J.P. Morgan Chase & Co, a leading global financial services provider and one of the largest banking institutions in the US, was sued for charging undeclared fees to customers who used their credit cards to purchase cryptocurrency, treating the purchases as cash advances, Reuters reported April 11.
The lawsuit was filed on Tuesday in a federal court in Manhattan on behalf of a proposed nationwide class, accusing the bank for charging additional fees, sky-high interest rates on the “cash advances”, and refusing to refund the charges to customers who complained.