Insiders Advisor
  • Stocks
  • World News
  • Business
  • Politics
  • Stocks
  • World News
  • Business
  • Politics

Insiders Advisor

Business

Chase customers sue over fees for depositing checks that bounce

by February 22, 2024
February 22, 2024
Chase customers sue over fees for depositing checks that bounce

JPMorgan Chase was sued by customers who accused the largest U.S. bank of having unfairly charged fees when they deposited checks that, through no fault of their own, bounced.

In a proposed class action filed on Tuesday night, five customers said New York-based Chase docked $12 “deposited item returned fees” from their accounts when checks they tried to deposit were returned unpaid.

Checks can bounce for many reasons, including when writers do not have enough money in their accounts or issue stop payment orders, or when the checks contain errors.

The Chase customers called the bank’s “junk fees” for returned checks “unconscionable” and “predatory,” citing an October 2022 U.S. Consumer Financial Protection Bureau bulletin that said indiscriminately charging such fees was likely illegal.

“By charging these deposited item return fees, Chase unfairly targeted its customers with financial penalties for faulty checks the customers had no hand in issuing,” the complaint said. “They did nothing wrong, yet were penalized.”

Chase declined to comment on the lawsuit, but said it stopped charging the fees in December 2022.

The five customers said they were charged between November 2021 and October 2022.

Their lawyer Lisa Considine called imposing the fees “a pervasive and unfair industry practice.”

The complaint seeks at least $5 million of damages for Chase customers nationwide, alleging violations of New York, California, Illinois and New Jersey consumer protection laws. It was filed in the White Plains, New York federal court.

In October, the Biden administration called for a crackdown on hidden and surprise fees in banking and other sectors including car rentals, hotels and concert tickets, saying the fees cost Americans tens of billions of dollars a year.

The case is Maslowski et al v JPMorgan Chase Bank NA, U.S. District Court, Southern District of New York, No. 24-01277.

This post appeared first on NBC NEWS
previous post
Decoding 10-Year Treasury Yields: A Monthly/Secular Perspective Overview
next post
Iran accuses Israel of blowing up natural gas pipeline in sabotage attack, provides no evidence

Related Posts

As Apple enters AI race, iPhone maker turns...

October 7, 2024

Walmart will likely raise some prices if Trump...

November 19, 2024

Walgreens plans store closures as CEO says consumers...

June 28, 2024

Starbucks imposes new limits on what baristas can...

April 23, 2025

At a growing list of airports, TSA PreCheck...

February 28, 2024

Bruce Nordstrom, who helped grow family-led department store...

May 20, 2024

Trump-Bezos call sets stage for tense earnings report...

May 1, 2025

Do you buy packaged meat or bagged fruit...

April 9, 2024

Rules for repaying Social Security benefits are about...

March 11, 2025

Pfizer CEO says tariff uncertainty is deterring further...

April 29, 2025

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Latest News

    • Saudi defense minister secretly meets with Trump to discuss Iran de-escalation, Israel: sources

      July 4, 2025
    • Trump administration swarms SCOTUS with emergency requests and sees surprising success

      July 4, 2025
    • Essence Fest leads a summer of events for Black entrepreneurs galvanized by economic uncertainty

      July 4, 2025
    • Trump administration torpedoes SCOTUS with emergency requests and sees surprising success

      July 3, 2025
    • Mike Johnson touts ‘beauty of unified government’ after Trump’s ‘big, beautiful bill’ sails through Congress

      July 3, 2025
    • White House wants Obama intel officials ‘held accountable’ for role peddling 2016 Russia hoax

      July 3, 2025

    Categories

    • Business (1,295)
    • Politics (6,278)
    • Stocks (904)
    • World News (460)
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: insidersadvisor.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 insidersadvisor.com | All Rights Reserved