Dynamic Accident Lawyers: JPMorgan Chase FCRA Class Action Lawsuit Settlement

JPMorgan Chase Bank has agreed to pay $8.75 million in order to settle a class action lawsuit that alleged the company violated the Fair Credit Reporting Act (FCRA).

Plaintiff Eva Duncan of Texas filed the FCRA class action lawsuit over claims that JPMorgan Chase accessed consumer credit reports in order to conduct an Account Review Inquiry of customers even after they, for numerous reasons, no longer had a relationship with the bank.

JPMorgan Chase allegedly implements an Account Review Inquiry during an annual audit which means Chase requests the credit information on individual customers. This does not include prescreening potential customers.

According to the terms of the JPMorgan Chase FCRA class action lawsuit settlement, the banking institution has not only agreed to pay the cash Settlement Fund but they have also agreed to change annual auditing for a few years.

The JPMorgan Chase class action lawsuit settlement states that for the next three years, annual audits will confirm that individuals who owe no debt to Chase, retain no interest in any property securing a debt owed to Chase, and have no other account with Chase will be exluded.

JPMorgan Chase denies any liability in the FCRA class action settlement but agreed to the terms in order to avoid the cost of further litigation.

Who’s Eligible

JP Morgan Chase class action settlement Class Members include all borrowers or guarantors of a Chase or Chase-serviced account in which your consumer credit information was accessed by Chase through an Account Review Inquiry between Oct. 16, 2009 and Oct. 16, 2014, and at a time when the account met any one of the following criteria:

The account was closed with a zero balance
The account had been sold or transferred to a third party
The debt on the account had been discharged in bankruptcy
Chase had foreclosed the property securing the account loan
Chase had sold in a short sale or had transferred through a deed in lieu of foreclosure the property securing the account loan

Potential Award

Varies.

JP Morgan Chase class action lawsuit settlement Class Members will receive an equal portion of the $8.75 million Settlement Fund.

All remaining funds will be given to a nonprofit organization agreed upon by both parties and approved by the court.

Proof of Purchase

N/A.

No proof of purchase is required but Class Members must submit a valid Claim Form in order to receive a portion of the JP Morgan Chase class action lawsuit settlement.

Claim Form

CLICK HERE TO FILE A CLAIM »

Claim Form Deadline

03/23/2016

Case Name

Duncan v. JPMorgan Chase Bank, N.A., Case No. 5:14-cv-00912-FB in the U.S. District Court for the Western District of Texas

Final Hearing

04/27/2016

Settlement Website

www.ChaseFCRASettlement.com

Claims Administrator

Chase FCRA Settlement Claims Administrator
P.O. Box 43389
Providence, RI 02940-3389
888-736-2826

Admin@ChaseFCRASettlement.com

Class Counsel

Benjamin R. Bingham
Royal B. Lea, III
BINGHAM & LEA, P.C.

H. Anthony Hervol, Esq.
LAW OFFICE OF H. ANTHONY HERVOL

Darby Riley
Charles Riley
RILEY & RILEY

Defense Counsel

Kenneth A. Hill
William Lance Lewis
QUILLING, SELANDER, LOWNDS, WINSLETT & MOSER, P.C.

Noah A. Levine
WILMER CUTLER PICKERING HALE AND DORR LLC

Michael B. Goldberg,
PARKER IBRAHIM & BERG LLC

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