Reporting from New York — The battles over bank fees may be shifting from credit cards to other types of accounts.
Citigroup Inc.'s Citibank unit this month had planned to start charging a $9.50 monthly fee on checking accounts it had marketed as free. But in a settlement announced Monday with New York Atty. Gen. Andrew Cuomo, the banking giant agreed to keep the accounts free until at least 2011.
After Congress passed a law last year making it harder for banks to raise interest rates and other fees on credit cards, some industry lobbyists said the law, which takes effect Feb. 22, would force financial institutions to find ways to make up for lost revenue.
"We want to make sure that banks aren't turning around and trying to charge customers through a different means," Cuomo said at a news conference.