Published On: Thu, Apr 12th, 2018

JP Morgan Chase Sued For Overcharging Cryptocurrency Buyers

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High interest rates, as well as fees, charged from customers who’ve used their credit cards to purchase cryptocurrencies, have given merit to a full-fledged lawsuit filed against JP Morgan Chase & Co.
Going Class-Action
Brady Tucker claims JP Morgan Chase & Co has started treating his cryptocurrency purchases as cash advances back in January when, instead, they should have been regarded as buys. Due to this, the bank has supposedly started charging him with additional fees and with ‘sky-high’ interest rates of as much as 30% per annum.
Tucker, who is a single credit card holder from Idaho, also claims that there are other individuals who were supposedly treated in the same unfair, according to him, manner.

As such, he’s currently on the track of seeking class-action status for his suit filed back on Tuesday in Manhattan’s federal court on the grounds of:
Chase silently smacked them with instant-cash-advance fees, plus much higher interest rates than normal, and left them without any recourse.
The claimant is seeking a recovery of all the related fees as well as an additional $1 million awarded in damages.
Ambiguity Levels: Over 9000!
Back in February, both Visa and MasterCard …

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