Chase Ends Cardholder Action Over Hidden Fees For $8M

Law360, Los Angeles (November 22, 2011, 5:36 PM EST) -- A California federal judge on Tuesday signed off on a $7.8 million settlement between Chase Bank USA NA and a class of credit card users who claimed the bank charged them hidden fees after deceptively marketing special deals on balance transfers and short-term check loans.

U.S. District Judge George H. Wu said the deal, which will reimburse cardholders for the unexpected charges, is fair and reasonable. The class includes approximately 460,000 Chase cardholders who accepted the bank's transfer and check loan promotional offers between Jan. 15,...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.