07:17 AM EDT, 07/05/2024 (MT Newswires) -- JPMorgan Chase ( JPM ) unit Chase Bank is planning to pass on the costs of new rules capping overdraft and late fees to its customers should they become law in their current form, The Wall Street Journal reported Friday.

The bank would charge customers for now-free services like checking accounts and wealth-management tools, said Consumer and Community Banking Chief Executive Marianne Lake.

"The changes will be broad, sweeping, and significant," Lake told The WSJ.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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