Legally Reviewed by John A. Yanchunis, Trial Attorney at Morgan & Morgan on July 23, 2024.
Recently, a massive computer outage disrupted services at JPMorgan Chase, Bank of America, and Wells Fargo. This incident left many customers unable to access their accounts, complete transactions, or receive timely support, leading to financial and emotional distress.
Legal Grounds for a Class Action
Customers affected by such outages may have grounds for a class action lawsuit based on:
1. Breach of Contract: Banks have a duty to provide reliable services. Outages preventing account access or transactions can constitute a breach of contract.
2. Negligence: If the outage resulted from inadequate systems, security measures, or contingency plans, the bank could be considered negligent.
3. Consumer Protection Violations: Banks must provide transparent and reliable services under consumer protection laws. Significant outages causing financial harm may violate these laws.
Steps for Affected Customers
If you’ve been affected, take these steps:
1. Document Everything: Record dates, times, missed transactions, and financial losses.
2. Contact the Bank: Report the issue and request a formal response to create a paper trail.
3. Seek Legal Advice: Consult a class action attorney to evaluate your claim and guide you through the legal process.
Conclusion
Major bank outages, like the recent one at JPMorgan Chase, Bank of America, and Wells Fargo, can have significant impacts. Morgan and Morgan’s Class Action Attorneys understand the legal grounds in these types of cases and advocate for those harmed. If you or someone you know has been affected, take our free quiz to seek the compensation you deserve.