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Whitewater: Checking Fee Strategy for a Turbulent Market

As banks race to shore up besieged checking account economics, a balancing act is unfolding with customers. Aggressive actions to increase fee revenues and lower costs have the potential to undermine checking’s valuable role in customer acquisition, retention and relationship expansion. A selective approach will be needed to lift checking economics in a way that preserves the product’s considerable remaining strengths. This year going into next, banks are facing a 40% to 45% decline in the annual run rate for checking-related revenue, compared with 2009. Along with plunging over-draft and debit interchange fees and a flat margin environment, banks are ...

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