End Is Seen to Free Checking

From the perspective of big government, banks get themselves into trouble without proper regulation. At some point "Too Big to Fail" means taxpayer funds will be used to bailout a biased system. Regulation inevitably carries a price tag that will always be passed to the bank customers. After regulation, services such as free checking are no longer free. That is, the public pays for either outcome (bailout or regulation). Today, it's the end of free checking. Tomorrow it's an increased service cost for customers using cash.

An important lesson to learn here -

It's their game. You better learn the rules if you want to play and succeed within it.

(NYSE: BAC - News) and other banks are preparing new fees on basic banking services as they try to replace revenue lost to regulatory rules, in a push that is expected to spell an end to free checking accounts for many Americans.

Source: finance.yahoo.com