In a regulatory filing filed with the U.S. Securities and Exchange Commission and released on Monday, August 4, J.P. Morgan Chase & Co. announced that it has $4.6 billion in legal reserves. Believe it or not, this massive...more
The city of Miami recently sued JPMorgan Chase & Co. in Florida federal court alleging that JPMorgan violated the Federal Fair Housing Act (“FHA”) by engaging in a “continuing pattern” of discriminatory mortgage lending...more
On Friday, May 30, 2014, asserting that “[i]t is axiomatic that banks should not make discriminatory loans”, the City of Los Angeles filed a two-count complaint against JPMorgan Chase & Co. in Federal Court for the Central...more
6/4/2014
/ Banks ,
City of Los Angeles ,
Discrimination ,
Fair Housing Act (FHA) ,
Fair Lending ,
JPMorgan Chase ,
Mortgages ,
Popular ,
Predatory Lending ,
Property Tax ,
Restitution
Adding to JPMorgan Chase’s widely publicized recent legal woes, shareholder Bradley P. Miller filed a derivative suit against the bank and its directors in California federal court on January 23, 2014, as a result of the $20...more
2/10/2014
/ Banking Sector ,
Bernie Madoff ,
Derivative Suit ,
Federal Reserve ,
GSE ,
JPMorgan Chase ,
London Whale ,
Mortgage-Backed Securities ,
Risk Assessment ,
Securities Fraud ,
Subprime Mortgages ,
Unjust Enrichment
We recently commented on JPMorgan Chase’s blockbuster agreement to resolve a class-action lawsuit for $300 million brought by more than a million homeowners nationwide. The dispute centered on allegations that Chase profited...more
JPMorgan Chase and Assurant Inc. recently agreed to settle a class-action lawsuit initiated in June 2012 for $300 million brought by a class of 1.3 million homeowners nationwide who claimed that they were overcharged for...more
The civil division of the Justice Department has preliminarily concluded that JPMorgan broke federal laws in connection with its sale from 2005 to 2007 of subprime and Alt-A residential mortgage securities, and the bank is...more