Checking getting more expensive at Bank of America
"Bank of America says its fee increase reflects the greater services it is providing, such as spending alerts and mobile banking. But the move is also in line with the industry's pullback on free checking. The availability of free checking accounts with no strings attached shrank last year for the first time since 2003. Only 65 percent of checking accounts were free, down from 76 percent in 2009, according to Bankrate.com."
Study: Mobile Banking Not Just for the Affluent
"Mobile banking users are not necessarily more affluent than nonmobile bankers, according to Boston-based research firm Aite Group, and credit unions should invest in debit cards, prepaid cards and merchant-funded awards to attract new members."
Branch-Building Spree Is Customer-Driven, JPMorgan Chase's Scharf Says
"With mobile banking, JPMorgan Chase & Co. is making it easier for customers to avoid visiting branches. Then why is the New York banking giant opening so many new ones while other banks are closing theirs? Rivals and branch consultants have been pondering the question since JPMorgan Chase said in February that it plans to open 1,500 to 2,000 branches over the next five years, mostly in California and Florida."
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