JPMorgan to Settle California Credit Card Suit for $100M
After a $136 million settlement to the Consumer Financial Protection Bureau (“CFPB”) along with Attorneys General in 47 states and the District of Columbia over violations related to sale and collection of credit card debt in July this year, JPMorgan Chase & Co. JPM will now have to shell out $50 million in compensation to customers and another $50 million in fines to the state of California over similar charges. California was not among the 47 states, which penalized JPMorgan more than $200 million in July. […]