Why Everybody Hates Chase Bank, virtually every division of Chase Bank has a class action lawsuit against it.

Why Everybody Hates Chase Bank, virtually every division of Chase Bank has a class action lawsuit against it.

A class action lawsuit is a much bigger deal than individuals suing Chase Bank. Class Action Lawsuits usually reqire a level of alleged abuse that may have become so unflinchingly arrogant as to leave consumers no recourse but to try and band together against Chase Bank and then find a law firm willing to take their case.

Here is a list of just some of the class action lawsuits filed against Chase bank in just the past few years. If you are the media reading this article, PLEASE mention this blog by name in your report as it represents vast hours of unpaid research on my part. 

Home Owners have their home equity lines suddenly frozen at suspiciously low levels. This instantly puts the homeowners at risk of losing their home if they were counting on that equity line to see them through until their next job. It also puts Chase Bank in the position of enriching their portfolio by reacquiring a home that STILL HAS HOME EQUITY VALUE and has resulted in a class action lawsuit against Chase Bank.

The best of the best credit card customers with excellent payment histories were promised low interest rates ranging from 0.9% to 7.9% for THE LIFE OF THEIR CHASE BANK CREDIT CARD LOAN. These stellar customers were suddenly subjected to a MONTHLY MINIMUM PAYMENT INCREASE from 400 dollars to 1,000 dollars, an additional 150% above and beyond what they were already paying every month.  

Many consumers consolidated their credit card debt into these life of the loan, low rate Chase Bank credit card offers and could not afford the 150% increase in the monthly minimum payment above and beyond what the 2% monthly minimum they were already paying.

This single act by Chase Bank might have put over a MILLION PEOPLE IN DANGER of losing their low interest rate credit card and could have resulted in the Chase Bank customer being converted to a high risk category 29.9% interest rate charge and the loss of their stellar credit rating.


Yet Chase Bank continued to abuse the opt out right of their customers, resulting in another class action lawsuit against Chase Bank.

Chase Bank forecloses on military personnel while the personnel were serving their country in Afghanistan and Iraq! 


Although MSNBC "broke" this story on January 17, 2011, my sister blog, parallel foreclosure,  actually carried a warning article about this possibility on January 02, 2011.

Chase Bank charges excessive, illegal credit card interest rates and mortgage interest rates on military personnel and is ordered to put all the sand back hourglass they unwound.


Chase Bank gave huge bonus incentives whenever a sub prime mortgage was sold to a minority, even if the minority qualified for a regular mortgage!

Chase Bank misleads kids with tales of 10% interest dividends on savings accounts even as Chase Bank was actually paying out only 0.1 percent to their parent's accounts.


Chase Bank forces homeowners to carry excessive and expensive flood insurance, resulting in a class action lawsuit against Chase Bank.

Chase Bank sued for delaying the appropriation of payments on mortgages to maximize profits via their own interest rate gains and possible penalties and fees.

Chase Bank deducts employees pay if they make a mistake that costs the company money if the chase bank representative refunds money to a customer caught in a tough situation.

Chase Bank seizes funds from a non related account to pay off a repossessed car loan even when the person having their funds seized had nothing to do with the car lease or repo.

Chase Bank tacks on overdraft fees for all transactions made on a weekend even if it was only the final transaction that led to an overdraft situation.


Chase Bank routinely altered or hid credit information to maximize a customers alleged debt.

When checks came in on a specific day that caused an overdraft, the highest amount check was paid first, resulting in many more overdraft charges, this class action lawsuit against Chase Bank was recently settled.  Although these two examples should have been kept separate, weekend overdrafts versus Monday through Friday, the two separate causes appear to have been combined, probably saving Chase Bank a huge wad of settlement money.

Software mismatches between Chase Bank and WaMU caused accounts to accrue late fees through no fault of the customer.

Chase Bank is AWARDED WAMU assets for less than 2 cents on the dollar as WAMU stockholders lose ALL of their stock value! Learn more about the WAMU story and how JP Morgan Chase made a huge profit in a behind the scenes deal.

Chase Bank won't honor HAMP applications even when the homeowner met all payment requirements during their mod trial.

