cross-posted from: https://lemmy.world/post/17274141
The potential charges, says Marianne Lake, CEO of consumer and community banking at JPMorgan, are a result of new regulatory rules that cap overdraft and late fees. Lake says Chase will be passing along those increased expenses to customers, which would put an end to now-free services such as checking accounts and wealth management tools. And she says she expects other banks will follow suit.
Any extra money can go to family, charity, government its your choice within reason. There would of course be stipulations, the most important thing is that you no longer have control of the money.
That being said, if we wanna talk about corporations, then anything other than sole proprietorships should be employee owned co-ops.
If there’s not one person with their head in the guillotine at all times to take responsibility for the company than it should be on the people who actually run it.
Great in theory but i can just continuously give my money away to my family my dog etc as to nwver reach said wealth cap seems extremely exploitable.
By family I’m talking taxable adults who will also be subject to wealth cap. The richest of us own too much to spread it all around.