Here is some more information on the allegations made by a former Chase employee that Chase was practicing flat-out fraud when it packaged up a bunch of loans for sale with grossly incorrect information on the state of those loans. How poorly managed does a bank have to be to allow something like this to happen?
(The headline is from the movie Turk 182 if it doesn’t ring a bell.)
Lawsuits, Legal & regulatory | admin March 16, 2010 | 
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Well this is interesting. A former Chase assistant vice-president is suing Chase claiming that they substantially misrepresented the value of thousands of credit cards accounts that were packaged for sale. (story)
Bad bad Chase, Lawsuits | admin March 7, 2010 | Comments (0)
Chase is among the banks accused of demanding kickbacks to approve short sales.
Lawsuits | admin February 19, 2010 | Comments (0)
Looks like Chase may be in hot water for raising credit card customer interest rates without written notice. This lawsuit is haunting them back from 2006. (article)
Bad bad Chase, Fees & charges, Lawsuits | admin January 25, 2010 | Comments (0)
Chase stands among the second-lien-holding banks accused of demanding off-the-books payments from real-estate brokers and buyers to allow a short sale to go through. (story)
Lawsuits, Legal & regulatory | admin January 17, 2010 | Comments (0)
Daniel Hill was late a couple of times on his credit card in 2005 and in 2006; Chase jacked up the rate on his card to prime + 20.99%. Apparently they messed with the wrong guy because what followed was a four-year legal tussle that ended with Mr. Hill losing on all counts but surely wasting more of Chase’s money than the $13,000 or so Chase claimed he owed them at the end. Kind of interesting reading if you have the time. (legal opinion and order)
Fees & charges, Lawsuits | admin January 11, 2010 | Comments (0)
Chase this week settled a class action lawsuit filed against them for charging a post-closing mortgage fee for services they never provided. (story)
Fees & charges, Lawsuits | admin December 24, 2009 | Comments (0)
If you were a WaMu shareholder during the time WaMu was sold to Chase, the good news is that the fight is getting hot. The latest news is that a new suit has been filed against JP Morgan Chase accusing them of intentionally driving down WaMu’s share price (article) and WaMu banks former holding company is asking the government to turn over documents related to the bank seizure.
Lawsuits | admin December 18, 2009 | Comments (0)
