The potential charges, says Marianne Lake, CEO of consumer and community banking at JPMorgan, are a result of new regulatory rules that cap overdraft and late fees. Lake says Chase will be passing along those increased expenses to customers, which would put an end to now-free services such as checking accounts and wealth management tools.

Of course, whether those rules will go into effect could depend on the results of the November election. Donald Trump could strike them down or dilute them

This sure seems like political action designed to put pressure on the electorate.