Chase Ordered To Pay $100M To Credit Card Customers For Boosting Minimum Payments

Chase Ordered To Pay $100M To Credit Card Customers For Boosting Minimum Payments

JPMorgan Chase hit up its customers for some additional cash back in 2008 and 2009 when it raised minimum monthly payments on many of its credit cards from 2% to 5%, and now it seems the tables have turned. As part of a class-action settlement over litigation brought by customers, the bank has agreed to pay $100 million to its cardholders for improperly boosting payments in order to generate higher fees. [More]

Chase To Disabled Veteran: Sorry For Making You Do All That Paperwork For A Loan We Don’t Offer

Chase To Disabled Veteran: Sorry For Making You Do All That Paperwork For A Loan We Don’t Offer

There’s nothing quite like slogging through tons of paperwork for months in pursuit of something very, very important, and then having the rug just pulled out from under you, is there? A disabled veteran says his bank, Chase, executed just such a disappointing move while he was trying to buy a home under a special Illinois loan program for veterans. [More]

Couple Sues JPMorgan Chase For Ignoring Instructions, Enriching Itself On Fees

Couple Sues JPMorgan Chase For Ignoring Instructions, Enriching Itself On Fees

In 2005, an Indiana couple sold their baking business for a nice sum of $6.5 million and turned to JPMorgan Chase to place that money in “safe and liquid investments.” But the investors say Chase deliberately ignored their wishes and put the millions into high-risk investments that also padded the bank’s coffers with “fees upon top of fees upon top of fees.” [More]

Lawsuit: I Listened To Chase About My Mortgage And Ended Up With No House And A Dead Husband

Lawsuit: I Listened To Chase About My Mortgage And Ended Up With No House And A Dead Husband

A Texas widow and her family have filed a lawsuit against JPMorgan Chase and others, alleging that their efforts to refinance their mortgage with the bank only resulted in foreclosure, heartache and her husband’s fatal heart attack. [More]

New Chase Devices In Stores Will Accept Payments From Mobile Phones

New Chase Devices In Stores Will Accept Payments From Mobile Phones

JPMorgan Chase is taking a step toward its mobile future with an announcement today that it’s started the process of equipping merchants with newfangled devices that will accept payments both from mobile phone signals as well as cards embedded with computer chips, and the traditional magnetic strips. [More]

Chase Sends Customer’s Entire Payment History & Personal Info To Complete Stranger

Chase Sends Customer’s Entire Payment History & Personal Info To Complete Stranger

After three years of continual back-and-forth with a bank over a mortgage adjustment, one would think there’s nothing that bank could do to surprise you. And then it goes and sends documents containing information that even an inept ID thief could use to rob you blind. [More]

Chase Does Us All A Favor, Nixes Overdraft Fees For Purchases Under $5

Chase Does Us All A Favor, Nixes Overdraft Fees For Purchases Under $5

Remember when you began vehemently swearing upon realizing that before you used your bank card to buy a $3 iced coffee, you were in the red already, making that a $37 iced coffee and overdrawing your account even more? That’ll change for Chase customers, as the bank announced its going to do its customers a solid by dropping overdraft fees for purchases under $5. [More]

Big Banks Reaping Big Benefits From HARP Refinances

Big Banks Reaping Big Benefits From HARP Refinances

Following the collapse of the housing market in 2008-9, many homeowners who owed more on their mortgage than their property was worth were either ineligible for the federal government’s Home Affordable Refinance Program, or were made to jump through hoops by banks who wanted to discourage people from refinancing into lower-interest loans. But recent rule changes have turned HARP into a favorite of the big mortgage servicers. [More]

Bought A Groupon, An iPhone 4, Or Coconut Water? These Class Actions Are For You

Bought A Groupon, An iPhone 4, Or Coconut Water? These Class Actions Are For You

Have you bought coconut water, pinot noir, a Samsung TV, or an iPhone 4? If you purchased any of these products, plus a whole bunch more, you may be eligible to file a claim in one of these recently settled class action lawsuits. Proof of purchase isn’t always required, but lying is bad consumer karma. [More]

Shareholders Sue JPMorgan & CEO Jamie Dimon Over $2 Billion Loss

Shareholders Sue JPMorgan & CEO Jamie Dimon Over $2 Billion Loss

Late last night, two separate lawsuits were filed against JPMorgan Chase & Co and its Chief Operating Officer, Jamie Dimon, accusing the bank and its management of excessive risk that led to trading losses of at least $2 billion. [More]

Are Bank Tellers Going The Way Of The Dinosaur?

