Banks operating in multiple states charged about 14% more in average monthly fees on checking and statement savings accounts last year than banks operating in a single state, the Federal Reserve Board said Thursday.

Monthly fees were 34% higher on passbook savings accounts at multistate banks than at banks in only one state, according to the Fed's annual report to Congress on retail fees.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.