Chase Says Crypto 'Like Cash' In Bid To Ax Cardholder Suit

Law360 (November 6, 2018, 9:18 PM EST) -- Chase Bank has urged a New York federal judge to dismiss a proposed class action that alleges the bank improperly switched gears on customers earlier this year and started treating their credit-card purchases of cryptocurrency as cash advances without warning, arguing that its cardholder agreements didn't actually change and that cryptocurrency is basically "like cash" anyway.

In a brief filed Friday, Chase Bank USA NA said that the credit cardholders behind the suit can't claim the bank broke the law or its customer agreements in January, when it allegedly stopped classifying crypto buys on its credit cards as regular purchases and...

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