Chase Bank Overdraft Fees Class Action Settlement
Customers who held a Chase, Bank One, or Bank of New York checking account and were charged two or more overdraft fees in a single day between January 1, 2003 and March 29, 2010.
Settlement Closed
Who’s Eligible
You may have been eligible for this settlement if you met all of the following criteria:
- You held a checking account with Chase Bank, Bank One, or Bank of New York
- You were charged two or more overdraft fees on the same day
- The fees occurred between January 1, 2003 and March 29, 2010
- The overdraft fees resulted from Chase’s practice of reordering debit transactions from highest to lowest dollar amount
Eligible States
Claim Deadline
What You Need to Do to Get Paid
This settlement has been finalized and all payments have been distributed. The claims period is closed. Eligible class members received either automatic credits to their Chase accounts or checks mailed to their last known address. No further claims are being accepted.
Settlement Payout
Eligible members received either automatic account credits or mailed checks. Payout amounts varied based on the number and size of overdraft fees charged during the class period.
In 2012, JPMorgan Chase agreed to pay $110 million to resolve allegations that it improperly reordered debit transactions from highest to lowest amount to maximize overdraft fees charged to customers between 2003 and 2010.
Background of the Lawsuit
In 2009, Chase customers filed a class action lawsuit alleging that JPMorgan Chase deliberately reordered debit card transactions from highest to lowest dollar amount rather than processing them chronologically. This practice artificially increased the number of overdraft fees customers were charged. For example, if a customer had $100 in their account and made five small purchases of $10 each followed by one $95 purchase, Chase would process the $95 transaction first, draining the account and triggering overdraft fees on each of the five smaller transactions. In 2012, Chase agreed to a $110 million settlement and committed to processing transactions in chronological order going forward.
Frequently Asked Questions
Is the Chase overdraft fee settlement still open?
How much did Chase overdraft settlement members receive?
Did Chase change its overdraft policy after the settlement?
Are there any new Chase overdraft lawsuits?
Case Details
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Disclaimer
The information on this website is free to access and provided for general educational and informational purposes only. It is not legal advice. We summarise settlement information from official notices, court documents, settlement websites, administrators, and other primary sources where available.
Settlement details and deadlines may change. Always refer to the official settlement website or consult a licensed attorney for advice specific to your situation.
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