This issue just happened to me again ubuntu 16.04 ... although not
specific to that release as it happens on earlier releases too

 ... it was after changing my Google password
... I then needed to reboot for another reason
 ... after boot I then launched Chrome browser Version 50.0.2661.11 dev 
(64-bit) and then noticed very high CPU usage

 ... on Chrome browser top right of menubar was a yellow triangle
 ... I clicked it and was prompted to login to Google

 ... after this login the high CPU usage immediately stopped

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https://bugs.launchpad.net/bugs/1174162

Title:
  chrome-browser makes gnome-keyring-daemon use 100% cpu

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