JPMorgan To Pay $389M To Settle Credit Card Fee Dispute

Law360, New York (September 19, 2013, 3:54 PM ET) -- JPMorgan Chase & Co. agreed Thursday to pay a total of some $389 million in penalties and refunds to resolve accusations by the Consumer Financial Protection Bureau and Treasury Department regulators that it duped customers by charging them additional fees for certain credit card services they didn’t receive.

As part of the settlement, JPMorgan has agreed to refund some $309 million to more than 2 million customers for the allegedly illegal credit card practices, and agreed to pay $60 million in penalties to the Office of...
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