americanaspiration

JPMorgan says ‘Sorry’ for breaking the law and Foreclosing on Soldiers

In News on February 10, 2011 at 9:09 am

JP Morgan failed to comply with key provisions of the Service Members Civil Relief Act, including honoring a 6 percent cap on mortgage interest rates and a prohibition of imposing other fees while a service member is on active duty and for one year after they are discharged.

Instead, JP Morgan completely ignored the law, continued with illegal fees, forced American heroes into foreclosure and required them to file lawsuits to defend themselves and enforce the law. The big banks keep getting away with these reprehensible bully tactics and destroy American’s lives in the process.

Ask your Congressman where are the charges, penalties and punishments for these flagrant violations of the law designed to protect homeowners?

Read more:
http://abcnews.go.com/Politics/jpmorgan-testifes-congress-apologizes-foreclosures-hiking-interest-rates-soldiers/story?id=12873749&page=2

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