In the Center for Responsible Lending’s study on abuse by credit card companies, one example is of Chase claiming a payment is late by one day because the due date was on a Sunday and the payment wasn’t posted until the following Monday.
Fees & charges | admin December 12, 2009 | 
Comments (0)
As reported by the Puget Sound Business Journal, the governments reluctance (read, refusal) to release internal communications regarding the seizure of WaMu is lending more credence to the theory that WaMu should not have been seized and sold to JP Morgan Chase.
Chase has apparently slipped a little change into September checking account statements for former WaMu customers: In addition to what the out-of-network ATM bank charges you, Chase now charges you $2 for using an out of network ATM. What?
The madness continues, as evidenced by this guys frustrating experience trying to get an expiring CD cashed out.
Customer service, Ineptitude | admin December 9, 2009 | Comments (0)
From the not sure if this is true department, this anti-Chase rant claims that the BBB evaluated Chase’s home mortgage centers and gave them an F.
There is growing evidence that WaMu was improperly seized and sold to JP Morgan Chase, that it had ample liquidity and was adequately capitalized, both measures exceeding regulatory thresholds. (article)
WaMu failure | admin December 8, 2009 | Comments (0)
Chase reported statistics today on its mortgage modifications. Truly interesting is why Chase is so much more successful at permanently modifying mortgages under its own program than under the government programs. Given the reams of reports from borrowers who insist that Chase keeps losing their paperwork and making them start over, Chase doesn’t seem motivated to make the government sponsored mortgage modifications permanent. One thing is clear, the statistics they reported surely indicate something fishy is going on.
More on Chase’s loan modification strategy: tell the borrower they are getting approved and then deny them at the last minute. (story)
Loan modification | admin December 7, 2009 | Comments (0)
