House letter regarding imposition by Chase Bank of $5 savings account withdrawal fee

Consumer groups protest withdrawal fees. Specifically, effective November 21,2011, Chase Bank has begun to charge a $5 fee for each withdrawal from a customer’s savings account in excess of six withdrawals during a monthly statement period – including all ATM and/or bank teller withdrawals. In other words, Chase is charging its customers to take cash — their own money — out of their own savings accounts.