Chime has found itself in legal crosshairs for allegedly claiming an accolade from J.D. Power that the data analytics firm says it never bestowed – specifically, that Chime is “America’s #1 Choice for Banking.”
Chime allegedly used the phrase, as well as the phrase “#1 ranking based on J.D. Power survey,” in advertising materials. J.D. Power alleged, however, that the study Chime relies on for such claims was “a churn benchmarking study” that tracked new account openings across eight consumer account types.
Chime had the most new account openings in checking only, while not leading the other seven categories.
“Chime’s selective reliance on a single favorable metric to support a broad ‘America’s #1 Choice for Banking’ tagline ignores the data in the very same study that contradicts the claim, as well as other J.D. Power research showing that Chime’s competitors have more total customers and accounts,” according to the lawsuit, filed Tuesday.
A Chime spokesperson said the company disagrees with J.D. Power’s complaint.
“Chime’s ‘America’s #1 Choice for Banking’ claim is supported by publicly available J.D. Power data, which reported that Chime was chosen for more new checking account openings than any other listed financial institution or financial partner,” the spokesperson said, noting an additional accolade by Time Magazine in 2025.
“The complaint presents a selective and incomplete characterization of the facts, and we intend to defend our position vigorously,” the spokesperson said.
A spokesperson for J.D. Power did not immediately respond to a request for comment.
J.D. Power allegedly notified Chime in November that it could not use claim the “#1” accolade from the data analytics company.
Chime allegedly “not only failed to cure but expanded its misuse” of J.D. Power’s name and data across a variety of materials, including advertising channels, press releases, Securities and Exchance Commission-furnished materials, and a trademark application to the U.S. Patent and Trademark Office.
J.D. Power is asking the court to prohibit Chime’s use of the company’s trademarks, and to require Chime to embark on a “corrective” advertising campaign “sufficient enough to remedy consumer confusion.”