Chase Bank has concluded court charges that will see the bank reimburse users excessive fees.


Key Takeaways

  • Chase Bank will repay users who were wrongfully charged “cash advance” fees while buying cryptocurrency.
  • The bank will pay back 95% of the $2.5 million that it charged.
  • JP Morgan remains highly involved in the blockchain industry.

Share this article

Chase Bank, a subsidiary of JP Morgan, has agreed to return $2.5 million of overcharged fees related to cryptocurrency transactions.

Chase Bank Lawsuit Has Concluded

The decision to repay customers is the result of a class-action lawsuit that concluded in Manhattan federal court this month.

Since 2018, Chase Bank has allegedly charged crypto users more than $2.5 million in unnecessary fees.

SIMETRI Pro BTC Trader

This was because the bank considered purchases of cryptocurrency “cash advances.” One lead plaintiff claims that he was charged over $160 in fees and interest after he used his credit card to buy cryptocurrency from Coinbase.

A judge ruled that Chase Bank’s classification was improper, deciding that the plaintiffs had shown that the term “cash advances” only applies to fiat currency, not cryptocurrency-related activity.

Though Chase Bank does not need to admit to wrongdoing as part of the settlement, it will repay users 95% of the fees that it charged.

Earn smarter with Cred
Earn smarter with Cred

JP Morgan & Cryptocurrency

JP Morgan CEO Jamie Dimon has been famously critical of Bitcoin and went as far as to call the cryptocurrency a “fraud.”

However, the company itself has built a reputation as one of the most blockchain-focused banks. Its enterprise blockchain (Quorum) and its stablecoin (JPM Coin) are two of its best-known crypto projects.

JP Morgan has also announced that it has entered a relationship with two major crypto exchanges: Coinbase and Gemini. The bank will reportedly handle some fiat transactions for those platforms.

Meanwhile, decentralization advocates hold that the involvement of JP Morgan and other banks undermines Bitcoin’s real purpose: a system of currency free from control and regulation.

Share this article

83 COMMENTS

  1. Howdy, I believe your site may be having web browser compatibility issues.
    When I look at your website in Safari, it looks fine however,
    if opening in IE, it’s got some overlapping issues. I merely
    wanted to provide you with a quick heads up! Apart from that, great site!

    Also visit my blog post :: best delta 8 thc carts

  2. I loved as much as you’ll receive carried out right here.
    The sketch is attractive, your authored material stylish.
    nonetheless, you command get got an nervousness over that
    you wish be delivering the following. unwell unquestionably come further formerly again as exactly
    the same nearly a lot often inside case you
    shield this increase.

    Here is my homepage – delta 8 thc for sale

  3. I am sure this piece of writing has touched all the internet viewers,
    its really really fastidious piece of writing on building
    up new blog.

    Feel free to visit my web site best CBD gummies

  4. Awesome blog! Is your theme custom made or did
    you download it from somewhere? A theme like yours with a few simple
    adjustements would really make my blog jump out. Please let me
    know where you got your theme. Thanks a lot

    Here is my page :: buy cbd

  5. I really love your site.. Pleasant colors & theme.
    Did you develop this web site yourself? Please reply back as I’m trying to create my very
    own site and want to know where you got this from or exactly what the theme is named.
    Many thanks!

    Here is my blog post; best delta 8 carts

  6. Your way of telling the whole thing in this paragraph is actually pleasant, every one be capable of effortlessly know it, Thanks a lot.

    my web blog; delta 8 thc

  7. I loved as much as you will receive carried out right here.
    The sketch is attractive, your authored subject matter stylish.
    nonetheless, you command get bought an nervousness over that you wish be delivering the following.
    unwell unquestionably come further formerly again as exactly the same
    nearly a lot often inside case you shield this hike.

    My blog post … best delta 8 companies

  8. Normally I don’t read article on blogs, however I would like
    to say that this write-up very forced me to try and do it!
    Your writing style has been amazed me. Thanks, very nice post.

