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Banking

May 12, 2010

Chase Sued Over Fund Seizure

New York-based JPMorgan Chase & Co. has been hit with a lawsuit alleging that the bank unlawfully seizes money from customers' accounts to collect on debts.

By Rebecca Beyer

Daily Journal Staff Writer

New York-based JPMorgan Chase & Co. has been hit with a lawsuit alleging that the bank unlawfully seizes money from customers' accounts to collect on debts. The potential class action, filed Monday in the Northern District of California by attorney James C. Sturdevant, of The Sturdevant Law Firm in San Francisco, claims the bank is violating a 1975 California law that requires notice be giv...

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