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 and Wells Fargo 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.
Despite its shrinking fee-base, Bank of America's stock doubled in 2012. Is there more yet to come? With significant challenges still ahead, it's critical to have a solid understanding of this megabank before adding it to your portfolio. In The Motley Fool's premium research report on B of A, analysts Anand Chokkavelu, CFA, and Matt Koppenheffer, Financials bureau chief, lift the veil on the bank's operations, including detailing three reasons to buy and three reasons to sell. Click here now to claim your copy.
The article Banks Are Still Swimming in Account Fees originally appeared on Fool.com.
David Hanson has no position in any stocks mentioned. Matt Koppenheffer owns shares of Bank of America. The Motley Fool recommends Wells Fargo. The Motley Fool owns shares of Bank of America and Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.