Zelle at JPMorgan Chase Bank
Allegations: Marketing Zelle as safe and secure without disclosing that there’s a risk consumers will lose money in fraudulent transactions and the bank will not reimburse them for lost funds
In June 2019, a class-action lawsuit was filed against Chase Bank for allegedly misleadingly offering an interest-free grace period on new purchases without adequately disclosing that accountholders only get the grace period if they have paid the full balance on the credit card for two months. (Young et al v. Chase Bank USA, JP Morgan Chase Bank, and JP Morgan Chase & Co., Case No. 19-cv-1026, D. Del.)
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Allegations: Marketing Zelle as safe and secure without disclosing that there’s a risk consumers will lose money in fraudulent transactions and the bank will not reimburse them for lost funds
Allegations: Misrepresenting when customers will be charged overdraft fees
June 2019: This case was transferred from state court to federal court. (Case No. 19-cv-5834, S.D.N.Y.) April 2019: A class-action lawsuit was filed against JPMorgan Chase Bank for allegedly misrepresenting…
Is your bank giving out information on changes to your credit card accounts?