News for hackers. Stuff that matters.

A comment on Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC. Parent comment

Re:Joint Statement by the Department of the Treasury, Federa... by TedDoesntTalk on Monday March 13, 2023 @12:33AM (#35131110)
Local Community Bank has free checking and few fees. Does Chase? That’s what they look at, not existential questions about the longevity of the bank.
[ Parent | on HN ]
Re:Joint Statement by the Department of the Treasury, Federa... by brianwawok on Monday March 13, 2023 @12:44AM (#35131193)
Chase charges money to have an account if you are poor. If you have money, and logically could more easily afford to pay bank fees, it’s free.

Most of the big guys work like this. At a certain wallet size you get a free personal advisor who will help manage your wealth.

[ Parent | on HN ]
Re:Joint Statement by the Department of the Treasury, Federa... by TedDoesntTalk on Monday March 13, 2023 @12:59AM (#35131295)
> free personal advisor

They take 1% of the money they manage. And then they invest it in their own funds, taking more fees there. They are not free.

[ Parent | on HN ]
Re:Joint Statement by the Department of the Treasury, Federa... by brianwawok on Monday March 13, 2023 @03:43PM (#35141344)
I mean, duh ;P
[ Parent | on HN ]