JPMorgan warns customers may have to pay for checking accounts, WSJ says

The head of America’s biggest retail bank has a warning for its 86 million customers, namely to prepare to pay for your bank accounts, The Wall Street Journal’s Alexander Saeedy reports. Marianne Lake runs Chase Bank, the sprawling franchise inside JPMorgan Chase that is the country’s biggest bank for consumers and one of its biggest credit-card issuers. Lake is warning that new rules that would cap overdraft and late fees will make everyday banking significantly more expensive for all Americans, the author notes. Lake said Chase is planning to pass on the costs of higher regulation and charge customers for a number of now-free services, including checking accounts and wealth-management tools, if the rules become law in their current form.