JP Morgan Chase Class Action – Sued Over Increase in Credit Card Interest Rates

A consumer has filed a class action against JPMorgan Chase & Co.  The class action was filed in the United States District Court for the Northern District of Illinois, according to Reuters.

The class action complaint alleges JPMorgan Chase increased the consumer’s interest rates after he closed his credit card account.   The consumer alleges JPMorgan increased his credit card interest rate from 11.99% to 17.99% after he was informed by JPMorgan that if he closed his account he could “opt out” of the credit card interest rate increase.