{"id":6752,"date":"2018-04-12T00:44:19","date_gmt":"2018-04-12T00:44:19","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=6752"},"modified":"2018-04-12T00:44:19","modified_gmt":"2018-04-12T00:44:19","slug":"jp-morgan-sued-alleged-overcharging-on-credit-card-crypto-purchases","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/jp-morgan-sued-alleged-overcharging-on-credit-card-crypto-purchases\/","title":{"rendered":"JPMorgan Sued For Alleged Overcharging On Credit Crypto Purchases"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-4253 alignleft\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/02\/jpmorgan-chase.jpg\" alt=\"\" width=\"380\" height=\"250\" \/>A lawsuit has been filed on JPMorgan Chase &amp; Co in Manhattan federal court, accusing the bank of overcharging clients who used their credit card to purchase cryptocurrencies. The bank levied surprise charges soon after it announced the decision to stop allowing <a href=\"https:\/\/www.legitgambling.com\/cryptocurrency\">credit cards for purchasing cryptocurrencies<\/a> in late January. The bank treated the purchases as cash advances.<\/p>\n<p>The <a href=\"https:\/\/www.reuters.com\/article\/us-jpmorgan-crypto-currencies\/jpmorgan-sued-over-fees-for-cryptocurrency-purchases-idUSKBN1HI2T4\">lawsuit states that Chase hit customers<\/a> with both extra fees and substantially higher interest rates on cash advances than usually charged on credit cards and refused to refund upon complaints made by customers.<br \/>\nMary Jane Rogers, spokeswoman of Chase, refused to comment on the lawsuit, but said the bank halted processing credit card purchases of cryptos on February 3 because of credit risk. She further stated that customers of the bank can purchase cryptocurrencies using debit cards linked to their checking accounts, without incurring cash advance charges.<\/p>\n<p>The lawsuit was filed by Brady Tucker, an Idaho resident. Tucker was charged $143.30 in fees an $20.61 in surprise interest charges for five cryptocurrency transactions between January 27 and February 2. Tucker believes hundreds or possibly thousands of Chase customers could have been charged in a similar manner.<\/p>\n<p>Tucker filed the case, after the bank refused to withdraw the surprise fees when he raised a dispute through the customer service line. The lawsuit alleges that Chase did not provide any kind of warning to the client regarding the changes brought about in the calculation of fees. Chase \u201cstuck the plaintiff with the bill, after the fact of his transactions, and insisted that he pay it,\u201d the lawsuit said.\u201d<\/p>\n<p>The lawsuit (Brady Tucker et al v Chase Bank USA, U.S. District Court, Southern District of New York, No 18-3155) also complains Chase of violating the US Truth in Lending Act, which requires credit card issuers to inform customers of any major change in charges or terms. The plaintiff has raised a claim of $1 million for actual and statutory damages.<\/p>\n<p>Several banks in the US and UK, including Lloyds Banking Group Plc, Virgin Money, and Citigrop banned the use of creditcards to purchase cryptocurrencies earlier this year after Bitcoin plunged from about $20,000 to $13,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A lawsuit has been filed on JPMorgan Chase &amp; Co in Manhattan federal court, accusing the bank of overcharging clients who used their credit card to purchase cryptocurrencies. The bank levied surprise charges soon after it announced the decision to stop allowing credit cards for purchasing cryptocurrencies in late January. The bank treated the purchases [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[68,1],"tags":[],"class_list":["post-6752","post","type-post","status-publish","format-standard","hentry","category-cryptocurrency","category-usa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>JPMorgan Sued For Alleged Overcharging On Credit Crypto Purchases<\/title>\n<meta name=\"description\" content=\"A lawsuit has been filed on JPMorgan Chase, accusing the bank of overcharging clients who used their credit card to purchase cryptocurrencies. The bank levied surprise charges soon after it announced the decision to stop allowing credit cards for purchasing cryptocurrencies in late January.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legitgambling.com\/news\/jp-morgan-sued-alleged-overcharging-on-credit-card-crypto-purchases\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JPMorgan Sued For Alleged Overcharging On Credit Crypto Purchases\" \/>\n<meta property=\"og:description\" content=\"A lawsuit has been filed on JPMorgan Chase, accusing the bank of overcharging clients who used their credit card to purchase cryptocurrencies. The bank levied surprise charges soon after it announced the decision to stop allowing credit cards for purchasing cryptocurrencies in late January.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.legitgambling.com\/news\/jp-morgan-sued-alleged-overcharging-on-credit-card-crypto-purchases\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-12T00:44:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/02\/jpmorgan-chase.jpg\" \/>\n<meta name=\"author\" content=\"Cameron Bishop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cameron Bishop\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/jp-morgan-sued-alleged-overcharging-on-credit-card-crypto-purchases\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/jp-morgan-sued-alleged-overcharging-on-credit-card-crypto-purchases\\\/\"},\"author\":{\"name\":\"Cameron Bishop\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\"},\"headline\":\"JPMorgan Sued For Alleged Overcharging On Credit Crypto Purchases\",\"datePublished\":\"2018-04-12T00:44:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/jp-morgan-sued-alleged-overcharging-on-credit-card-crypto-purchases\\\/\"},\"wordCount\":363,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/jp-morgan-sued-alleged-overcharging-on-credit-card-crypto-purchases\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2018\\\/02\\\/jpmorgan-chase.jpg\",\"articleSection\":[\"Cryptocurrency\",\"USA\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/jp-morgan-sued-alleged-overcharging-on-credit-card-crypto-purchases\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/jp-morgan-sued-alleged-overcharging-on-credit-card-crypto-purchases\\\/\",\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/jp-morgan-sued-alleged-overcharging-on-credit-card-crypto-purchases\\\/\",\"name\":\"JPMorgan Sued For Alleged Overcharging On Credit Crypto Purchases\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/jp-morgan-sued-alleged-overcharging-on-credit-card-crypto-purchases\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/jp-morgan-sued-alleged-overcharging-on-credit-card-crypto-purchases\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2018\\\/02\\\/jpmorgan-chase.jpg\",\"datePublished\":\"2018-04-12T00:44:19+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\"},\"description\":\"A lawsuit has been filed on JPMorgan Chase, accusing the bank of overcharging clients who used their credit card to purchase cryptocurrencies. 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