A major credit card issuer has found a certain risk prevention measure not worth the trouble.

JPMorgan Chase & Co. is backpedaling on a $10 monthly fee it began charging some cardholders in January. The fee has generated a wave of consumer complaints, news coverage and lawsuits. The New York banking company said last week that it would stop charging the fee next month, and that it would credit any amounts collected to the customers' accounts.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.