$110 MILLION OVERDRAFT CLASS ACTION SETTLEMENT WITH JP MORGAN CHASE FOR OVERDRAFT FEES

J.P. Morgan Chase has agreed to settle a $110 million class-action lawsuit filed by customers over the way the bank charges debit card fees. The lawsuit targeted the bank’s practice of ordering transactions by largest to smallest, instead of chronologically, so as to maximize the amount of overdraft fees. As part of the settlement, Chase now processes transactions in the order in which they occur.  Ann Carrns, The New York Times  02/06/2012
Read Article: The New York Times

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