ADVFN - Advanced Financial Network.
HOME» NYSE » J » JPM Stock Price » JPM Stock News

Jp Morgan Chase Share News

 Jpmorgan Chase & Co. Stock Price
JPM Stock Price
 Jpmorgan Chase & Co. Stock Chart
JPM Stock Chart
 Jpmorgan Chase & Co. Stock News
JPM Stock News
 Jpmorgan Chase & Co. Company Information
JPM Company Information
 Jpmorgan Chase & Co. Stock Trades
JPM Stock Trades

J.P. Morgan Credit-Card Settlement Advances

--J.P. Morgan Chase agreed to pay $100 million --Customers alleged company violated contracts by increasing minimum monthly payments --Fairness hearing on settlement is set for Nov. 16 A federal judge has granted preliminary approval to a $100 million settlement of a class-action lawsuit alleging J.P. Morgan Chase & Co. (JPM) violated credit-card borrowers' contract terms by raising their minimum monthly payments. The settlement, filed last month in U.S. District Court in San Francisco, would put to rest claims that the nation's largest bank by assets increased the amounts that certain customers were required to pay on their card-loan balances during the economic downturn. Judge Maxine Chesney has set a fairness hearing on the settlement for Nov. 16, according to a court document filed Thursday. A spokesman for J.P. Morgan declined to comment Friday. A master class-action complaint filed in 2009 said the plaintiffs accepted offers from J.P. Morgan to transfer loan balances at other banks to J.P. Morgan credit-card accounts. The customers were offered fixed-rate, long-term loans, though J.P. Morgan later increased the minimum amount borrowers must pay on their accounts each month to 5% of their outstanding loan balance from 2%, according to the complaint, filed on behalf of about one million credit cardholders. Borrowers who fail to make their minimum monthly payments typically pay late fees. Reuters first reported news of the settlement receiving preliminary approval Friday. The settlement is the latest card-related accord for J.P. Morgan, which along with numerous other large banks have been hit with lawsuits over overdraft policies and merchant transaction fees. J.P. Morgan earlier this year agreed to pay $110 million to settle claims it reordered customers' debit-card transactions to generate additional overdraft fees. Bank of America Corp. (BAC), PNC Financial Services Group Inc. (PNC) and other banks have agreed to settle similar lawsuits. Last month Visa Inc. (V), MasterCard Inc. (MA) and numerous banks that issue their credit cards, including J.P. Morgan, agreed to pay merchants $6.05 billion to settle allegations that they fixed the price of transaction fees retailers pay each time a customer swipes a card. J.P. Morgan's share of the settlement is $1.2 billion, the New York-based bank said in a regulatory filing Thursday. That settlement is pending in federal court in Brooklyn. J.P. Morgan is the second-largest U.S. credit card issuer based on purchase volume, according to the Nilson Report, a payments-industry newsletter. J.P. Morgan's shares were down 0.4% at $36.77 in recent trading. Write to Andrew R. Johnson at andrew.r.johnson@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Jp Morgan Chase (JPM)
DateTimeHeadline
09/03/201517:03:27Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
09/03/201517:00:22Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
09/03/201516:46:20Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
09/03/201515:43:40Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
09/03/201515:41:52Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
09/03/201515:41:16Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
09/03/201515:39:45Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
09/03/201515:26:44Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
09/03/201515:21:54Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
09/03/201515:04:19Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/03/201515:00:00“Delivering Happiness” to small business owners: Chase partners wit...
09/03/201513:47:21Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
09/03/201513:24:26Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/03/201512:39:53Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
09/03/201512:10:20Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
09/03/201506:03:37Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
09/03/201506:03:37Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
09/03/201506:03:36Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
09/03/201506:03:09Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
09/03/201506:03:06Free Writing Prospectus - Filing Under Securities Act Rules 163/433...

Jp Morgan Chase and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad