JPMorgan sues Viva Wallet in €916 million lawsuit 😳💸; Credit card debt sees historic drop 📉💳; Dave faces expanded DOJ lawsuit over hidden fees 🫣🏦
FinTech is Eating the World, 10 January
Hey Everyone,
Good morning & happy Saturday! We’re finishing another five days of FinTech on a weekend but it’s totally worth the wait. Today we’re looking at JPMorgan which is suing Viva Wallet in €916M lawsuit (what it’s all about & why it matters), credit card debt that sees a historic drop (what this tells us & what to expect next), and Dave which faces expanded DOJ lawsuit over hidden fees (quick recap of the case, why it matters + a bonus deep dive into Dave). Let’s just jump straight into the interesting stuff 🌶️
JPMorgan sues Viva Wallet in €916 million lawsuit 😳💸
The news 🗞️ Banking giant JPMorgan Chase JPM 0.00%↑ has intensified its dispute with Greek FinTech company Viva Wallet by filing two significant lawsuits in European courts.
The banking giant, which holds a 48.5% stake in Viva Wallet since 2022, is seeking €916 million in damages from CEO Haris Karonis and three other executives, alleging they undermined the value of JPMorgan's investment through illegal actions.
Let’s take a look at this.