Class Actions Blog

Posts Tagged ‘Chase Bank’

Court approves $55 million settlement in US Bank overdraft class action

Posted on: August 23rd, 2013 by Steve Larson

Fee

On July 29, 2013, Judge King, from the Southern District of Florida, approved a $55 million settlement between US Bank and a proposed class of over one million customers of US Bank, putting to rest a class action accusing the bank of manipulating debit card transactions to collect higher overdraft fees.

The suits making up this class action were filed in 2009  alleging that the bank changed the order of customer’s debit card transactions from largest to smallest in order to maximize overdraft fees. Read more…

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$203 million verdict against Wells Fargo in excessive overdraft case reinstated

Posted on: June 10th, 2013 by Steve Larson

FeeU.S. District Judge William Alsup reinstated on Tuesday a penalty he first imposed in August 2010, saying the fourth-largest U.S. bank violated a California law that protects consumers against fraudulent misrepresentations. 

The lawsuit is separate from nationwide litigation still pending in Miami federal court against about 20 lenders, including Wells Fargo, over alleged excessive overdraft fees.

Consumers often incur the roughly $25 or $35 fees when they overdraw their checking accounts through debit card purchases. Read more…

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JPMorgan to obtain identities of confidential witnesses in securities class action

Posted on: May 15th, 2013 by Steve Larson

Stocks and sharesJPMorgan Chase & Co has won a court order requiring plaintiffs’ lawyers pursuing a securities fraud lawsuit against it to disclose the identities of witnesses sourced anonymously in the complaint.  The order on Tuesday by U.S. Magistrate Judge James Francis in Manhattan added to the growing list of cases in which judges have allowed defendants to probe unnamed “confidential witnesses” used to support investor class action claims.  

Filed in 2009, the lawsuit against the bank is one of a series of lawsuits by investors in mortgage-backed securities that went sour during the housing meltdown and 2008 financial crisis.   Tuesday’s order came a week after U.S. District Judge Colleen McMahon ordered the disclosure of the names of nine witnesses cited in a securities fraud lawsuit against Aeropostale Inc.  Read more…

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JPMorgan Chase sued in class action for unlawful debt collection

Posted on: February 11th, 2013 by Steve Larson

FeeJPMorgan Chase and law firm Bickerstaff Heath Delgado & Acosta LLP are defendants in a class action lawsuit that was filed in the U.S. District Court for the Southern District of New York.  The lawsuit accuses Chase of colluding with collection agencies and law firms to collect debts in excess of what consumers owed, debts already paid or for purely fictitious debts, and claims that the scheme allegedly enabled Chase and its co-conspirators to illegally collect hundreds of million of dollars from consumers. 

The action seeks restitution, interest and treble damages for violations of the Fair Debt Collection Practices Act, Fair Credit Reporting Act and Racketeer Influenced and Corrupt Organizations Act.

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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.

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OPERF named one of lead plaintiffs in JPMorgan Chase case

Posted on: August 31st, 2012 by Steve Larson

The Oregon Public Employees Retirement Fund has been named, along with public pension funds from Arkansas, Ohio and Sweden, as a lead plaintiff in a proposed securities fraud class action against JPMorgan Chase & Co. over trades made by Bruno Iksil, known as the “London Whale.”  U.S. District Judge George Daniels in Manhattan ruled Tuesday that lawsuits against the bank should be consolidated into one class action.  The pension funds allege they lost as much as $52 million because of fraudulent activities by JPMorgan’s London chief investment office. Read more…

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  • Steve Larson

  • Steve Larson
  • Steve Larson has been representing investors, consumers and employees in class actions in Oregon for over 20 years. He is a shareholder at the law firm of Stoll Berne in Portland, Oregon.
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