Pressured, Chase to Refund Card Fees
AP
posted: 262 DAYS 1 HOUR AGO
NEW YORK -New York's attorney general has pressured Chase Bank into ending what he said was an "illegal" $10 monthly fee imposed on thousands of credit card accounts last November.
The bank has also agreed to give refunds totaling $4.4 million to about 184,000 customers.
Attorney General Andrew Cuomo had accused the bank of springing the fee on customers after first luring them in with promises of low interest rates.
He says banks can't promise one thing, then change the deal when times get tough.
Officials at parent company JPMorgan Chase & Co. did not immediately respond Monday to phone and e-mail messages.
Cumo says the settlement will save Chase customers $22 million over the next 12 months.
Copyright 2009 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. Active hyperlinks have been inserted by AOL.
2009-03-30 13:14:22
Related Posts
COMMENTS ( 0 )
Credit
PERSONAL FINANCE
- Bargains
- Banking
- Budgets
- Calculators
- College Finance
- Community
- Credit
- Deals
- Debt
- Economizer
- Fraud
- Insurance
- Loans
- Mortgages
- Recalls
- Recession
- Retirement
- Saving
- Simplification
- Specials
- Taxes
FROM THE BLOG
- Ask WalletPop
- Buyer Beware
- Celebs & Money
- Fantastic Freebies
- Kids and Money
- Loose Change
- Ripoffs and Scams
- Sex Sells
- Stimulate US
- The Dolans
- Video
INVESTING
- Stock Quotes
- Stock Charts
- Stock Ticker
- Portfolio
- Stock Screener
- Broker Center
- Mutual Fund Center
- ETF Center
- Money
- 24/7 Wall St.
- Financial Glossary
SMALL BUSINESS
In Debt Collections Hell?
Have you been the victim of ruthless debt collection tactics? Tell us how you've been mistreated or unfairly hounded for the money you owe.
Ask Me About Debt
Do you have a question about getting out of debt? Ask our personal finance expert Lita Epstein.
New credit card practices could cost consumers billions
Credit card companies continue to look for ways to skirt the new CARD Act. They've found a number of "hidden" price changes...
Could sitcoms help you get out of debt?
Pop culture is poised on the precipice of a mid-season replacement lineup as networks get ready to roll out their latest...
Ask the Dolans: How do I get a copy of my credit score?
Ken and Daria Dolan, America's first family of personal finance, answer your questions every Friday. Click here to ask Ken...
Debt Diet Part 5: Making men, women and money get along at the holidays
Experts tout talking about money as one of the best ways to avoid financial miscommunication in a relationship. But what...
