Reliance on Cards

Margin trading is regulated by the Federal Reserve, the Financial Industry Regulatory Authority and securities exchanges, and many brokerage firms have margin requirements that are stricter than what regulators require. The loans are generally made by securities firms to investors and use financial assets such as stocks and bonds as collateral.

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Banks New Fees

Banks are struggling to replace lost fee revenue. About 45 percent of U.S. customers’ checking accounts are free, compared with about 65 percent last year, with an average monthly fee on non-interest-bearing accounts of $4.37 a month, according to a study released in September by Bankrate.

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