January 17, 2011

Why It's So Easy To Hate A Bank

(MSNBC)- One of the nation’s biggest banks — JP Morgan Chase — admits it has overcharged several thousand military families for their mortgages, including families of troops fighting in Afghanistan. The bank also tells NBC News that it improperly foreclosed on more than a dozen military families.

Where's Jared Loughner when you need him? Give the man a new pair of shoes and a Glock and stick him in Chase's executive headquarters lunch room. Tell him George W. Bush is cooking chili dogs.

The admissions are an outgrowth of a lawsuit filed by Marine Capt. Jonathan Rowles. Rowles is the backseat pilot of an F/A 18 Delta fighter jet and has served the nation as a Marine for five years. He and his wife, Julia, say they’ve been battling Chase almost that long.

The dispute apparently caused the bank to review its handling of all mortgages involving active-duty military personnel. Under a law known as the Servicemembers Civil Relief Act (SCRA), active-duty troops generally get their mortgage interest rates lowered to 6 percent and are protected from foreclosure. Chase now appears to have repeatedly violated that law, which is designed to protect troops and their families from financial stress while they’re in harm’s way.

If Chase Bank has their way, this happy reunion will take place in a homeless shelter.


LL said...

I didn't have a problem with my lender when I deployed to Iraq/Kuwait back when, but others I knew applied for relief under the Soldiers & Sailors Relief Act and the lender told them to stick it.

sig94 said...

LL - then it is long past time to tell these banks the same thing.

Gorges Smythe said...

The Bible tells us that the love of money is the root of all evil. What else do banks have to love?

The_Kid said...

Jamie Dimon is CEO of JP Morgan.
People think Bank executives are 'Conservatives' because they are all filthy stinking rich. (JP Morgan recently announced it had 10 BILLION it was going to shovel out for bonuses) Jamie Dimon voted for Obama and has met with the imbecile..
They're not capitalists. They're 'Crony-capitalists' which in short means 'Good for me and F you and everybody else'.

DeanO said...

Show me the money....and heart ache for those brave military families whose homes were foreclosed. America and her greed!

Anonymous said...

More and more lately I find myseld calling for tar and feathers. This post is no exception.

christian soldier said...

time to change banks---
betraying our BEST is unforgivable---
'swiping' this BTW-

Rhod said...

Banks and Big Business and Government are indistinguishable in their ethics and lust for power. I worked for a bank many years ago, an experience which pushed me to the dark side. Where banks are the issue, I'm still there. Regulate the hell out of them

Anonymous said...

I knew things were going bad when banks took out the pens on chains. Things have gone to Hell since.