Page 131 - Bank Case Studies

The Future

Wells Fargo and other banks are facing a dynamic future
where circumstances are still unfolding. Areas of

controversy are emerging in the form of for example, the

changing components of the U.S. population:

Linked to population growth is the question of bank fees.

“JPMorgan made close to $2 billion from overdraft charges

last year. Wells Fargo made $1.8 billion, and Bank of

America made $1.7 billion on overdraft fees.” (16)

“Even more alarming is that 8% of customers pay 75% of all

overdraft fees, according to the CFPB. Those customers tend

to be young and poor, and they're overdrafting 10 or more

times a year.” (16)