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.