Payday Pundit

Bank fees are on the rise and don’t expect them to go down anytime soon according to the Chattanooga Times Free Press.

The Federal Reserve Bank’s recent interest rate cuts may have provided some relief for consumers, but banks have been left looking for other streams of revenue to compensate.

For many banks, that additional revenue comes in the form of fees charged to consumers.

The article also attributes the rise as an attempt by banks to compensate for low-balance ‘free’ checking accounts which “don’t bring in much money and may actually cost the bank money.” 

Ouch! Fine print can be costly.