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JPMorgan Chase Customers Forced to Pay 'Unconscionable and Predatory' Fees Despite Doing Nothing Wrong: $5,000,000 Lawsuit – The Daily Hodl

A group of JPMorgan Chase & Co. customers are banding together to sue the big bank, alleging they were forced to pay “unconscionable and predatory” fees.

The lawsuit accuses Chase of charging customers as much as $30 in fees for checks that are bounced through no fault of theirs. report Forbes.

“Five customers seeking at least $5 million in damages found their fees unreasonable after the bank removed references to customers from deposit agreements and fee schedules in March 2023. “I almost admitted it,” Chase claims.

The lawsuit alleges that if a check bounces due to insufficient funds or other issues, it’s not the fault of the person who tried to deposit the check. ”

The complaint alleges that five customers were charged so-called “deposited item return fees” from November 2021 to October 2022.

The bank recently decided to lower its controversial fees as regulators focus on ridding the industry of hidden and excessive “junk fees.”

JPMorgan Chase declined to comment on the lawsuit, which was filed in federal court in White Plains, New York.

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