A $63 million proposed settlement was proposed in a North Carolina federal court over allegations that JPMorgan Chase bank overcharged servicemember customers under the Servicemembers Civil Relief Act.
The lawsuit, originally filed in 2016, alleged the bank charged fees and interest, both improperly high, on servicemember debts. The class filed a motion for preliminary approval and Chase, who does not admit to any wrongdoing, filed separately that is does not oppose the proposed settlement terms. The next step is for final approval by the Court.
The case is Childress et al. v JPMorgan Chase & Co., et al., case number 5:16-cv-00298 in the U.S. District Court for the Eastern District of North Carolina.
This blog is intended to provide information to the general public and to practitioners about developments that may impact Oregon class actions.