I have just received word from Green Welling LLP, with documentation attached, regarding Chase class action lawsuit #13: Michael A. Pendleton on behalf of himself and all others similarly situated, Plaintiff v. Chase Bank USA, N.A., Defendant.
There’s been some speculation on the part of site visitors in light of some recent headlines that the class action lawsuits would perhaps be impeded by Chase’s rescission of the $10 monthly finance charge for account holders (conflicting reports leave some uncertainty as to exactly how many).
Nevertheless, even though I am not an attorney, I can say that conceptually, Chase can’t simply say “Nevermind!” or hit a “rewind button” to make this whole issue simply vanish. There are other aspects of the change in terms still in play. For instance, the 5% minimum payment remains problematic for Chase, in that it is clearly coercive on a common sense basis, and lawsuits, including this one, do tend to point that out through formal statements relative to allegations.
There can and still should be plenty of fight left in us all, because at this point, a retraction of the fee does nothing to make up for the sheer hell that Chase has inflicted upon innocent account holders. Other posts have outlined areas of damage and demands that I have made, along with specific suggestions relative to punishment. The whole idea is to make sure Chase, as well as other credit card issuers recognize that we are not going to tolerate these abuses any longer.
Maybe you are one of the persons who got a retraction letter. If you decide to quit now, Chase will be back. Or another card company will send you a “sweet little notice” that changes your life. I encourage you to resist the temptation to rest on your laurels. This is no time to back down from the rest of the demands we must continue to make. Contact the class action attorneys and see if more lead plaintiffs for other states are still being sought (I’ll bet that they are), and step forward. Small businesses need us; the economy will not recover if they do not recover.
I have to clarify, since it is April 1st, I think that the number “13″ is a bad omen for Chase. This isn’t a prank. Here’s a link to the very real lawsuit, #13 (thanks Green Welling LLP!).
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on Apr 2nd, 2009 at 12:01 am
I am glad to see that class action lawsuits are still moving forward. I agree, we can’t give up now or they will be back. I also just read on bloomberg that Chase has now Sued WAMU and the FDIC and is claiming damages and may lose some of those assets!!!! HOW DOES IT FEEL when the shoes on the other foot Chase.
on Apr 2nd, 2009 at 7:25 am
Its time for the public to demand that Chase’s CEO be fired.
He has led the bank into its present state, and withought the bailout money Chase would be in even more dire straits than it is.
Why was GM’s Wagoner fired by the administration and not Chase’s?
Definitely a double standard. We are supporting an institution that is not only hurting the American public by its actions, but the economy as well.
on Apr 2nd, 2009 at 2:12 pm
Wagoner was not as generous to the Obama campaign as Dimon.
It’s a matter of public record.
Pay attention
on Apr 11th, 2009 at 4:05 pm
I’m so glad to see that there is a lawsuit against Chase for this. I have been writing representatives and complaining until I was red in the face – but to no avail. How can we join in to make our voices heard? I very much resent the fact that Chase is getting bailout money from my taxpayer money, yet is turning around and illegally squeezing its customers – those very taxpayers. How can we join in and protest?