Categories: Business, Featured, Personal Finance
Free checking ends as banks up fees in response to new federal regulation
Hey there Rascals, here’s a piece of financial news that’s not strictly tax related but definitely relevant for anyone with a checking account. According to this article in USA Today, about ⅔ of major banks are ending free checking. This is a move that’s been looming on the horizon for about a year now, but the banks are finally making good on their threats.
Here are some numbers for you on the rapid demise of the free checking account: Only 45% of non-interest checking accounts are still free, as opposed to 65% last year and 76% in 2009. And now the average monthly non-interest… Read more…