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Scandals Cost JP Morgan 1 Billion Dollars In Fines

Thursday, September 19, 2013 - 8:36 PM
http://www.cnbc.com/id/101049048?__source=xfinity|mod&par=xfinity
4
Ally6770Ally6770909 posts since
Jan 16, 2010
Rep Points: 2,643
1. Thursday, September 19, 2013 - 9:34 PM
Can someone please let me know what these Chase scandals are?  I can't seem to bring up the info by the provided link.  Thanks.
2
paoli2paoli21,367 posts since
Aug 10, 2011
Rep Points: 5,992
2. Thursday, September 19, 2013 - 9:40 PM
Bad luck for Chase and ... serve them right:D

JPMorgan ordered to refund $309 million over "unfair" credit card billing - Sep. 19, 2013

Also click the $920M in fines link for information.
2
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,426
3. Thursday, September 19, 2013 - 9:54 PM
My goodness, the People's Bank has really got it's butt in a deep crack!   I hope this doesn't have a bad affect on CDs and IRAs we have with them.  I was hoping my stuff would mature before the dodo hit the fan but looks like the fan got turned on ahead of time.    I guess I should start looking for another bank for my regular checking just incase they start closing banks.    They were so smug I guess they really thought they could not be called to task for what they were doing.  What a mess! 
2
paoli2paoli21,367 posts since
Aug 10, 2011
Rep Points: 5,992
4. Sunday, September 22, 2013 - 9:13 PM
Sadly, sounds as if this is only going to worsen:

   "Industry trade magazine American Banker reports that American Express,
    Wells Fargo and Citigroup all continue to sell add-ons to credit card
    customers. American Express is selling a credit monitoring product for
    around $15 a month, even though the company ran afoul of the CFPB last
    year over its marketing practices. Since the CFPB’s complaints so far
    have focused on how the products were marketed, rather than whether or
    not the services actually benefitted customers, these banks seem willing
    to gamble that changing how they pitch these products will keep them out
    of trouble.

Detail at: Chase’s $309 Million Refund to Customers May Not Change Much.
1
cumuluscumulus329 posts since
Jan 16, 2010
Rep Points: 1,553
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