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I was watching the TODAY Show Wednesday and they had another segment on their breaking news on JP Morgan Chase fleecing homes from active members of the Armed Forces. The segment featured a soldier who is fighting in Iraq and at the same time was arguing with JPMC and getting the runaround. And still she lost her house.
Now they say they'll take care of it. It's sickening and against the law. This above video was the initial report that got the ball rolling and exposed these cowards.
JP Morgan & Chase Co.’s admission that it overcharged thousands of American servicemen has triggered investigations by a congressional committee and a federal prosecutor.
As first reported last week by NBC News, the bank admits mistakenly overcharging 4,000 military families for their mortgages, and improperly foreclosing on 14 of them. The actions — which the bank says it deeply regrets -- appear to violate the Servicemembers Civil Relief Act, a law designed to protect military families from added financial stress while troops are in harm’s way.
Rep. Jeff Miller, R-Fla., chairman of the House Committee on Veterans Affairs, says his committee has begun an investigation. “The Servicemembers Civil Relief Act has been in place for decades and I cannot believe that one of the nation’s largest financial institutions appears to be disregarding the protections offered by that law,” he said. “If the allegations are true, this amounts to widespread abuse of our nation’s heroes and their families.” A hearing is planned in early February.
Legal sources tell NBC News that the U.S. attorney for South Carolina, William N. Nettles, also has begun looking into the matter.,,read on
Here's a little more from KPBS:
The Stars and Stripes reports that Chase flouted the Servicemembers Civil Relief Act, a law that prohibits banks from charging more than 6% mortgage interest when troops are on active duty. The SCRA also makes it a no-no to foreclose on service members while they’re on active duty. Only, Chase ignored this pesky fact, and ended up foreclosing on 14 families. To make it up to everybody:
JPMorgan Chase & Co. is repaying more than $2 million to about 4,000 military families who were overcharged for their mortgages. JPMorgan Chase said those 14 properties have been or will be returned to the owners.
