David Kardonick, individually and on behalf of all others similarly and the general public v. JPMorgan Chase & Co., Chase Bank USA, N.A.
Published: May 28, 2011 | Result Date: Apr. 19, 2011 | Filing Date: Jan. 1, 1900 |Case number: 1:2010-cv-23235 Settlement – $20,000,000
Court
USDC Florida
Attorneys
Plaintiff
Allan Kanner
(Kanner & Whiteley LLC)
Louis I. Mussman
(Ku & Mussman P.A.)
M. Ryan Casey
(The Casey Law Firm)
Defendant
Andrew J. Soukup
(Covington & Burling LLP)
Facts
JP Morgan Chase & Co offered its credit card customers a service, "payment protection," which purportedly suspended credit card payments in the event of a covered event, such as death, disability, or loss of employment. Several consumers accepted Chase's offer and agreed to pay 0.89% of their monthly ending balance for this service each month.
Contentions
PLAINTIFF'S CONTENTIONS:
Plaintiffs alleged that Chase imposed payment protection charges on individuals who did not request it, signed up customers who were per se ineligible, and/or did not handle claims in good faith when a covered event occurred.
DEFENDANT'S CONTENTIONS:
Defendant denied the allegations.
Result
The parties settled for $20 million.
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