Another Brilliant Idea

Well - there go your free checks and "no minimum balance fees."

President Barack Obama will announce his intention to impose a fee on more than 20 of the country’s largest banks and financial institutions to help recoup taxpayer bailout money and trim the federal budget deficit, an administration official said.
The fees, expected to be spread over as many as 10 years, will be based on the leverage or amount of liability each firm has, the official said, who spoke on the condition of anonymity. LOL
Obama will formally outline his proposal to raise as much as $120 billion at an event at the White House, according to the official who spoke on the condition of anonymity.

Article from Bloomberg