Chase in $22 Million Credit Card Settlement
New York Times (09/21/00) Vol. 104, No. 38 p.C6; Bell, Allison

Chase will pay $22 million to settle law suits filed by its credit card customers. The suits claimed that Chase charged extra interest and late fees on payments that were submitted on time. Chase officials did not post payments to customer's accounts if they arrived past 9 a.m. on the due date. As part of the settlement, Chase will give card holders a grace period before charging late fees. Chase will also reimburse card holders for certain charges.


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