How To Make Money 101 by JPM
In a handful of jurisdictions, the biggest U.S. bank by assets handles the administration of the juror compensation system, issuing debit cards instead of the age-old system of paper checks.In addition to the juror pay, the cards also come loaded with fees -- for balance inquiries, for inactivity, for using non-Chase ATMs, for charges with insufficient funds and for cash or check issuance. The funds become impossible to withdraw from an ATM once the balance falls below $20, and in at least one jurisdiction -- Washington, D.C. -- there are no Chase branches or ATMs within 90 miles (145 kilometers), ensuring the funds will eventually be frittered away to the bank.
Is this seriously how they're trying to make money? JPM is indeed a very, very elite institution; but is this what they have succumbed to? Jury duty is already a very tedious and long process, and JPM just makes it longer for them.
Article: JPMorgan Accused of Nickel-and-Diming Jurors on Debit Cards
Any thoughts and comments about JPM?
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