Court grants final approval to excessive overdraft class action settlement against JPMorgan Chase

Posted on: January 8th, 2013 by Steve Larson

FeeOn December 20, 2012, Judge King in the Southern District of Florida granted final approval to a settlement that provided $100 million in cash, and $52 million in future savings to the class because of a changed business practice at JPMorgan Chase.  The settlement was between JPMorgan Chase and its customers who were allegedly charged excessive overdraft fees when JPMorgan Chase switched its method for ordering transactions based on highest to lowest.