Top court backs JPMorgan Chase fee hikes

By Reuters
Posted Jan. 24 at 9:14 a.m.

The Supreme Court ruled Monday that JPMorgan Chase & Co under an old federal regulation did not have to provide written notice before raising credit card interest rates to account holders who defaulted on a payment.

The justices unanimously overturned a ruling by a U.S. appeals court in California that a class-action lawsuit filed against the bank in 2004 could go forward.

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