Chase minimum payment lawsuit granted class status

This is good news for credit card customers who were bullied into closing their accounts or accepting rate increases by Chases raising of minimum payments from 2% to 5%.  For more information on this lawsuit (and to join) go here.

Certification Granted in Chase Lawsuit
In May 2011, after extensive briefing and oral argument, the Court granted plaintiffs’ motion for class certification. This is an important ruling because it means that the case can proceed to trial as a class action, collectively representing all who fall within the class definition below:

All persons or entities in the United States who entered into a loan agreement with Chase, whereby Chase promised a fixed APR until the loan balance was paid in full, and (i) whose minimum monthly payment was increased by Chase to 5% of the outstanding balance, or (ii) who were notified of a minimum monthly payment increase by Chase and subsequently closed their account or agreed to an alternative change in terms offered by Chase.


  • By Sue Roman, May 30, 2011 @ 10:39 pm

    No protection from Chase.They suck.I’m pulling my money from JP Morgan.I got a scam cosmectic procedure.I want my money refunded.They can well afford it.

  • By Manu, June 17, 2011 @ 8:07 pm

    I’m a veteran, I’ve been with chase since 97, when my original lender sold my home on the secondary markets and from the 1st mth it has been bumpy. We have a program called Irrl which is just a reduction in rates to refinance, and I’ve been attempting to get an update for awhile. So I then went online and found that my login is no longer valid, so I go through the security features and find at the end of 30 minutes that they have my old phone number and email address? So I contact customer service and they say do it online so I go back and repeat the same process and go to update my online profile as the CR told me, but in order to update my profile I need to log in which takes me back to where I was last week. What other large company you know has to log on to a secure website to get customer service contact?

  • By Adam, December 28, 2011 @ 6:11 pm

    Concerning the Chase Minimum Payments lawsuit

    There seems to be more than one law firm claiming to have filed this lawsuit. How do I know who it is that’s actually representing the plaintiff in the chase min payment case? I received notice from Chase recently. I have concerns about it. My biggest concern is that this is “Chase suing itself” in order to legally put the terms of my loan back to where it was before. After they pulled this crap a few years ago, I personally pushed back and told them I wouldn’t pay them anything at all if they didn’t give me better terms than I had before they did it. They conceded and now I have a 2% interest rate and a 2% minimum payment. If plaintiffs win in this case, from what I understand, my terms will go back to a 5% interest rate (not good for me). So, I want to know how much money I would be receiving in that case; so I can decide whether I should opt out or not.

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