JPMorgan Sued Over Expensive Fees for Cryptocurrency Purchases
JPMorgan Chase is being sued for allegedly overcharging its customers who used credit cards to buy cryptocurrencies like Bitcoin. Reuters reports the lawsuit was filed on behalf of a proposed nationwide class action lawsuit.
Reuters also reporting that according to the lawsuit, JPMorgan not only charged extra fees, but also charged higher interest rates on cash advances than on credit cards and didn’t return the money when customers complained.
Coindesk reports lawyers are seeking the return of the fees and “additional statutory damages in the aggregate amount of $1 million.”
JPMorgan Chase representatives would not comment on the lawsuit according to multiple media outlets.