Reported about 2 months ago
JPMorgan Chase has been sued in a Manhattan federal court for allegedly sweeping customer cash into accounts with unreasonably low interest rates, as part of a proposed class action lawsuit. The plaintiff, Dan Bodea, claims the bank has been negligent in its fiduciary duties, benefiting disproportionately while offering customers inadequate returns on their idle cash. The lawsuit follows similar actions against other financial institutions and seeks unspecified damages for these alleged breaches.
Source: YAHOO