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 Associated Press. All rights reserved.
This material may not be published, broadcast, rewritten, or redistributed.
KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.
If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.powered by Disqus