State of California Sues Chase Bank over CC lawsuits

[ICANHASMUNY?]

http://dealbook.nytimes.com/2013/05/09/california-sues-jpmorgan-chase-over-credit-card-cases/?hp

[ICANHASMUNY?]

one can only hope midland and the rest of the JDB's are next in line.....

[jmedee]

Yeah, Chase did that crap to me. I had to file BK

[SunnySideUp32]

Oh please California go after Midland Funding and LVNV Funding.

[LoneTexan]

I second for the states attorney general going after Midland Funding and LVNV Funding. For me, they have gotten by with deception and caused me grief for years. I for one will do my small part. We have to stand against being victimized and I'm sure that California's state AG did not take action over one complaint. We all must do our part. Let our AG's know about every violation we have had to live with.

[cashnocredit]

I second for the states attorney general going after Midland Funding and LVNV Funding. For me, they have gotten by with deception and caused me grief for years. I for one will do my small part. We have to stand against being victimized and I'm sure that California's state AG did not take action over one complaint. We all must do our part. Let our AG's know about every violation we have had to live with.

They are going after deep pockets. California needs money. Chase has money. Chase screwed the pooch with sloppy records and suit shortcuts as the OC. What Chase should have done was keep good records and procedures like Amex and Discover and make sure their court processes were correct.

[SomeGuyInCA]

I'm glad they are being held to task. What Chase and other financial institutions allegedly did was massively fraudulent, and in some cases criminal. Not only was there poor record keeping, the companies involved also produced fraudulent and forged affidavits, assignments, and other legal instruments on a massive scale. There was massive employment of notary fraud. And, if the allegations are to be believed, much of it happened with the knowledge and complicity of executives within these organizations. All of It resulted, in some cases, in the companies involved foreclosing on people who had completely paid off notes, or foreclosing on the wrong homes for owners that were not behind on their mortgage. In some cases, foreclosures were even instituted for properties which hadn't ever even been held through a loan with the foreclosing institution.

 

I hope CA sues some more of them. As a matter of fact, I hope they start filing criminal charges against those executives who were directly involved and had personal knowledge of the misdeeds, e.g. the HSBC money laundering fracas. It chaps my hindquarters to have limitations on the number of times I can trade a stock in 5 days because of money laundering fears, while at the same time we have institutions like HSBC laundering drug money on a massive scale all the while.

 

At this time in our country, the pervasive sense among the too big to fail's is that as enterprises, they are largely immune to the consequences of malfeasance, excepting the payment of monetary damages and fines. Again witness the outright criminal misdeeds at HSBC, which went without any criminal proceedings at all.

 

Until the cost of doing business in ways that contravene law and morality grows large enough, these institutions will continue these practices. So I hope that CA brings more of them to the table.

[hrguy]

Nice summary, I agree.

[cashnocredit]

I'm glad they are being held to task. What Chase and other financial institutions allegedly did was massively fraudulent, and in some cases criminal. Not only was there poor record keeping, the companies involved also produced fraudulent and forged affidavits, assignments, and other legal instruments on a massive scale. There was massive employment of notary fraud. And, if the allegations are to be believed, much of it happened with the knowledge and complicity of executives within these organizations. All of It resulted, in some cases, in the companies involved foreclosing on people who had completely paid off notes, or foreclosing on the wrong homes for owners that were not behind on their mortgage. In some cases, foreclosures were even instituted for properties which hadn't ever even been held through a loan with the foreclosing institution.

 

I hope CA sues some more of them. As a matter of fact, I hope they start filing criminal charges against those executives who were directly involved and had personal knowledge of the misdeeds, e.g. the HSBC money laundering fracas. It chaps my hindquarters to have limitations on the number of times I can trade a stock in 5 days because of money laundering fears, while at the same time we have institutions like HSBC laundering drug money on a massive scale all the while.

 

At this time in our country, the pervasive sense among the too big to fail's is that as enterprises, they are largely immune to the consequences of malfeasance, excepting the payment of monetary damages and fines. Again witness the outright criminal misdeeds at HSBC, which went without any criminal proceedings at all.

 

Until the cost of doing business in ways that contravene law and morality grows large enough, these institutions will continue these practices. So I hope that CA brings more of them to the table.

