Chase Sued Over Credit Card Protection Program

Law360, New York (September 27, 2010, 4:56 PM EDT) -- JPMorgan Chase & Co. and Chase Bank USA NA have been hit with a putative class action that accuses them of improperly selling a protection program for credit card payments to consumers such as retirees who can’t benefit from it, as well as other deceptive practices.

The complaint, filed Friday in the U.S. District Court for the Eastern District of Arkansas, contends that Chase has violated the law by labeling its Payment Protection program as an noninsurance product to avoid state regulation and charge higher fees,...
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