Chase Credit Card Payment Protection Class Action Lawsuit Settlement

If You Were A Chase Credit Card Holder And Were Enrolled In Or Billed For A Payment Protection Product At Any Time Between September 1, 2004 and November 11, 2010, Your Rights May Be Affected By A Class Action Settlement.

A class action settlement has been reached in a class action lawsuit against JPMorgan Chase & Co. (“JPMorgan” or “JP Morgan”) and Chase Bank USA, N.A. (“Chase Bank” or “Chase”) (collectively “Defendants”) in the United States District Court for the Southern District of Florida (styled Kardonick, et. al. v. JPMorgan Chase & Co. et al., Class Action Case No. 10-cv-23235) alleging, among other things, that Chase engaged in breaches of contract, breaches of implied covenant, and violations of the unfair and deceptive acts and practices statutes of various states, in connection with marketing and administering Chase Payment Protection Products, according to the Chase Payment Protection Product class action settlement website and settlement notice.

Chase Payment Protection Product settlement class members reportedly include the following persons, unless otherwise excluded from the settlement:

All Chase credit card holders (including holders of Chase-issued credit and charge card accounts and Chase-issued business cards and private label cards such as Chase-issued Toys “R” Us, Kohl’s, TJMaxx, Best Buy, or Circuit City cards) who were enrolled in or billed for a Payment Protection Product at any time between September 1, 2004 and November 11, 2010. Excluded from the class are all Chase cardholders whose Chase credit card accounts that were enrolled or billed for a Payment Protection Product were discharged in bankruptcy.

“Payment Protection Product” reportedly means any products offered by Chase (whether directly or indirectly through co-brand, private label, or other partners) under which credit card debt may be cancelled or suspended under certain circumstances such as death, disability, hospitalization, or unemployment, but does not include non-credit card products.

Payment Protection Products reportedly include, but are not limited to:

• Chase Payment Protector
• Chase Payment Advantage
• AccountProtection Plan
• Total Protection Plan
• Account Security Plan
• Account Ease; and
• Any other Chase business card or private label account debt suspension or cancellation product

The Chase Payment Protection Products class action lawsuit settlement reportedly provides that Chase has agreed to create a Settlement Fund of twenty million dollars ($20,000,000), plus additional consideration in the form of credit to the unpaid balances of certain Charged-Off Class Members, to fund the payment of claims as well as the costs of the litigation, the settlement, and an attorney fee award in an amount to be approved by the Court. Each class member who timely submits a valid claim form will reportedly receive a share of the settlement fund after reduction for administrative costs, attorney fees, and legal expenses as approved by the Court.

For more information on the Chase Payment Protection Products class action lawsuit settlement, including information on how to participate in, object to or opt out of the settlement and the deadlines by which to do so, visit the Chase Payment Protection Products class action Settlement website:

www.kardonicksettlement.com

If You Have Thoughts On The  Chase Payment Protection Products Class Action Settlement, Share Your Class Action Settlement Comments Below.