It would be much better if CA's AG took Chase to criminal court. Civil court doesn't cut it and makes me think CA is more interested in grabbing money from Chase than getting Chase and others, especially the smaller JDBs to stop their disgusting practices. Criminal prosecutions would put the fear of God into employees and officers that engage in these practices as individuals could be held accountable and they wouldn't be protected by insurance and corporate indemnification which always protects peeps in these civil cases.

[hrguy]

 

I'm glad they are being held to task. What Chase and other financial institutions allegedly did was massively fraudulent, and in some cases criminal. Not only was there poor record keeping, the companies involved also produced fraudulent and forged affidavits, assignments, and other legal instruments on a massive scale. There was massive employment of notary fraud. And, if the allegations are to be believed, much of it happened with the knowledge and complicity of executives within these organizations. All of It resulted, in some cases, in the companies involved foreclosing on people who had completely paid off notes, or foreclosing on the wrong homes for owners that were not behind on their mortgage. In some cases, foreclosures were even instituted for properties which hadn't ever even been held through a loan with the foreclosing institution.

 

I hope CA sues some more of them. As a matter of fact, I hope they start filing criminal charges against those executives who were directly involved and had personal knowledge of the misdeeds, e.g. the HSBC money laundering fracas. It chaps my hindquarters to have limitations on the number of times I can trade a stock in 5 days because of money laundering fears, while at the same time we have institutions like HSBC laundering drug money on a massive scale all the while.

 

At this time in our country, the pervasive sense among the too big to fail's is that as enterprises, they are largely immune to the consequences of malfeasance, excepting the payment of monetary damages and fines. Again witness the outright criminal misdeeds at HSBC, which went without any criminal proceedings at all.

 

Until the cost of doing business in ways that contravene law and morality grows large enough, these institutions will continue these practices. So I hope that CA brings more of them to the table.

It would be much better if CA's AG took Chase to criminal court. Civil court doesn't cut it and makes me think CA is more interested in grabbing money from Chase than getting Chase and others, especially the smaller JDBs to stop their disgusting practices. Criminal prosecutions would put the fear of God into employees and officers that engage in these practices as individuals could be held accountable and they wouldn't be protected by insurance and corporate indemnification which always protects peeps in these civil cases.

That is a good point also. I do know that Chase is feeling the pinch, here in DE where they are headquartered, they are laying off and shutting down centers left and right.

[ICANHASMUNY?]

 

I'm glad they are being held to task. What Chase and other financial institutions allegedly did was massively fraudulent, and in some cases criminal. Not only was there poor record keeping, the companies involved also produced fraudulent and forged affidavits, assignments, and other legal instruments on a massive scale. There was massive employment of notary fraud. And, if the allegations are to be believed, much of it happened with the knowledge and complicity of executives within these organizations. All of It resulted, in some cases, in the companies involved foreclosing on people who had completely paid off notes, or foreclosing on the wrong homes for owners that were not behind on their mortgage. In some cases, foreclosures were even instituted for properties which hadn't ever even been held through a loan with the foreclosing institution.

 

I hope CA sues some more of them. As a matter of fact, I hope they start filing criminal charges against those executives who were directly involved and had personal knowledge of the misdeeds, e.g. the HSBC money laundering fracas. It chaps my hindquarters to have limitations on the number of times I can trade a stock in 5 days because of money laundering fears, while at the same time we have institutions like HSBC laundering drug money on a massive scale all the while.

 

At this time in our country, the pervasive sense among the too big to fail's is that as enterprises, they are largely immune to the consequences of malfeasance, excepting the payment of monetary damages and fines. Again witness the outright criminal misdeeds at HSBC, which went without any criminal proceedings at all.

 

Until the cost of doing business in ways that contravene law and morality grows large enough, these institutions will continue these practices. So I hope that CA brings more of them to the table.

It would be much better if CA's AG took Chase to criminal court. Civil court doesn't cut it and makes me think CA is more interested in grabbing money from Chase than getting Chase and others, especially the smaller JDBs to stop their disgusting practices. Criminal prosecutions would put the fear of God into employees and officers that engage in these practices as individuals could be held accountable and they wouldn't be protected by insurance and corporate indemnification which always protects peeps in these civil cases.

same old , same old;'

 

if you or I did this as a private citizen, we'd be thrown in jail - big business gets off with a handslap