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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
    Eric Gibbs is a founding partner of Girard Gibbs LLP, a law firm dedicated to the protection of consumer... MORE >
  • A. J.
    De Bartolomeo
    A. J. De Bartolomeo is a partner at Girard Gibbs LLP with extensive experience representing consumers and... MORE >
  • Dylan
    Dylan is a partner at Girard Gibbs LLP, and for years has dedicated his efforts to protecting consumers... MORE >
  • Geoffrey
    Geoff Munroe is a partner at Girard Gibbs LLP dedicated to holding corporations accountable for using unfair... MORE >
  • David
    David Stein is a partner with Girard Gibbs and a member of our Consumer Attorneys Practice Group. David... MORE >
  • Amy
    Amy Zeman is an associate attorney and a member of our Consumer Attorneys Practice Group. Amy represents... MORE >
  • Scott
    Scott Grzenczyk is an associate at Girard Gibbs LLP and a member of the Consumer Protection Law Practice... MORE >
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