JPMorgan Apologizes For Overcharging 4,500 Soldiers and Foreclosure on 18 of Them

[Viva_La_Revolution]

Source: abc

Stephanie Mudick is testifying before the House Veterans' Affairs Committee today. It will not be a pleasant experience. Mudick is the head of Consumer Practices at JPMorgan Chase & Co., which broke the law. And not just any law.
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The giant financial institution failed to comply with the Servicemembers Civil Relief Act, which provides active duty soldiers, who purchased a home prior to the start of their active duty, a 6 percent cap on their mortgage interest rate and any other fees while they are on active duty and for a year following their active duty.

Mudick starts her testimony with an apology, according to a written version. "I want to express to the men and women serving our country and to the members of this committee Chase's deepest regret over the mistake we made in applying those protections."

Read more: http://abcnews.go.com/Politics/jpmorgan-apologizes-overcharging-4500-soldiers-forclosing-18/story?id=12873749&utm_source=twitterfeed&utm_medium=twitter

[Angry Dragon]

1. Time to start throwing some of these people in jail

[rurallib]

2. Apologizing? Well then all is OK

Maybe a couple things -
make all those you stole from whole AND
maybe a few days or decades in jail as a reminder to others.

[ThomCat]

9. I am so sick of corporate lawbreakers thinking that

an apology is magic, and makes everything somehow okay again. They suddenly don't have to do anything else. All is forgiven and acceptable after that.

No, it isn't. The people responsible need to go to jail. The illegal actions need to stop, and be corrected as much as possible to put things back into good repair at Their Own Expense.

That would be a real apology.

[aquart]

3. Is she saying what JP Morgan is doing to right the wrong?

How is that criminal corporation going about making these servicemembers whole? I want detailed chapter and verse.

What I don't want is worthless words.

Is JP Morgan returning the foreclosed homes? What is JP Morgan DOING?

[beac]

6. Likely feeling really, really sorry...

as they spend their enormous bonuses on a fabulous vacations-- their jumbo margaritas rimmed with their own salty tears. :eyes:

[DJ13]

4. It was (probably) far more than 18 foreclosed on

CNN ran a story of one family not counted in Chase's number.

[DCKit]

5. "We're sorry... that we got caught. Again." nt

[florida08]

7. mistake??

on the contrary.

Chase failed to credit them for the payments and then launched a determined collection agency campaigns. The calls came three times a day, some after midnight and at 4:00 a.m.

Sue the hell out of them

[Frisbee]

8. So caught now equals mistake? n/t

[indypaul]

10. Anyone ever heard of punitive damages? n/t