Big Banks Might Charge you to Hold You Money? Time to Head to the Credit Union

If my bank did this I would move every dollar to a credit union or an online bank or something.

After the release, The Financial Times said the Fed policy and its "cheap loans" and subsequent low profit margins, has led to banks such as JPMorgan Chase and Bank of America looking to "compensate" for those lower revenues. 

One idea reportedly brewing among big bank executive suites is to charge a premium to "hold money" for bank customers, a centuries-long practice by banks that rarely, if ever, resulted in charges for holding those deposits. 

The Times says decision-makers at two of Americas largest banks said they would start charging customers a fee for checking and savings account deposits unless the Fed backed off on its low rate policy and began hiking interest rates.

I hate the idea of them charging a fee to do their very basic job in holding onto your money. I would even back a Treasury rule that forbids them from charging a fee simply to hold your money in a savings or checking account.