Checking accounts set for unwelcome transformation

"Free checking accounts may be one step closer to extinction. Regulatory changes to be issued July 21 are expected to sharply limit the fees that banks can collect from merchants whenever customers pay with debit cards. An attempt to delay implementing the rule by a year was narrowly defeated this week, meaning banks will be looking in earnest for ways to make up an estimated $14 billion in lost revenue. Customers have already seen the fallout start to take hold."