JPMorgan accused of fraud with cryptocurrencies: the details of the lawsuit

JPMorgan accused of fraud with cryptocurrencies: the details of the lawsuit

If before Jamie Dimon didn’t believe in karma, he believed.

According to Reuters, JPMorgan the company has been trial. Brady Tucker, of Idaho, filed a lawsuit in a court in new York. The plaintiff claims that JPMorgan will charge additional fees and much higher interest for cryptocurrency transactions, compared to the charges for transactions with credit cards. Customers expressed their outrage, however, the Bank did not respond to their requests to lower the fee.

Earlier this year, the Bank has banned its customers to buy cryptocurrency using a credit card. Bankers feared that users who buy such a highly volatile product, will not be able to return the borrowed money from the Bank. But customers can still use for these purposes a debit card.

Brady Tucker, the plaintiff, decided to give back to the Bank after his card was charged $ 140 in the form of “commissions” and another 20 dollars as a sudden interest fees for 6 transactions.

According to the lawsuit, there are “hundreds” and “possibly thousands” of other customers that also were forced to pay these unexpected fees.

Before turning to the court, Tucker wrote to the customer service JPMorgan and gave them the possibility not to bring matters to proceedings at law, but to no avail.

The attorneys of Tucker’s claim that the Bank violated the US Law about truth in lending, which aims to protect consumers from “unfair methods of billing for credit card”. It also States that financial institutions are required to inform customers about any changes to the terms and conditions in writing.

CEO of JPMorgan Jamie Dimon was often called Bitcoin a fraud, it seems that this word came back to him like a boomerang.

Let's Disqus