CHASE TO PAY $309 MILLION REFUND FOR ILLEGAL CREDIT CARD PRACTICES

WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) ordered Chase Bank USA, N.A. and JPMorgan Chase Bank, N.A. to refund an estimated $309 million to more than 2.1 million customers for illegal credit card practices. This enforcement action is the result of work started by the Office of the Comptroller of the Currency (OCC), which the CFPB joined last year. The agencies found that Chase engaged in unfair billing practices for certain credit card “add-on products” by charging consumers for credit monitoring services that they did not receive.

http://considerchapter13.org/2013/09/22/cfpb-orders-chase-and-jpmorgan-chase-to-pay-309-million-refund-for-illegal-credit-card-practices-approx-2-1-million-consumers-receive-full-refund/?utm_source=Sept%2023%20email&utm_campaign=9%2F23%2F13&utm_medium=email