New banking fees to go into effect

January 5, 2010 2:01:59 PM PST
Banks are looking for ways to replace the billions of dollars in revenue they will lose when new rules for interest rate increases go into effect in February.Credit card issuers are introducing cards with variable rates instead of fixed rates and cards with annual fees.

Some analysts predict that card companies will weaken card rewards programs and introduce fees for inactive accounts.

The government will also change rules for how banks charge overdraft fees.

Some banks are expected to end free checking and raise fees for things like safe deposit boxes.


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