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JPMorgan Chase gets sued by angry crypto investor for high fees

The seemingly omnipresent ban of credit cards usage for Bitcoin has not saved JPMorgan Chase from a lawsuit of one angry investor. But his reasoning is also understandable considering that the main subject of his action are not the money he lost after Bitcoin went down, as one easily might suspect.

Instead, Brady Tucker thinks that JPMorgan Chase has violated its own financial obligations to warn about fees. As pointed out by the press, this investor has received a big bill on interest payment and other fees connected with his cryptocurrency investments by using the credit card of the company.

In response to the press inquiries, the company has noted: firstly, they have decided to stop allowing the use of credit cards for digital currency purchases exactly because of the unpredictable nature of this kind of finance and secondly, the use of debit cards is still not prohibited. In addition, debit card crypto purchases are not feed.

This explanation does not answer the most intriguing question of the story: why such giant fees without prior warning? Brady Tucker hopes to get the answer from the Manhattan federal court.

09-01-2018 21:00:00  |   News

Jamie Dimon, JPMorgan Chase leader, has called Bitcoin a fraud in the past, although later he openly admitted regretting this statement.

Image courtesy of Getty Images

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