23 Jun
Banks to Make Up Lost Fees
Despite new financial regulation on fees, like on overdrafts, banks are coming up with new ways to recoup that revenue. Wells Fargo stock investors should begin recovering these fees to increase revenue as well. One of the immediate decisions Wells Fargo will be enacting is eliminating its free checking program. This is one of many ways that the bank hopes to recoup the over $1 billion in lost fees from government regulations. Other fees may be coming down the pipe for consumers, but the bank will have to walk a careful balance and only follow practices similar to its peers so as to not alienate customers.