Class Action Filed Against Chase Bank for Financial Damages and False Advertising After Acquisition of First Republic Bank
Plaintiffs file lawsuit after financial damages and false claims of automatic transfer of accounts after transition from First Republic Bank to Chase Bank
Today, Singleton Schreiber filed a lawsuit on behalf of plaintiffs, Keir Milan, his company, Keirco Inc., and all others similarly situated, against Chase Bank for their poor handling of the transition of First Republic Bank accounts to the new Chase bill pay program. This resulted in financial losses for the plaintiff and others who transitioned banks. The owners of the affected bank accounts were notified that there would be an automatic transition of the accounts and the associated bill pay program. This was false, as the pay program operated differently and changed bill pay protocol, resulting in lost interest, fees for low account balances, and an unexpected bill payment schedule.
Plaintiffs were deceived by the bank’s unclear language surrounding the transition and their failure to disclose pertinent information about the new function of the bill pay system. Plaintiff Keir Milan held both personal and business accounts with First Republic and when the transition to Chase occurred, he expected a rollover of his services based on the marketing materials he received. Customers of these banks had a reasonable expectation to trust their bank to maintain their procedures or notify them of changes, and Chase Bank failed them.
“First Republic Bank customers deserved clear language through the transitions of their accounts to Chase. People trust their bank and Chase took advantage of that trust when neglecting to share pertinent information,” said Chris Rodriguez, plaintiffs’ counsel and a Partner at Singleton Schreiber. “If the plaintiffs had known about the changes to expect, they may have made different financial choices, and they deserve that option.”
If an account of yours was transferred from First Republic Bank to Chase Bank, contact Singleton Schreiber at (619) 771-3473 for more information on the case.
Singleton Schreiber is a client-centered law firm, specializing in mass torts/multi-district litigation, fire litigation, personal injury/wrongful death, civil rights, and environmental law. Over the last decade, the firm has recovered more than $2.5 billion for clients who have been harmed and sought justice.
The firm also has the largest fire litigation practice in the country, having represented over 26,000 victims of wildfire, most notably serving plaintiffs in litigation related to the 2023 Maui wildfires, the Colorado Marshall wildfire, the Washington Gray wildfire, the Texas Smokehouse Creek wildfire, several California wildfires, and others.
