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Loan Modification: Mortgage Lender Implode-o-Meter
Customers with less than $100,000 in investments and deposits no longer 'profitable' for JPMorgan Chase
By Implode-Explode Heavy Industries
In the wake of the financial meltdown, new regulations that limit bank fees and overdraft charges are making it expensive for the nation's biggest bank to service customers with little to show on their ATM slips.
Indeed, most customers with less than $100,000 in investments and deposits are no longer "profitable" for JPMorgan Chase. The firm generates the bulk of its retail banking revenues -- about 55 percent -- from affluent customers that boast more than that.
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