It never hurts to have a backup plan.
Federal lawmakers and regulators are threatening severe limits on how much banks may charge in overdraft fees, which heavily subsidize free checking.
Bankers have already started developing makeover plans for the highly popular product in case overdraft revenues are reduced. Among the options are imposing new limits on free checking that reduce costs or raise revenue or charging monthly fees on accounts that include more bells and whistles.
The marketing challenges promise to be dicey.