    Here is my website Best Delta 8 THC Gummies

  9. After I originally commented I appear to have clicked the -Notify me when new comments are
    added- checkbox and from now on whenever a comment is
    added I get four emails with the same comment.
    Is there a way you can remove me from that service? Kudos!

    my homepage online slot

  10. First off I want to say wonderful blog! I had a quick question which I’d like to ask
    if you do not mind. I was interested to know how you center yourself and clear your mind prior
    to writing. I’ve had difficulty clearing my mind in getting my thoughts out
    there. I truly do enjoy writing however it just seems like the first
    10 to 15 minutes tend to be wasted just trying to figure out how to
    begin. Any suggestions or hints? Thank you!

    Also visit my web-site: best delta 8 gummies

  11. Greetings! I know this is kinda off topic but I’d figured I’d ask.
    Would you be interested in exchanging links or maybe guest writing a blog article
    or vice-versa? My website covers a lot of the same topics as yours and I feel we
    could greatly benefit from each other. If you might be interested feel free to
    send me an e-mail. I look forward to hearing from you!
    Superb blog by the way!

    Also visit my blog post – buy delta 8 thc gummies (Vickey)

  12. I like the helpful information you provide on your
    articles. I’ll bookmark your weblog and check once more right here frequently.
    I’m slightly sure I will be told many new stuff proper here!
    Best of luck for the next!

    my page :: delta 8 THC

  13. I’ve been browsing on-line greater than three hours
    these days, yet I by no means discovered any interesting article like yours.
    It’s pretty worth sufficient for me. In my opinion, if all site owners and bloggers made just
    right content material as you did, the web might
    be a lot more helpful than ever before.

    Take a look at my page – Instagram likes

  14. I like the helpful information you provide in your articles.
    I will bookmark your weblog and check again here frequently.
    I am quite sure I will learn a lot of new stuff right here!

    Best of luck for the next!

    Stop by my blog post – weed gummies

  15. Neat blog! Is your theme custom made or did you download it from somewhere?
    A design like yours with a few simple adjustements would really make my blog stand out.
    Please let me know where you got your theme. Thank you

    Also visit my web-site; delta 8 vapes

  16. I enjoy, cause I discovered exactly what I was looking for.
    You’ve ended my 4 day lengthy hunt! God Bless
    you man. Have a nice day. Bye

    my blog; weed near me

  17. I absolutely love your site.. Great colors & theme.
    Did you build this web site yourself? Please
    reply back as I’m attempting to create my own personal website and
    would love to learn where you got this from or what the theme is named.

    Thanks!

    Here is my site marijuana dispensaries near me

  18. Today, I went to the beachfront with my kids. I found
    a sea shell and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.” She placed
    the shell to her ear and screamed. There was a hermit crab inside and it pinched her ear.
    She never wants to go back! LoL I know this is totally off topic but I had to tell someone!

    Check out my homepage – US Magazine

  19. An impressive share! I’ve just forwarded this onto a co-worker who had been doing
    a little homework on this. And he in fact bought me dinner due to the
    fact that I discovered it for him… lol. So allow me to reword this….
    Thanks for the meal!! But yeah, thanks for spending the time
    to talk about this issue here on your web site.

    Feel free to visit my blog; buy Instagram followers

  20. Awesome blog! Do you have any recommendations
    for aspiring writers? I’m hoping to start
    my own site soon but I’m a little lost on everything. Would you propose
    starting with a free platform like WordPress or
    go for a paid option? There are so many choices out there that I’m completely overwhelmed ..
    Any suggestions? Kudos!

    Take a look at my page best kratom

  21. Hello! I understand this is kind of off-topic but I had to
    ask. Does managing a well-established blog such as yours
    take a massive amount work? I am brand new to running a blog but I do write in my diary on a daily
    basis. I’d like to start a blog so I can easily share my personal experience and feelings online.
    Please let me know if you have any suggestions or tips for brand
    new aspiring blog owners. Thankyou!

