Federal bank examiners considered levying fines and sanctions when JPMorgan Chase informed them last year that faulty overdraft charges caused by a software glitch had impacted roughly 170,000 customers. But the bank urged the Office of the Comptroller of the Currency, or OCC, its chief regulator, to take less severe action, according to two people …
“Dear Michael, Thanks so much for providing the people with this opportunity to communicate with you! I am writing to you to seek advice since I find myself in a desperate situation with credit card debt. I will be as brief a possible. I am a Biology teacher and have been a teacher for the …
Over half a million consumers just caught a break with help from the Consumer Financial Protection Bureau. It appears the CFPB has taken tough action against a major bank for basically screwing over consumers who were being forced to pay debt they rightfully should not have had to. The CFPB Says… Today the Consumer Financial …
Now here is something you don’t get to witness often, if at all. Apparently there is a bit of disturbed blood milling about in the credit counseling world right now. In just doing some routine checking on activity I came across a very, very odd letter from the Association of Independent Consumer Credit Counseling Agencies …
Last week new information in the lawsuit between Morgan Drexen and the CFPB brought to light a commission compensated department called the Preferred Creditor Program. You can read that article, here. At least one commenter mentioned Morgan Drexen is not the only company to have such a program. If not, then an industry wide problem …
Attorney General Kamala D. Harris yesterday filed an enforcement action against JPMorgan Chase & Co. (Chase) alleging that the bank engaged in fraudulent and unlawful debt-collection practices against tens of thousands of Californians. The suit alleges that Chase engaged in widespread, illegal robo-signing, among other unlawful practices, to commit debt-collection abuses against approximately 100,000 California …
“Dear Steve, About 3 or 4 yrs ago Chase Bank, let me open a credit card with a line of credit for $1,300.00. We’ll at that time I had a decent job and figured I could afford to use it. Shortly after I lost my job and was not able to make payements. Now 4 …
A kind reader and tipster (send in your tips here) let me know that the class action suit against Chase bank for raising minimum monthly payments is proceeding to paying out soon. The suit was brought in 2009 on behalf of consumers that had engaged in balance transfers to Chase Bank under the impression the …
by Paul Kiel ProPublica An executive who the Justice Department says facilitated a scheme to defraud Fannie Mae and Freddie Mac is now spearheading JPMorgan Chase’s role in the government’s program to compensate victims of the big banks’ abusive foreclosure practices. The executive, Rebecca Mairone, worked at Countrywide and Bank of America from 2006 until …
“Dear Steve, Steve, i recieved a summons in regards to Chase bank: I contacted the law offfice that sent it to me and made arrangements to make payments on the debt owed, they are asking me for bills and checks stubs and bank information do i have to disclose that information to them? Also do …