According to a class action lawsuit filed in Federal Court, Chase Bank
has a monopoly on debit cards issued to former federal inmates, allowing
them to charge exorbitant and unfair fees. The plaintiffs allege that
the bank has charged ex-inmates $10 for getting money from a bank teller
window, $1.50 a month for not using the card every 90 days, and 45 cents
to check the balance on their card. JP Morgan Chase Bank became the exclusive
issuer of debit cards for federal inmates in 2008. The plaintiffs, represented
by Golomb & Honik, are seeking class certification, an injunction,
disgorgement, rescission and reformation of agreements, and punitive damages
for unjust enrichment, conversion and unfair trade.
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