JP Morgan settles ‘racist loans’ claims with $55m payment

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JP morgan settles ‘racist loans’ claims with $55m payment. Post By. The settlement includes a $350m payment by JP Morgan to the estate of the company and an undertaking to waive its own claims that Enron owes it about $660m from loans the company took out with the.. JP Morgan Chase has.

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NEW YORK – JPMorgan Chase & Co has agreed to pay US$55 million to settle a U.S. Justice Department lawsuit accusing it of discriminating against minority borrowers by allowing mortgage brokers to charge them more for home loans, a person familiar with the matter said on Wednesday.

JPMorgan chase kicks 54 military families out of their homes-despite a law against doing so. 2. Wells Fargo gives bonuses to loan officers to put. Bank of America proposed a payment of $8.5 billion.

The Department of Justice today announced that JPMorgan Chase (JPMC) will pay 4 million for violating the False Claims Act by knowingly originating and underwriting non-compliant mortgage loans submitted for insurance coverage and guarantees by the Department of Housing and Urban Development’s (hud) federal housing Administration (FHA) and the Department of Veterans Affairs (VA).

The appointment of the Senior Officer is required by Banc One Investment Advisors Corporation’s (subsequently known as JPMorgan Investment Advisors, Inc.) settlement with the New York Attorney General in 2004. JPMorgan Investment Advisors, Inc. transferred its business to J.P. Morgan Investment Management Inc. effective January 1, 2010.

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