This has cost banks money.
A similar scandal has cost banks dear in Britain.
In total, these fines have directly cost banks more than $100bn in the US alone.
We know it does not cost banks £25 to send an automated letter to tell us we're overdrawn.
As things stand, the settlement, said to total about $25 billion, would cost banks very little in actual cash — $3.5 billion to $5 billion.
The fallout from the manipulation of the London interbank offered rate, or Libor, has already cost banks $2.5 billion in penalties, not to mention loss of reputation.
It hopes that by coming clean on what the accounts cost, banks will have to offer better deals to customers, who will be empowered to shop around more.
That fee income is coveted, given that financial regulations limiting fees on debit and credit cards have cost banks billions of dollars.
"Deposit Plan Will Cost Banks More" (Business Day, Oct. 2) suggests that the Federal Deposit Insurance Corporation willingly waited several years before it started to raise premiums.
Fig. 14 PV alternative life cycle cost banks (averaged for all design wells) Fig. 15 Genset alternative life cycle cost banks (averaged for all design wells) Fig. 16 Electrical grid alternative life cycle cost banks (averaged for all design wells).
Fig. 17 All alternatives life cycle cost banks (averaged for all design wells).
