One of the largest US banks, JPMorgan Chase, will pay $ 2.5 million to settle a class-action lawsuit. Claims are related to additional commissions and increased interest rates that the institution has charged from transactions related to cryptocurrencies, reports Finance Magnates.
In a lawsuit filed two years ago, the bank was accused of charging unexpected fees to customers. Problems arose after JPMorgan banned the purchase of cryptocurrencies with credit cards and began to consider such transactions as an advance in cash.
The bank’s support service rejected customers’ attempts who unexpectedly encountered higher fees and interest to challenge additional write-offs.
JPMorgan recommended they use debit cards to finance cryptocurrency transactions.
Recall that in early May it became known that the bank discourages its customers from investing in cryptocurrencies. At the same time, JPMorgan began to serve bitcoin exchanges.