09 Aug Chime Digital Bank Outage Class Action Settlement
- An appeal was filed in this case on .
- A judge granted final approval to this settlement .
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Chime digital bank has agreed to pay $1.5 million to resolve allegations that a 2019 service disruption caused its users financial damages. The settlement deal provides payments of up to $750 as compensation for resulting losses.
“That means we don't profit off of you,” the site says. “We profit with you: every time you use your Chime debit card, we earn a small amount from Visa (paid by http://1stamericanloan.com/title-loans-al the merchant).”
The company is largely fee-free, charging only a $2.50 when a member takes out cash at an out-of-network ATM or makes “an over-the-counter withdrawal.”
Chime also says its customers can get paid “up to 2 days early” when using direct deposit and can help people grow their savings “automatically.”
The recent settlement resolves claims from plaintiffs Ryan Richards, Ruba Ayoub, Brandy Terbay and Tracy Cummings in their Chime class action lawsuit.
As a result of these outages, the plaintiffs and 5 million other Chime customers were allegedly prevented from accessing their accounts for several days.