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Chase Minimum Payment Class Action Lawsuit

On November 19, 2012, U.S. District Judge Maxine M. Chesney granted final approval of a nationwide, $100 million settlement with JPMorgan Chase & Co, on behalf of over a million customers who had loans with Chase promising a fixed, low-interest rate with a 2% monthly minimum payment to apply "until the balance is paid in full." According to the lawsuit, in November 2008 and June 2009, Chase unilaterally changed the terms of the loans by increasing the monthly minimum payment from 2% of the loan balance to 5% of the loan balance, more than doubling customers' monthly payments.

Eric Gibbs nominated for Consumer Attorney of the Year in Chase minimum payment class action

The Consumer Attorneys of California nominated Eric Gibbs for 2013 Consumer Attorney of the Year for his work representing plaintiffs against Chase bank and for successfully challenging the increased monthly minimum payments imposed on some Chase customers.

“We’re pleased with the Court’s decision,” stated Gibbs Law Group founder Eric Gibbs. “The settlement is the result of a hard-fought, difficult case for the plaintiffs, and we applaud Chase for stepping up and getting something meaningful done.”

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For more information about the Chase Minimum Payment class action lawsuit, fill out the form on the right or call toll-free (800) 254-9493. 

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  • Eric
    Gibbs
    Eric Gibbs is a partner at Gibbs Law Group LLP and Girard Gibbs LLP, and has dedicated his career to the... MORE >
  • A. J.
    De Bartolomeo
    A. J. De Bartolomeo is a partner at Gibbs Law Group LLP and Of Counsel to Girard Gibbs LLP with extensive... MORE >
  • Dylan
    Hughes
    Dylan is a partner at Gibbs Law Group LLP and Of Counsel to Girard Gibbs LLP, and for years has dedicated his... MORE >
  • Geoffrey
    Munroe
    Geoff Munroe is a partner at Gibbs Law Group LLP and Of Counsel to Girard Gibbs LLP dedicated to holding... MORE >
  • David
    Stein
    David Stein is a partner at Gibbs Law Group LLP and Of Counsel to Girard Gibbs LLP and a member of our... MORE >
  • Amy
    Zeman
    Amy Zeman is a partner at Gibbs Law Group LLP and Of Counsel to Girard Gibbs LLP and a member of our Consumer... MORE >
  • Scott
    Grzenczyk
    Scott Grzenczyk is an associate at Girard Gibbs LLP and a member of the Consumer Protection Law Practice... MORE >
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