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Here is a list of pending class actions against Chase (not just the credit card issue — all kinds of them).

Yesterday evening, I received word from Class Advocate LLC, that they are tracking a list of pending class actions against Chase

While the ChangeInTerms.com site is devoted to fighting abuses against consumers and small businesses by the credit card industry relative to its primary mission, we can’t help but notice that Chase is involved in numerous class action cases and/or investigations across the gamut of its various businesses, all of which seem to be related to some form of legalized loan sharking.

I also asked for, and was granted, permission to promote the link that lists these class action lawsuits and investigations.  It is therefore my great pleasure to point out that not everyone is as quiet as most members of the media, and Chase can at least still be challenged through litigation.



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12 Comments on “Here is a list of pending class actions against Chase (not just the credit card issue — all kinds of them).”

  1. #1 Alessandro Machi
    on Aug 30th, 2009 at 1:59 pm

    I have an article about how much money Chase Bank keeps in reserve for lawsuits on DailyPUMA. Ironically, DailyPUMA is not one of my Chase Bank blogs but sometimes I thrown in some Chase Bank articles.

    http://dailypuma.blogspot.com/2009/07/come-get-it-lawyers-chase-bank-has-26.html

    Basically, Chase Bank keeps 2.6 billion dollars in reserve to fight lawsuits.

  2. #2 steve b
    on Aug 30th, 2009 at 6:36 pm

    They wll need it. The real recession hasnt started yet. The housing market hasnt started to decline. Since unemployment has started, there have been record foreclosures. But just think, those who have been unemployed, will be running out of benefits in the next few months. Crisis one for Chase…Wamu defaults and foreclosures will increase. Due to the stimulus not stimulating anything, unemployment will continue to increase, andthe ball will keep rolling. Crisis number two for Chase…more foreclosures and defaults. Since Chase is squeezing its cardholders, those that have been holding on will default or go bankrupt. Crisis number three for Chase. Since Chase has alienated over 2 million of its customers, their will be no increase in its loans,lines, or credit card sales. As well, due to retail sales dropping, little credit card revenue. Crisis four for Chase.
    Lawsuit will make some headway…crisis five for Chase. The same crew that drove Chase into the ground is at the helm…crisis six for Chase. I would not invest in Chase stock.

  3. #3 Alessandro Machi
    on Aug 31st, 2009 at 7:40 pm

    But part of Chase Bank’s master plan appears to be buying businesses at pennies on the dollar. The starving of local economies by dropped credit lines, using way below market value home appraisals to drop home equity lines to ridiculous levels, increase in interest rates on credit cards, all of these tactics in concert are causing panic among all kinds of businesses who can’t find customers with available cash to buy their goods and services.

    Chase bank is able to use government bailout money to buy up these businesses at such good prices they are able to show overall profits and raise their stock value in the process, even as their credit card division and home mortgage divisions tank!

    Eventually Chase bank may sell off their shares and take the profits, but only after they have sucked middle america back into buying stocks again.

  4. #4 steve
    on Aug 31st, 2009 at 8:43 pm

    Yes, in the short term they look great; assets, cash flow, investments. Its like the animal that kills its prey, it looks fat and healthy for awhile, but then there is no prey left. Look at GM.
    Right now Chase is flush with cash, and great cash flow its sucking from its customers. But the real recession hasnt started. The days of its bailouts are over. In the next few years it has to grow a customer base to generate revenue; there wont be one there. It will take a few years, but I believe a business that forsakes its customers is doomed, no matter how good it is. For Chase to get into the situation where it needed a bailout to begin with, just shows how smart its leadership really is. Its like giving a wealthy spoiled child money…it will disappear pretty quickly.

  5. #5 Alessandro Machi
    on Aug 31st, 2009 at 11:30 pm

    More like an animal chewing on a foot and enjoying it until they realize it is their own foot they are chewing.

    However, Chase bank is now playing “Robbin Hood”. Robbing from it’s customers, which in turn starves local incomes, dries up tax revenue, AND THEN, Chase Bank STORMS IN and SAVES THE DAY WITH A 1.5 BILLION DOLLAR LOAN to CALIFORNIA, or salvaging the transit system in New York or somewhere around there.

