An article entitled "End Is Seen to Free Checking"
The banks are claiming that they can't make money on many checking accounts, but if someone had a thousand dollars in a checking account that money would be loaned out multiple time and with credit cards going at 20 something percent interest they should be making a lot of course other types of loans are lower so let's say an average of 10% interest and let's say they loan it 10 times. $10,000 times 10% interest is a thousand dollars! Face it that $1000 dollars is more than enough to pay for most small accounts, and they charge say $15 a month maintenance fee that's 180 dollars a year or $1800 that can't be loan our the next year so the bank could lose $180 than $360 for not being able to loan the money.
The banks are entering the death spiral stage. Stupider decision mark the point when a business is dying usually from past stupid decisions. When a business enters the death spiral they each act differently some executives start looting the business and their customers, sometimes the business stops paying sales tax to the state, or not sending in state or federal income tax withholdings, not paying for supplies, charging out rages prices and fees, etc. When the death spiral is reach every bad decision just speeding up the process in the end even government bailouts won't stop the banks from dying, they will only cause the banks to die slower more painful deaths and hurt far more people in the process. The banks are dying.