23 April 2011

Bankers Bane

I mean a bane to us. Here is the latest from those wonderful folks who helped bring on the greatest recession in personal memory.

J.P. Morgan Chase said Friday it will pay $27 million to settle a class-action lawsuit that accused the bank of overcharging members of the military for their mortgages and prompted a federal investigation, a congressional hearing as well as public outrage.

In the suit, Marine Corps Capt. Jonathon Rowles charged that the bank refused to lower the interest rate on his mortgage, as required under a federal law, after he was activated for duty. When Rowles refused to pay the higher rate, the bank called his home up to three times a day and threatened to foreclose, according to the suit, which was filed in July.

All of which is against Federal law. Chase probably thought they were jsut helping the war effort I suppose.

bonuses all around, if not a governorship somewhere

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