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JPMorgan Paying Back Those $38 Cups Of Coffee

From blogs.wsj.com

Another bank is paying millions to reimburse those $38 cups of coffee. J.P. Morgan Chase, the bank that now holds the most deposits in the country, has reached an agreement to pay $110 million to those who paid heavy fees for the proverbial “cup of coffee” that overdrafted their accounts. The settlement, revealed in a court document late Friday night, would mark another big victory for a long-running consolidated suit that’s going on in Miami federal court. Bank of America agreed early last year that it would pay a much larger $410 million payment to settle the suit. Wells Fargo, in a separate case, had been ordered ... (full story)

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