JPMorgan Chase Clients With Under $100K Unprofitable

I must say, this is quite a biased and twisted report. Of course, consider the source. So much wrong with it, I can't even begin to list it. But for one, Dimon is complaining he can't make any money with the Fed holding interest rates at 0. What bull****! Banks make their moneey on the SPREAD between the interest rate the collect at and the rate at which they lend. The spread is as much now or more than it ever has been! A 3% spread between the savings rate and mortgage rate, as is the case now, is the historic norm!

If Dimon can't make any money now, maybe he just isn't worth the private jet to everywhere and all the other astronomical pay he gets. Maybe he got too used to ever more and more and more unjustified fees and ought to learn how to run a business without gouging and fleecing. If he is worth his pay, he ought to be able to do that. But methinks he has just gotten too fat.

Chase's statement is a joke!  Those customers probably have the rest of their assets in banks or cus which pay them better savings and CD rates.  Maybe if Chase "gave" a bit more, it would get more than the $100,000 from 70% of their customers, imo.

Yet Chase continues to extend its aggressive $150-200 offer for new clients to open a checking account with just $100. It does require at least $500 monthly direct deposits or $1500 min. bal. to waive a $10 monthly service fee, but such clients would still likely fit what they consider highly "unprofitable."  Yet apparently desirable.