Wisconsin Banking Update
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Banks Explain Why Fewer Offer Free Checking
Posted on January 29th, 2011 No commentsSixty-five percent of banks offered free checking in 2010, compared with 76 percent of banks in 2009, according to Bankrate.com. Why the disappearing act on free checking? The banking industry says banks are now losing money because of economic tough times and new laws that limit the fees that banks can charge. The average checking account costs banks about $300 a year, the American Bankers Association says. Read more at Channel3000.com.Leave a reply