JPMorgan Chase Bank Wrongly Charged 170,000 Customers Overdraft Fees. Federal Regulators Refused to Penalize It.

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 … Read more

Teacher With Reduced Salary is Struggling With Bank of America and Chase Bank

“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 … Read more

Chase Bank in Deep Shit Over Bad Debt Collection Practices

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 … Read more

Money Management International Accused in Kick-Backs in Class Action Settlement

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 … Read more

Does Moran Drexen’s Preferred Creditor Program Create a Problem for Consumers?

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 … Read more

California AG Sues Over Chase Credit Card Collection Activity

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 … Read more

Chase Bank Let Me Open a Credit Card. I Have Not Paid in 4 Years. Now I’m Getting Sued. – Lawrence

“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 … Read more

Chase Bank Alleged Fraud Executive Responsible for Foreclosure Victim Compensation

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 … Read more

Chase Bank Sent Me a Summons and Wants My Bank Details. Do I Have to Give It to Them? – Candy

“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 … Read more

It Was Surprisingly Easy to Settle Our Debt with Chase Bank

“Dear Steve, We have negotiated a $6,000 one time settlement with a CA (Client Services, Inc – St. Charles, MO) who are representing Chase. Chase charged off our credit card debt ($26,000) one month ago after 6 months of non-payment, but they still own the debt. We had tried to settle with Chase for $10,000 … Read more

What Can I Expect From Chase Visa as We Near Charge Off? – Sarah

“Dear Steve, Our $25,000 debt with Chase Visa is close to ‘charge off’ (approx. 30 days) as we are 6 months behind. So far, Chase have refused to settle – we had offered a $10,000 ‘one time’ (not installments) settlement payment to come from a family member. But most recently (they called about 2 weeks … Read more

Chase Bank Settles for Millions in Jacked Up Minimum Payment Case

JPMorgan has agreed to pay $100 million to dispose of a suit filed alleging that Chase Bank jacked up the minimum payments due on credit cards, improperly. The $100 million settlement is 45 percent of the $220 million in alleged up-front transactional fees that consumers paid for the promotional balance transfer loans. The suit alleges … Read more

Chase Bank Says They Won’t Settle Our Debt And Want Us to Go Bankrupt. – Sarah

“Dear Steve, My husnabd and I are in the process of trying to settle $25,000 (just under) of debt with Chase (Visa credit card) for $10,000 (it would be a ‘one time’ payment – to come from my wonderful brother). We are now 5 months without making a payment to Chase. We have offered them … Read more