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Section IX.Q establishes a contractually shortened period within which account holders must file lawsuits against Chase relating to their deposit accounts. The full text of this section was referenced in the table of contents but not reproduced in the provided document excerpt.
This analysis describes what Chase's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
Contractually shortened statutes of limitations in consumer financial services agreements are subject to enforceability challenges in certain jurisdictions, particularly where state law establishes minimum limitation periods or prohibits contractual reduction of statutory timelines. Legal teams reviewing this provision should assess applicable state law constraints.
Interpretive note: The full text of Section IX.Q was not reproduced in the provided document excerpt; the specific shortened period cannot be confirmed, and enforceability depends on jurisdiction-specific law that cannot be assessed without the complete provision text.
This provision establishes a shortened period for filing legal claims against Chase related to deposit accounts. The terms establish that claims not filed within this period may be time-barred under the agreement, subject to applicable law.
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"Q. Permitted Time for Filing a LawsuitExcerpt from Chase's Deposit Account Agreement
1. REGULATORY LANDSCAPE: Contractually shortened statutes of limitations in consumer financial services contracts are subject to state law analysis; a number of states restrict or prohibit contractual reduction of statutory limitation periods for consumer claims. The enforceability of this provision varies by jurisdiction and the type of claim asserted. The CFPB and state attorneys general have authority to examine whether such provisions constitute unfair, deceptive, or abusive acts or practices. 2. GOVERNANCE EXPOSURE: Medium. The shortened limitation period is a standard term in financial services agreements but creates jurisdiction-specific enforceability uncertainty, particularly in California, New York, and other states with active consumer protection enforcement. 3. JURISDICTION FLAGS: California, New York, and Illinois courts have scrutinized contractually shortened limitation periods in consumer agreements. The provision's enforceability depends on the specific shortened period established (not available in the provided excerpt) and applicable state law minimums. 4. CONTRACT AND VENDOR IMPLICATIONS: The shortened limitation period interacts with the arbitration clause; claims that are time-barred under this provision could be raised in either arbitration or court depending on the nature of the dispute and the arbitration clause's scope. 5. COMPLIANCE CONSIDERATIONS: Legal teams should review the full text of Section IX.Q to confirm the specific shortened period and assess enforceability against the statutory limitation periods in states with significant customer populations. Customer-facing disclosures regarding this provision should be reviewed for adequate prominence.
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Contractually shortened statutes of limitations in consumer financial services agreements are subject to enforceability challenges in certain jurisdictions, particularly where state law establishes minimum limitation periods or prohibits contractual reduction of statutory timelines. Legal teams reviewing this provision should assess applicable state law constraints.
This provision establishes a shortened period for filing legal claims against Chase related to deposit accounts. The terms establish that claims not filed within this period may be time-barred under the agreement, subject to applicable law.
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