JPMorgan Chase Sued for Charging Fees on Bounced Checks

Customers seek over $5 million in damages, alleging the bank's fees violate consumer protection laws.

JPMorgan Chase faces a lawsuit from customers over fees charged for depositing checks that bounced, seeking at least $5 million in damages.
The lawsuit alleges the fees are 'unconscionable' and 'predatory,' violating consumer protection laws in multiple states.
Chase stopped disclosing these fees in deposit agreements and fee schedules in March 2023, acknowledging their unfairness.
The Consumer Financial Protection Bureau has indicated that indiscriminately charging such fees is likely illegal.
The Biden administration has been advocating for a crackdown on hidden and surprise fees across various sectors.