Table of Contents

• JPMorgan Chase

• Lyft

Top Stories Today

JPMorgan Chase

JPMorgan Chase has ramped up legal action against individuals it alleges exploited a 2024 system glitch to withdraw funds from fake check deposits before they bounced. Initially targeting high-value cases in federal courts, the bank is now pursuing smaller claims under $75,000 in state courts, with new lawsuits filed in Georgia, New York, Texas, and Florida. The so-called “infinite money glitch” gained traction on social media last August, prompting over 1,000 repayment requests from JPMorgan. Some customers have returned funds voluntarily, while others now face civil suits and potential criminal investigations. The bank is also challenging bankruptcy filings by those accused of fraud, asserting that debts from illicit actions shouldn’t be discharged.

Lyft

Lyft revealed plans to acquire European ride-hailing platform FreeNow for €175 million ($199 million), marking its first major expansion into the European market. The deal, expected to close in the second half of 2025, would give Lyft access to over 150 cities across nine countries, including Germany, France, and the U.K., with a combined user base of over 50 million. FreeNow, originally launched as myTaxi in 2009 and jointly owned by BMW and Mercedes-Benz, offers services beyond taxis, including e-scooters and e-bikes. Lyft CEO David Risher said the acquisition aligns with the company’s improved performance in North America and signals its readiness to compete internationally against rivals like Uber.

Thanks for reading, subscribe to The Standard Lens for more.