Tuesday, May 01, 2012

Class Action Claims Chase Bank Cheats on Prepaid Mortgage Principal

SAN FRANCISCO (CN) - A homebuyer claims in a federal class action that JPMorgan Chase Bank, "unlike other banks, holds advance principal payments in an undisclosed suspense account and purposefully delays crediting of such payments in order to maximize interest accrual on money that, under the terms of the loans, it has not earned."
Read the complaint. Click here.

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