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Aug 4 - jpmorgan ceo....allegedly concerned bank gouges customers on overdraft fees



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 1 month ago '09        #1
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messy marv stan  topics gone triple plat - Number 1 spot x71
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Aug 4 - jpmorgan ceo....allegedly concerned bank gouges customers on overdraft fees
 

 
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visit this link https://www.mediaite.com/ .. a-dollar-slow/


JPMorgan CEO Jamie Dimon addressed concerns on Wednesday over his bank’s overdraft fees, saying it may have been “a day late and a dollar short” in reforming its policies.

The comments came after he clashed with Sen. Elizabeth Warren (D-MA) over the fees at a May Senate hearing. Dimon refused to tell Warren how much JPMorgan collected in overdraft fees, leading to a contentious back-and-forth in which Warren called him the “star of the overdraft show.”


image The bank collected $1.46 billion in overdraft fees in 2020, according to federal regulatory filings, 2.4 times more per account than Bank of America and 4.9 times more than CitiGroup


“You said the premise of the question was wrong,” Fox Business Network’s Maria Bartiromo noted in a Wednesday interview with Dimon. “She said you have the number, $1.463 billion. Does that change anything? Did you make a change on overdraft fees?”

“There are sometimes legitimate complaints about banks and what people do and how we do it,” Dimon replied

image “We changed overdraft fees and charging over an extended period of time and we always look at something like that so I asked the people look at it again, go through in detail. A lot of competitors are making changes. It may be a day late and a dollar slow. But if it’s appropriate we will make changes. We will do it if it’s competitive.”


The banking chief took a more cautious tone when Bartiromo followed up. “What do you mean, you’re going to eliminate overdraft fees?” Bartiromo asked.


image “I don’t know about that,” Dimon said, adding that “people who bounce checks” incur additional costs when they fail to pay traffic tickets. “Remember, there’s a huge benefit to overdraft fees. I think people have to, again, take a deep breath.

“We’re trying to do the right things for clients, not have a knee-jerk reaction,” he added.
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 1 month ago '10        #2
lltreyll 
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If I eventually stack over a million, I wouldnt be a dummy with that money. I'd start a fu*kin bank. That is all.
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 1 month ago '11        #3
Sin  topics gone triple plat - Number 1 spot x38
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He just figure this out

Jaimie dimon must be attempting to do some good on the way out, one last good deed
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 1 month ago '18        #4
ChrisPartlowFro 
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Translation: changes will be made to bring them in line with the market. Perhaps you’ll get an alert well before you overdraft or something but fees ain’t going anywhere.
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 1 month ago '20        #5
Xiox  topics gone triple plat - Number 1 spot x1
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Gotta luv how these greedy capitalists do business with no regulation
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 1 month ago '17        #6
dubsax 
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 Sin said
He just figure this out

Jaimie dimon must be attempting to do some good on the way out, one last good deed
dont be surprised to see him run for president
+2   

 1 month ago '11        #7
Sin  topics gone triple plat - Number 1 spot x38
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 dubsax said
dont be surprised to see him run for president
I would welcome that very intelligent, sensible, competent and rational man

American can use some of that

Disney’s bob Igor is another rumor


Last edited by Sin; 08-04-2021 at 05:56 PM..
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 1 month ago '20        #8
Bighempin  topics gone triple plat - Number 1 spot x1
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Bro these crooks charge you 12.00 maintenance fee if you chit dips below 50.00
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 1 month ago '04        #9
x Tha Arkitek x  topics gone triple plat - Number 1 spot x2
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It may seem like banks make a boatload off of overdraft fees, but in the grand scheme of their total annual revenue overdraft fees make up something like 1-2% of their revenue.

They don't even need that revenue to make investors happy, they just do it just because they want to and they can --- that's evil and greedy. I'm not even religious, but there's a special place for these individuals.
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 1 month ago '16        #10
00010111  topics gone triple plat - Number 1 spot x4
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 Sin said
I would welcome that very intelligent, sensible, competent and rational man

American can use some of that

Disney’s bob Igor is another rumor



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