JPMorgan Military Foreclosure Suit Settled For $56 Million

Businessweek:

Bloomberg: JPMorgan Chase & Co., one of the lenders criticized over improper foreclosures on military families' homes, agreed to pay $56 million to settle claims it overcharged service members on their mortgages.

Read the whole story: Businessweek

Comments

[tonycartman]

12:04 PM on 05/20/2011

What a huge expense... why?

Regards
Tony
http://www.foreclosurelistings.com/

[floodmfx]

01:17 PM on 04/26/2011

yet another slap on the wrist -
man, it must be nice to own the government

[Sundialsvc4]

01:27 PM on 04/26/2011

$$ The $$ law $$ does $$ not $$ say $$ that $$ the $$ law $$ must $$ be $$ enforced. $$

$$ So $$ sorry $$ you $$ got $$ your $$ left $$ arm $$ blown $$ off $$ and $$ so $$ sorry $$ we $$ took $$ your $$ family's $$ house $$ but $$ it $$ was $$ a $$ very $$ profitable $$ deal $$ for $$ us. $$

$$ We $$ paid $$ 56 $$ million $$ to $$ the $$ government $$ and $$ just $$ a $$ couple $$ billion $$ more $$ to $$ our $$ friends $$ in $$ Washington $$ DC. $$

$$ The $$ law $$ does $$ not $$ say $$ we $$ have $$ to $$ do $$ anything $$ at $$ all. $$

$$ He $$ who $$ has $$ the $$ gold $$ BUYS $$ the $$ rules. $$

$$ Sorry $$ about $$ your $$ arm. $$

[Titus]

11:16 AM on 04/26/2011

This is utterly despicable behavior on the part of JP Morgan. They knew better and did this anyway. Nothing like supporting the troops...

What's next JP Taking out life insurance policies on the soldiers?

[nopilikia]

01:40 AM on 04/26/2011

Steal billions......fine of millions.....what a joke.

[loki]

10:22 PM on 04/25/2011

no justice. Just a fake fine that will never be paid, and no admission of guilt so they can do it again in the future

[anonymous67]

10:07 PM on 04/25/2011

This bank has committed TENS OF THOUSANDS OF FELONIES -- and we DEMAND THAT OUR LAWS BE ENFORCED.

These are NOT victimless crimes -- millions of Americans have been cheated of their savings, homes, jobs and retirement. And still the FRAUD just rolls on -- and NOBODY is prosecuted.

[ResearchtheFacts]

11:18 PM on 04/25/2011

I agree with you.

[Sundialsvc4]

01:36 PM on 04/26/2011

So do I.

But I just paid $1 million, again, today to every Member of Congress. Just like I do every day.

"Article 2, Section 4?" Fuhgeddaboudit. No one's gonna think the word 'bribery' or allow anything at all to be done to stop the endless flow of C-A-S-H which, according to them, "the Supreme Court just up-and-declared was OK, anyhow."

Which means, for one thing, that wearing tri-fold hats and sipping Tea is not in any way useful. That is, as it was intended to be, a neutering siphon for the public anger, designed merely to dispel it in harmless-to-status-quo ways.

You gotta get angry. I mean, really, really angry. Angry enough to become irresistible. Angry enough NOT to resort to violence, but rather to work scrupulously within the system to FORCE IT to bend to the public's will, and not to the will of those who know that "money talks."

"In government, you don't get what you deserve. You get what you compel."

I believe that this kind of change will never occur, initially, from WITHIN the country. It will occur from without, when the precious (but wholly undeserved, now) status of the US Dollar is swept away overnight, never to return. Only this, "unstoppable, legal, and with no one to shoot at," will suffice.

[UtahSlim]

09:40 PM on 04/25/2011

$27 million to 6000 aggrieved parties. $4,500 per family. Boy the regulators and the Justice department sure are holding their feet to the fire.

[April22]

09:24 PM on 04/25/2011

No wonder the ad campaign on tv of late, where they are promoting themselves as community builders - schools, hospitals, and the rest of the facade.

[Julie-Ann Amos]

05:34 PM on 04/25/2011

Will the banks ever learn that they serve the people? What a waste of money and what a horrible tragedy. It’s about time that these money-grabbing institutions got a little pay back. Now, it’s time for them to get the service thing down and start doing their customers right. This article (http://www.upyourservice.com/learning-library/customer-service-perception-points/you-are-vulnerable-at-your-lowest-perception-point) might just help them out.

[Apathy Man]

04:04 PM on 04/25/2011

Yet another of the many (mistakes) by these bank and still they are not being held accountable for anything. When will people realize that we need to take steps on our own by removing our money from them, since the government is already bought.

[cats530]

06:34 PM on 04/25/2011

Bought and paid for is right. Check this article out...legislation voted 28-2 by Senate mysteriously "disappears" because the banksters didn't like it...

http://4closurefraud.org/2011/04/25/4closurefraud-bombshell-arizona-sb-1259-settlement-sellout-conference-with-colonial-bank-and-michelle-reagan/

[barbra1971]

08:51 PM on 04/25/2011

Unbelievable! Shocking!

[Tom Langley]

03:56 PM on 04/25/2011

Mullins reported that the top eight stockholders of the New York Fed were, in order from largest to smallest as of 1983, Citibank, Chase Manhatten, Morgan Guaranty Trust, Chemical Bank, Manufacturers Hanover Trust, Bankers Trust Company, National Bank of North America, and the Bank of New York

Mullins then showed that many of these banks are owned by about a dozen European banking organizations, mostly British, and most notably the Rothschild banking dynasty. Through their American agents they are able to select the board of directors for the New York Fed and to direct U.S. monetary policy

... The most powerful men in the United States were themselves answerable to another power, a foreign power, and a power which had been steadfastly seeking to extend its control over the young republic since its very inception. The power was the financial power of England, centered in the London Branch of the House of Rothschild. The fact was that in 1910, the United States was for all practical purposes being ruled from England, and so it is today'

...the day the Federal Reserve Act was passed, "the Constitution ceased to be the governing covenant of the American people, and our liberties were handed over to a small group of international bankers"
Eustace Mullins

They own your governments bank, they profit from war via government borrowing then forclose on our sons and daughters mortgages while the fight and die in thier interest. Time to burn these banker to the ground folks.

[christopherflynn]

03:52 PM on 04/25/2011

aren't they swell???? a drop in the bucket for those pre*dat*0rs...................

[Chris Stevens]

03:42 PM on 04/25/2011

JPmorgan are also manipulating the silver and Gold market - do a google search - same set up and they are getting away with this . Our government needs to increase their watch over these huge companies that prey on the innocent

[KarlaElisa]

03:14 PM on 04/25/2011

56 million? well that's a spit ball in the trough. what'd they make doing this? the penalty ought to be 1000 times that.

[christopherflynn]

03:53 PM on 04/25/2011

BINGO!!!!!!!!!!!!!!!!

[RedArmy]

03:06 PM on 04/25/2011

Pretty strong statement by JP Morgan, now if the whitehouse could make the same statement to America we would be in business!
“We are sorry and regret the mistakes our firm made on mortgages for members of the military,” Frank Bisignano, a JPMorgan official appointed to oversee the company’s home- lending unit in February, said in an e-mailed statement. “We hold ourselves accountable and responsible for these mistakes.”