Chase bank practices Parallel Foreclosure in which they foreclose on a homeowner after they advised that homeowner to default on their mortgage so their HAMP application could be processed! 


Parallel Foreclosure appears to be a clear violation of two constitutional tenets and in another time and place Parallel Foreclosure could be considered an impeachable act since president Obama claims the practice of parallel foreclosure is legal and he has sanctioned it, when it is actually a violation of the constitution.

Jamie Dimon is Barack Obama's favorite wall street banker!

Watch Chase Bank Protest Videos at Robots Against Chase.

Chase bank is probably a bank where if you make all of your payments well before the due date, they probably do a fine job with your accounts. However, when a situation arises, it appears that  Chase Bank has little tolerance for actually helping solve a situation, perhaps this environment of punishment has been brought on by employee fear that they will be penalized for trying to solve a situation "humanely".

I've been blogging about Chase Bank atrocities for the past three years.

Please Download the Chase Bank Protest Protest Flyer for FREE, and then all that needs to be done is just give a few copies out, it is really that simple.

Chase Bank's financial terrorism against main street still not enough to avert a 2012 first quarter 2 billion dollar loss.

Over the past few years, I have blogged about various Chase Bank atrocities. It's actually painful to recall them all and recount them here simply because I know those actions have hurt millions of Chase Bank customers. All this while Barack Obama, who admires Jamie Dimon and has publicly said so, did very little. 


Did you know the credit card reform bill act of 2009 was postponed a year by Nancy Pelosi so Barack Obama could take credit for it, and then the bill was watered down!


Did you know a key provision of the credit card reform bill act, the right to opt out of a change in terms, was lobbied against by Chase Bank and subsequently taken out of the credit card reform bill act!

I would call some of Chase Bank's actions during Jamie Dimon's reign financial terrorism that resulted in good, hard working, middle class americans unfairly losing their homes.

However, it appears the acts of financial terrorism that Chase Bank has successfully completed against middle america were not enough to avoid financial losses elsewhere, resulting in a recent admission by Jamie Dimon that Chase Bank has lost 2 billion dollars in the first quarter of 2012.

However, one of the major networks news programs happily reported that Chase Bank owns 2 trillion dollars worth of properties, therefore while the 2 billion dollars was a big deal, it was actually a very small percentage of their overall wealth. And yet, Chase Bank has just been hit with ANOTHER class action lawsuit over how their alleged delay in how they apportion home mortgage payments results in more penalties against the backbone of our country.

In 2009, when Chase Bank ANNIHILATED their BEST, MOST HONEST, LONGEST TENURED credit card customers by forcing them to make 5% monthly minimum payments, (an additional 150% monthly payment above and beyond the 2% minimum they were already paying) on low interest rate, life of the credit card loan, they probably brought in additional revenue of anywhere from 100 million to a couple of billion dollars PER MONTH!

On top of that, those who suddenly defaulted on their Chase Bank  credit card payment because they could not afford a 150% monthly minimum payment increase above and beyond the 2% monthly minimum payment they were already making, would have then had their 2.9% interest rate raised to 29%. 

Once that ultra high 5% monthly minimum payment was defaulted upon by the previously relatively perfect rated credit rating customer, (only those with excellent payment histories got the very low interest rate for the life of the credit card loan deal) that customer was suddenly facing a lawsuit from Chase Bank. 


An imminent court judgement against them, and possibly the loss of their home, especially if they were on a fixed budget and suddenly faced with a damaged credit history resulting in other credit cards raising their interest rates to the formerly excellent credit card customer.

Lets also not forget the unfair freezing of home equity lines that could also then result in the theft of the home by Chase Bank, along with the home equity that Chase Bank suddenly denied to the customer. Here is the Home Equity Line Class Action Lawsuit against Chase Bank.

What about the monthly commission Chase Bank gets on each and every person who receives a government payout each month?


Chase also forced homeowners to carry excessive amounts of flood insurance, resulting in another class action lawsuit.

So the question I have is, if Chase Bank has been financially terrorizing some of their main street customers in a myriad of ways and profiting handsomely from those acts of financial terrorism, how could they still be losing money?

Please Download the Chase Bank Protest Protest Flyer for FREE, and then all that needs to be done is just give a few copies out, it is really that simple.