JPMorgan Collected More in Overdraft Fees Despite New Limits

JPMorgan Chase & Co.’s overdraft revenue climbed last year even as the company instituted a raft of changes designed to limit it, a sign that customers are once again having trouble keeping their accounts flush with cash.

The largest U.S. bank collected $1.25 billion in overdraft-fee revenue, a 3% increase from 2021, according to data filed with regulators. That revenue dropped 65% for rival Bank of America Corp. and 9.3% for Wells Fargo & Co.

JPMorgan executives moved in 2021 to ensure customers would pay no fees for overdrawing $50 or less at the end of a ...