JPMorgan to pay $2.5 million to settle cryptocurrency fee class action lawsuit
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JPMorgan to pay $2.5 million to settle cryptocurrency fee class action lawsuit
JPMorgan Chase Bank, a commercial division of U.S. banking giant JPMorgan Chase, has agreed to pay $2.5 million to settle a class-action lawsuit.
Navigating Web3 tides with focused insightsAccording to Bitcoinist, U.S. banking giant JPMorgan has agreed to pay $2.5 million through its commercial division, JPMorgan Chase Bank NA, to settle a class-action lawsuit. The lawsuit relates to the bank's previous decision to classify cryptocurrency purchases made with credit cards as cash advances. For years, JPMorgan Chase Bank allowed credit card payments for cryptocurrency, but in 2018, the bank unexpectedly began treating such transactions as "cash advances," resulting in higher fees for cardholders.
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