Please ensure Javascript is enabled for purposes of website accessibility

Banks Are Still Swimming in Account Fees

By David Hanson and Matt Koppenheffer - Apr 11, 2013 at 9:02PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Despite recent legislation to limit some of its actions, the banking industry is still raking in the fees.

The era of completely free checking account appears to heading toward its demise. Despite new regulation and legislation that limits the ability of banks to charge onerous fees on customers, banks like Bank of America (BAC -1.18%) and Wells Fargo (WFC -1.07%) are still making billions of dollars in fees each year.

In this video, Motley Fool banking analysts David Hanson and Matt Koppenheffer discuss why these banks charged fees, and if customers can expect the fees to continue. 

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Bank of America Corporation Stock Quote
Bank of America Corporation
$34.47 (-1.18%) $0.41
Wells Fargo & Company Stock Quote
Wells Fargo & Company
$41.66 (-1.07%) $0.45

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/19/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.