    Until the states, celebrities, or politicians stand up to Chase, Chase will be able to game the system by sprinkling the money they steal from you and mean in just the “right way”.

  6. #6 M
    on Sep 1st, 2009 at 7:50 pm

    You should also list past major lawsuits against Chase. It has quite a pedigree. Most infamously – Enron. Have we already forgotten the fallout from that fiasco? I certainly have not. Now Chase is linked to the Madoff debacle.

    This company is a menace.

  7. #7 M
    on Sep 1st, 2009 at 9:28 pm

    I also forgot to mention that Jefferson County, Alabama has a bone to pick with Chase bank. Those pesky derivatives again!

    Chase loves derivatives – like a bad addiction. Unfortunately, the whole country has to suffer the withdrawal symptoms. Not Chase, seemingly – yet.

    Here is the sad story:

    http://www.bloomberg.com/news/marketsmag/mm_0708_story2.html

    http://www.bloomberg.com/apps/news?pid=20601087&sid=aMbZibnvqg8U

    SEC was/is considering charging JP Morgan Chase. Hmm – considering.

    There are many, many more such stories. Unfortunately, the mainstream media is not interested in covering them.

  8. #8 anna
    on Sep 4th, 2009 at 12:49 am

    “This company is a menace”#6
    Both Morgan and Chase were major Nazi collaborators.

  9. #9 The Raker
    on Jan 19th, 2012 at 12:43 am

    WHO WE REALLY HAVE TO THANK IS …………the great……OBAMA. Who helped CHASE AND ALL THESE BIG BANKS squeeze the neck of every American who owned a home!. Thanks OBAMA you are the WORST President the U.S.A. ever had. The next time you want to pay off the people who placed you in the Presidential seat. Please do not USE THE MONEY FROM THE SMALL INSIGNIFICANT PEOPLE….. YOU KNOW the backbone of AMERICA. OBAMA CAN YOU MOVE TO ARAB AND BOW YOUR HEAD TO YOUR MASTERS.
    AND MRS. OBAMA WHILE EVERYONE IS OUT OF A HOME AND HOMELESS ALL YOU CARE ABOUT IS LOOKING GOOD. BOY, WE NEED A GOOD DIET. RIGHT, LIKE WE NEED A HOLE IN THE HEAD. If I do not have a home, what do I care about my weight????>??? For Real, was your favorite book “Alice in Wonderland”

  10. #10 The Raker
    on Jan 19th, 2012 at 12:46 am

    We used to be afraid of Al Capone…. NOW IS THE BANKS…… Please if you buy or save anything do not USE A BANK! If you can not buy it cash do not buy!!!! The bank will steal it from you should you have any emergency or any mishaps or any extra fees they impose. Like the OUTRAGEOUS INSURANCE THEY IMPOSE WHERE THEY GET A KICKBACK!

  11. #11 The Raker
    on Jan 19th, 2012 at 12:49 am

    I USED TO HELP PEOPLE IN FORECLOSURE. YOU DO NOT WANT TO KNOW how many times the BANKS OUTRIGHT REFUSE TO PUT WHAT THEY PROMISED ON PAPER AND how many times they laughed as they said…..WELL WE LIED SO WHAT!!
    i JUST WANT TO KNOW are banks exempt from the LAW!!!!!!!
    america, THE GREAT U.S.A. now all HOMELESS!

  12. #12 The Raker
    on Jan 19th, 2012 at 12:54 am

    I actually read the entire loan doc from CHASE there are so many phrases that spell out COHERSION. That means that the law does not allow certain unfair business practices that encourage predatory lending, among many other great wicked ways to steal the house from under you. YET CHASE gets away with it and so does WELLS FARGO (WHO IS a good one, they should change their name to BULLIES) hOW ABOUT chase THEY SHOULD BE CALLED…… “Catch me if you can, because I can break every law and get away with it..

    What is a Banker, a Thief with a TIE!!!!!!

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