    My web page – maeng da

  22. viagra nach schlaganfall [url=https://demedvgr.com/#]viagra generika [/url] was macht viagra bei frauen viagra ab wann

  23. plaquenil dose calculator [url=https://ushydroxychloroquine.com/#]plaquenil drug [/url] does marijuanna interact w plaquenil plaquenil who makes

  24. I relish, result in I found just what I used to be having a look for. You have ended my 4 day long hunt! God Bless you man. Have a great day. Bye|

  25. I’m extremely pleased to find this web site. I need to to thank you for your time due to this fantastic read!! I definitely appreciated every bit of it and I have you book marked to check out new stuff on your website.|

  26. In fact when someone doesn’t understand then its up to other visitors that they will help, so here it occurs.|

  27. Pretty element of content. I just stumbled upon your website and in accession capital to say that I acquire in fact enjoyed account your weblog posts. Anyway I’ll be subscribing on your feeds or even I fulfillment you get admission to consistently rapidly.|

  28. The first round of negotiations between Russia and the United States on security guarantees will start at the very beginning of 2022. Russian Foreign Minister Sergei Lavrov, in an interview with RT, called the preliminary dates for the start of negotiations.

    “Following the results of the next contact, the organizational modalities of further work were essentially agreed upon. It was agreed that at the very beginning of next year, the first round should be a bilateral contact between our and American negotiators,” the minister said.

    Lavrov noted that Washington and Moscow have agreed to use three tracks of negotiations. He called the business reaction of American colleagues.

    Earlier, the Russian Foreign Minister called the words of NATO Secretary General Jens Stoltenberg inadequate regarding Russian proposals for security guarantees in Europe. Stoltenberg stressed that a compromise between Russia and NATO on the right of Ukraine to “choose its own path” and apply for membership in the alliance is impossible.

    Our sources:
    https://www.indiapost.com/all-you-need-to-know-about-the-use-of-kids-tracking-watches/

  29. Woah! I’m really digging the template/theme of this blog. It’s simple, yet effective. A lot of times it’s very difficult to get that “perfect balance” between usability and visual appearance. I must say that you’ve done a excellent job with this. Additionally, the blog loads super fast for me on Internet explorer. Excellent Blog!|

  30. Oh my goodness! Impressive article dude! Many thanks, However I am encountering troubles with your RSS. I don’t understand why I can’t join it. Is there anybody getting the same RSS issues? Anyone who knows the answer will you kindly respond? Thanks!!|

  31. I am regular reader, how are you everybody? This piece of writing posted at this web page is actually fastidious.|

  32. You could definitely see your skills within the work you write. The sector hopes for even more passionate writers like you who are not afraid to say how they believe. At all times go after your heart.|

  33. Hello just wanted to give you a quick heads up. The words in your post seem to be running off the screen in Safari. I’m not sure if this is a format issue or something to do with browser compatibility but I thought I’d post to let you know. The design and style look great though! Hope you get the problem solved soon. Thanks|

  34. Howdy! This is my 1st comment here so I just wanted to give a quick shout out and tell you I truly enjoy reading through your blog posts. Can you suggest any other blogs/websites/forums that deal with the same subjects? Many thanks!|

  35. Thankfulness to my father who informed me on the topic of this webpage, this website is really awesome.|

  36. Hi, Neat post. There’s an issue along with your web site in web explorer, may test this? IE still is the market leader and a big component to other folks will miss your wonderful writing because of this problem.|

  37. Does your site have a contact page? I’m having trouble locating it but, I’d like to send you an e-mail. I’ve got some suggestions for your blog you might be interested in hearing. Either way, great website and I look forward to seeing it grow over time.|

  38. Hi Dear, are you actually visiting this web site regularly, if so after that you will without doubt obtain fastidious knowledge.|

LEAVE A REPLY

Please enter your comment!
Please enter your name here