Chase screws the little guy, and may lose big
By David Lazarus
July 20, 2010Matthew Pinnavaia sued Chase after the bank closed his two business accounts and four personal accounts even though the balance on each card was no more than $4,000. He may win a $2-million judgment.
Matthew Pinnavaia was among the hundreds of thousands of people whose credit card accounts were either shut down or limited over the last couple of years as banks grappled with the meltdown of the financial markets.
Unlike most people, though, Pinnavaia decided to do something about it. He taught himself the law and sued Chase bank.
Now there’s a chance — a slim one, perhaps, but a chance — that he could be awarded $2 million in damages by a San Diego County Superior Court judge because Chase failed for months to respond to his lawsuit, as required by state law.’
Update: As of 7/24/10, there are 20 comments on this story at LATimes.com and not one of them is in defense of Chase bank!
Bad bad Chase, Lawsuits | admin July 21, 2010
