A group of JPMorgan Chase customers are banding together to sue the banking giant, claiming they were forced to pay “unconscionable and predatory” fees.
The lawsuit accuses Chase of hitting customers with as much as $30 in fees for checks that bounced through no fault of their own, reports Forbes.
“The five customers – who seek at least $5 million in damages – claim Chase ‘all but acknowledged’ their fees were unfair after the bank removed references to them in deposit agreements and fee schedules in March 2023…
The suit argues that when a check bounces due to insufficient funds or some other problem, it’s not the fault of the person who tried to deposit the check.”
The lawsuit alleges the five customers were hit with the so-called “deposited item return fee” between November of 2021 and October of 2022.
The bank recently decided to drop the fee in question as regulators focus on cleansing the industry of hidden and excessive “junk fees.”
JPMorgan Chase has declined to comment on the case, which was filed in the White Plains, New York federal court.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney