Settlement with JPMorgan Chase

Are you an account holder of JPMorgan Chase? Have you paid overdraft fees to JPMorgan Chase, N.A.? If so, you may be eligible to for a payment from a class activity settlement. Your legal rights are affected whether you act or don’t act. When you deserve to claim the money, you have to fight for yourself and protect your legal rights from being violated.

Settlement with JPMorgan Chase Overview
The lawsuits concern whether Chase posted debit card transactions in order from highest to lowest buck amount to maximize the number of overdraft fees assessed to its customers. Chase maintains there was nothing wrong about its approval of transactions or the posting process used. The Court has not determined which side is right. Instead, both sides have agreed to a Settlement.

Whether you received notice of the Settlement by a postcard or not, you are a member of the Settlement Class if you had a Chase consumer deposit account that you could access with a Chase debit card anytime inbetween January 1, 2003 and March 29, 2010 and were charged one or more overdraft fees as a result of Chase’s practice of posting debit card transactions from highest to lowest buck amount.

Settlement Fund payments also may be available to holders of certain consumer deposit accounts with Bank One, Bank of New York (“BoNY”) or Washington Mutual Bank (“WaMu”) as lengthy as overdraft fees charged to those accounts happened after they became Chase-owned accounts.

The Court entered a formal order and judgment approving the $110 million Settlement with JPMorgan Chase Bank, N.A.  in In Re: Checking Account Overdraft Litigation, 1:09-MD-02036-JLK on December 19, 2012.

You do not have to do anything to receive a payment or account credit.  Your payment or account credit will be made automatically if the Court approves the Settlement and it becomes final. Upon receiving the payment, you will give up your right to participate in further litigation against Chase about the claims in this case.

Distribution of awards via an account credit or award check is now complete. Account credits were made and award checks were mailed on or before May 17, 2013. Award checks were mailed in the form of a postcard check.

You can also view or print court documents and notice of the Settlement from chaseoverdraftsettlement.com.

About JPMorgan Chase Bank, N.A.
Chase is a subsidiary of the multinational banking corporation JPMorgan Chase, the largest bank in the United States by assets. Chase offers more than 5,100 branches and 16,100 ATMs nationwide. It was known as Chase Manhattan Bank before it merged with J.P. Morgan & Co. in 2000. J.P. Morgan & Co. merged with Chicago based Bank One Corporation in 2004 and bought most of the banking operations of Washington Mutual in 2008.

Leave a Reply