Chase Manhattan Settles Credit Card Suit

Chase Manhattan Corp. will pay at least $22.2 million to settle consumer lawsuits alleging that credit card customers were charged extra interest and late fees even when monthly payments arrived on time. Chase Manhattan Bank, the country’s No. 2 bank, will reimburse credit card holders for some charges and give them a grace period before charging late fees on payments as part of the settlement reached last month, said Britton D. Monts, a Dallas lawyer representing consumers. Chase shares closed off 38 cents at $46.50 on the Big Board.