On September 27, 2011, Judge Maxine Chesney in the federal district court in San Francisco ordered that a class notice was to be mailed to all class members in the “Check Loan” Chase Credit Card class action. The lawsuit claims that Chase violated the implied covenant of good faith and fair dealing when it increased the minimum payment from 2% to 5% of the outstanding balance. The notices should be mailed out shortly, and the opt out deadline will be January 30, 2012, or 60 days after the summary notice is mailed.
Attached is the form of the summary notice the court approved: Chase Notice
