JPMorgan Pays Inmates for Fees on Get-Out-of-Jail Debit Card
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Lawsuit claimed the bank swamped ex-inmates with steep charges
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Settlement is to be split by thousands of former prisoners
JPMorgan Chase & Co.’s contract to provide debit cards to inmates released from federal prison may have backfired after a former convict raised a ruckus.
The bank agreed to pay a total of $446,822 to thousands of ex-prisoners to settle a class-action suit claiming JPMorgan ripped them off with $10 fees to withdraw money from a teller window and $2 charges for using non-network ATMs, according to a filing on Monday in federal court in Philadelphia.
JPMorgan’s contract with the Federal Bureau of Prisons was a scheme “to exploit one of the most vulnerable groups imaginable — releasees from federal corrections facilities,” according to the complaint. “Every cent counts for federal releasees who are coming out of prison without an immediate means of income.”…
JPMorgan Pays Inmates for Fees on Get-Out-of-Jail Debit Card