Are Bank Tellers Going The Way Of The Dinosaur?

Between ATMs, online banking and smartphone apps, the average person can now go months, possibly years, without ever having to go into a bank and interact with a teller. And a number of financial institutions are continuing to looking for ways to remove tellers from the equation — or at least move the tellers somewhere that they aren’t taking up expensive real estate. [More]

JPMorgan CEO Jamie Dimon On $2 Billion Loss: "We Have Egg On Our Face"

JPMorgan CEO Jamie Dimon On $2 Billion Loss: "We Have Egg On Our Face"

JPMorgan Chase dropped a hefty financial bomb on everyone yesterday, admitting that it lost $2 billion in six weeks after some bad trading decisions. CEO Jamie Dimon revealed the news after trading closed last night, admitting that the company only has itself to blame. [More]

Have You Found An ATM With Minimum Deposits?

Have You Found An ATM With Minimum Deposits?

When Paul’s wife brought a small check to deposit at a Chase bank ATM, she didn’t expect to have the machine spit it back out. Deposits, you see, have a $15 minimum. Wait, isn’t that the point of using an ATM to deposit checks – not having to waste a teller’s time on an $8 transaction? [More]

Want To Spy On Your Friends' Bank Accounts? Lend Them Your iPhone!

Want To Spy On Your Friends' Bank Accounts? Lend Them Your iPhone!

Letting someone borrow your iPhone to log in to their bank’s app quickly, then log back out is no big deal, right? Like letting a friend borrow your computer to check their web-based e-mail. They log in, they log out, they leave no trace. Unless it’s Chase’s iPhone app. Then you get all of their account alerts, no matter what you do. (Short of deleting the app, we assume.) [More]

Why Did Chase Teller Hand Over $6,500 Of My Cash To Wallet Thief?

Why Did Chase Teller Hand Over $6,500 Of My Cash To Wallet Thief?

It’s not uncommon for someone to steal your credit card and ring up some huge charges on the account. This is why there are such strict limits on liabilities for fraudulent transactions. The protections are not as stiff for debit cards, but they do exist. Regardless, a thief shouldn’t be able to walk into a bank and walk out with $6,500 of a customer’s cash after the debit card associated with that account has been reported stolen. [More]

Federal Judge Signs Off On $25 Billion Mortgage Settlement With Top 5 Banks

Federal Judge Signs Off On $25 Billion Mortgage Settlement With Top 5 Banks

It’s just like reality TV, but not at all — America, here are your top five big greedy banks, and here is the $25 billion mortgage settlement they’re all going home with, now that a federal judge has approved it. That’s their load to carry, after allegations of foreclosure abuses and misconduct in servicing home loans. [More]

Do Not Confuse The Chase Bank ATM With Your Weird And Scary 'Checks'

Do Not Confuse The Chase Bank ATM With Your Weird And Scary 'Checks'

Tom and his wife got married last year (congratulations!) but still have separate checking accounts. Tom never had a problem depositing checks also made out to his wife in his Chase checking account, so he didn’t foresee any problems with depositing their joint $2,000 tax refund check in that same account. But this is The Consumerist, not Satisfied Chase Customers Weekly, so you can guess how that turned out. Now Tom and Mrs. Tom get to wait patiently and hope that the check doesn’t get lost in the mail on its way back to them. [More]

Chase Doubles The Debit But Isn't Sure When They'll Get Around To Fixing It

Chase Doubles The Debit But Isn't Sure When They'll Get Around To Fixing It

UPDATE: Chase has issued a statement on accounts that posted debits twice: “Some debit card transactions in the New York tri-state area posted twice. We are working to reverse that and we will reimburse any resulting fees.” [More]