JPMorgan Fined $389 Million for Deceptive Credit Card Practices

September 20, 2013
Washington Post 
credit card news
The Office of the Comptroller of the Currency (OCC) on Thursday hit JPMorgan Chase with $389 million in penalties for duping millions of customers into buying expensive and unnecessary services when they signed up for credit cards. The country's largest bank will pay $309 million to reimburse about 2.1 million customers who were deceived into paying for credit monitoring and other add-ons between October 2005 and June 2012. The OCC said those customers enrolled in and paid for identity theft protection products but did not receive the total benefit of the products.









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