New York Attorney General Andrew Cuomo Orders Chase Bank To Pay Its Customers Back

By: Associated Press Email
By: Associated Press Email

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This material may not be published, broadcast, rewritten, or redistributed.


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