RETAIL BANKING | Staff Reporter, Singapore

Weekly Global News Wrap Up: Bank of America customers protest; Deustche Bank overhaul to take time

And Fed works on easing up bank leverage limits.

From USA Today via CNBC: Some Bank of America customers are protesting a rule change that makes it harder for consumers with low balances to continue receiving free checking. This month, the banking giant switched e-banking customers into accounts that require a $12 monthly fee unless they have a direct monthly deposit of $250 or more or maintain a minimum daily balance of at least $1,500.

From Reuters: Deutsche Bank’s CEO on Thursday said an overhaul of the bank would take time but plans to turn around its performance were on the right track. John Cryan, speaking at a reception in Berlin, also warned the political vacuum that had developed in Germany was one of several “major risks” that the economy is currently facing.

From Bloomberg: The Federal Reserve is working to relax a key part of post-crisis demands for drastically increased capital levels at the biggest banks, according to people familiar with the work, a move that could free up billions of dollars for some Wall Street giants.


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