Chase Bank “Check Loan” Contract Class Action
Result: $100 million settlement
Year: 2012
In re Chase Bank USA, N.A. “Check Loan” Contract Litigation
Lieff Cabraser served as Plaintiffs’ Liaison Counsel and on the Plaintiffs’ Executive Committee in Multi-District Litigation (“MDL”) charging that Chase Bank violated the implied covenant of good faith and fair dealing by unilaterally modifying the terms of fixed rate loans. The MDL was established in 2009 to coordinate more than two dozen cases that were filed in the wake of the conduct at issue.
The nationwide, certified class consisted of more than 1 million Chase cardholders who, in 2008 and 2009, had their monthly minimum payment requirements unilaterally increased by Chase by more than 150%. Plaintiffs alleged that Chase made this change, in part, to induce cardholders to give up their promised fixed APRs in order to avoid the unprecedented minimum payment hike. In November 2012, the Court approved a $100 million settlement of the case.
Video – Chase Check Loans
Civil Litigation News
Court Grants Final Approval to Settlement in Kona Coffee Class Action Advertising Fraud Litigation
U.S. District Judge Robert S. Lasnik of the Western District of Washington at Seattle has granted final approval to the latest and
Court Once Again Rules Against Volkswagen in Dutch Dieselgate Proceedings
Company must pay Consumer €4,440.00, Dutch Consumer Group – the Consumentenbond – Calls for Settlement Talks On Friday October 6, 2023, the
Mark Chalos Selected as Co-Lead Counsel for Plaintiffs in Generac Solar Power Systems Marketing Practice and Products Liability Litigation
The Generac Solar Energy Systems litigation focuses on allegations that energy tech giant Generac’s PWRECell System components are defective and potentially dangerous
