JPMorgan Reaches $110M Deal In Overdraft Fee MDL

Law360, New York (February 6, 2012, 5:09 PM EST) -- JPMorgan Chase Bank NA on Friday became the latest bank to settle claims that it had breached customer contracts by charging exorbitant overdraft fees, posting notice of a proposed settlement that includes a $110 million payment to plaintiffs in the multidistrict case.

The bank, part of the New York-based financial giant JPMorgan Chase & Co., also has made changes in its overdraft fees practices, it noted, saying it would file a motion in Florida federal court seeking preliminary approval of the settlement within approximately 30 days....
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