Settlement Structure: Claims Made
Active: Closed
Closed Settlement Statement:
According to court documents, the claim submission deadline has passed. Please contact the claims administrator if you have any questions.
Case Summary:JPMorgan Chase is settling a class action alleging it did not pay interest on escrow accounts where it was holding homeowners’ advance payments related to mortgages it was servicing, such as payments for property taxes and homeowner’s insurance. The states include Connecticut, Maryland, Minnesota, New York, Rhode Island, and Wisconsin.
Docket Number:2:20-cv-00456-RPK-LB
Company: JPMorgan Chase Bank NA
Filing Deadline: January 1, 2100
Class Period: January 1, 2010 to April 9, 2021
Objection Deadline: February 21, 2022
Exclusion Deadline: February 21, 2022
Final Approval Hearing: March 17, 2022
Proof of Purchase:You do not need to submit a claim or provide proof to receive a payment.
Eligibility:You may be eligible if you are identified in Chase’s records as holding a mortgage it serviced secured by real property in Connecticut, Maryland, Minnesota, New York, Rhode Island, and Wisconsin, and during your state’s class period, you would have been due interest on an escrow account maintained by Chase according to the laws of your state, during your state’s class period. The class periods are:
Connecticut, Minnesota, New York, or Wisconsin: January 1, 2014 through April 9, 2021
Maryland: January 1, 2017 through April 9, 2021
Rhode Island: January 1, 2010 through April 9, 2021
Note that certain types of mortgages are excluded. For information on excluded mortgages in your state, see the Notice at http://www.interestonescrowsettlement.com/media/3709101/v12_jmc_notice_010622.pdf.
Typical Settlement Amount:Amounts paid will be based on the amount of unpaid interest for the mortgage escrow balance during the class period. Class members will receive a minimum payment of $5 plus a proportionate amount of the remaining net settlement fund. Average amount estimated at $24, but amounts may be higher or lower, depending on the balance in each person’s mortgage escrow account.
Total Settlement Amount: $11.5 million
Class Representative Proposed Incentive Fee:$10,000
Law Firms:
Giskan Solotaroff Andersen and Steward LLP
Lieff Cabraser Heimann & Bernstein
Tusa PC
Case Name: Cymbalista v. JPMorgan Chase Bank, N.A.
Settlement Website: JPMorgan Chase Interest on Escrow Settlement Website
Claims Administrator:
KCC Class Action Services, LLC
Cymbalista v. JPMorgan Chase Bank, N.A. Settlement Administrator
P.O. Box 43420
Providence, RI 02940-3420
855-786-1046
