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A group of bank customers have filed a class action lawsuit alleging JPMorgan Chase and Bank of America sold the personal information they provided as a part of obtaining a credit card.
The plaintiffs claim that each of them supplied personal financial information to obtain Bank of America (BofA) or Chase credit cards including their Social Security numbers, names, addresses, banking account(s) and credit history.
Further, the Bank of America, Chase class action says the plaintiffs will continue to provide this information to the financial institutions as they continue to use their credit cards.
“Plaintiffs’ [personal financial information] is valuable to Defendants: they regularly enter into agreements with third parties to provide this [personal financial information] in exchange for money and other financial benefit,” alleges the BofA, Chase class action lawsuit.
“Defendants have described these parties as ‘affiliates’ and ‘non-affiliates.’ Under these agreements, Defendants have profited greatly from the sale of Plaintiffs’ PFI to third parties.”
The plaintiffs and other consumers have a property interest in their personal financial information, however, alleges the BofA, Chase class action lawsuit.
The banks have violated this interest by using consumers’ personal financial information to profit, say the plaintiffs, regardless of whether the information is de-identified or aggregated.
“Plaintiffs have not agreed that Defendants may profit from their [personal financial information],” alleges the BofA, Chase class action lawsuit. “Defendants have not disclosed to Plaintiffs that they profit from Plaintiffs’ [personal financial information].”
Further, “Defendants have not shared any of the profit from Plaintiffs’ [personal financial information] with Plaintiffs themselves,” says the Chase credit card class action lawsuit.
According to the Bank of America credit card class action lawsuit, the plaintiffs and other consumers entered into an agreement in order to obtain a credit card.
“Plaintiffs use their credit cards to establish short-term lines of credit with merchants, under which Defendants agree to pay merchants promptly and Plaintiffs agree to pay Defendants over time with interest,” states the BofA credit card class action lawsuit.
However, the plaintiffs say that they and other consumers never agreed to allow BofA or Chase to sell the personal financial information they obtained in order to access the credit cards.
The BofA, Chase class action lawsuit seeks to represent a nationwide Class of consumers who entered into cardholder agreements with the banks, along with a California subclass.
The plaintiffs accuse the banks of common law conversion, bailment liability, quantum meruit – or failure to properly pay for use of personal financial information.
The banking customers are seeking damages on behalf of themselves and putative Class Members, as well as a court order stopping BofA and Chase from selling their personal financial information.
The lead plaintiffs and proposed Class are represented by David M. Rosenberg-Wohl of Hershenson Rosenberg-Wohl A Professional Corporation.
The BofA, Chase Credit Card Class Action Lawsuit is Tabas, et al. v. JPMorgan Chase & Co., Bank of America Corporation, et al., Case No. 3:18-cv-07129, in U.S. District Court for the Northern District of California.
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40 thoughts onBofA, Chase Class Action Says Banks Sell Customers’ Credit Card Info
I am a BoA card holder, please add me.
Please add me as well I am an account holder; a mortgage holder and debit card holder
Add me
Chase and Bank of America card holder. Please add me.
I have a Bank of America card.
Please add me.
I have a boa card. Add me
I also have 2 chase plus a bank of America card
I have 2 chase cards also