Banking Misconduct Blog


JP Morgan Chase and $4 Billion Punitive Damage Award

Banks are seemingly all-powerful, and yet we have repeatedly been able to hold them accountable for their unethical behavior. When banks that gamble with the property and well-being of Americans face true justice, it is always a time for honest citizens to celebrate. That is the case of JPMorgan,...

Ocwen’s Many Evils - Systematic Abuse of Struggling Homeowners

Last April, the Consumer Financial Protection Bureau announced a lawsuit against Ocwen and its subsidiaries for “failing borrowers at every stage of the mortgage servicing process.” The CFPB’s statement claimed that “Ocwen’s years of widespread errors, shortcuts, and...

Independence Day, Bank of America, and Financial Tyranny (HAMP Post)

Topics:
-Bank of America Accused of Stealing Homes -Fighting Back Against Banks -The Truth about HAMP Modifications  Today is July 4th and in thousands of communities, people will celebrate our independence with fireworks tonight. Independence from tyranny and a privileged ruling...

Judge Accuses Bank of America of "Battle-Fatigued Demoralization"

A federal judge in Sacramento, California has given Bank of America a lesson in corporate responsibility. Bankruptcy Judge Christopher Klein sanctioned America's "Too Big to Care" banking giant up to $46 million for causing severe emotional distress to a California couple facing foreclosure. In the...

JP Morgan Hit with Lender Liability Claim in Sale of Good Technology Inc.

Good Technology Inc. is a mobile security provider that is today owned by BlackBerry Limited. How BlackBerry acquired the company and the price they paid is at the heart of the controversy, a controversy involving lender liability and conflict of interest claims against JP Morgan Chase...

Bank’s Bad Faith Means Lien Avoidance

Earlier this year, the federal 7th Circuit Court of Appeals issued a major ruling against lenders. Although the case involved federal bankruptcy law, there is plenty for victims of bad banking behavior to celebrate. To put the case in context, some history is necessary.
Sentinel Management...

Bank of America Atty “Stonewalling”? - Lender Liability Post

The owners of a home taken by Bank of America have accused the bank and its lawyers of “stonewalling” efforts to prosecute the bank for wrongful foreclosure. Catarina and Alejandro Francisco claim that the bank’s lawyer improperly instructed a Bank of America employee to not...

Zions First National to Pay $37.5mm to Settle RICO Suit

A long running battle between consumers and Zions First National Bank came one step closer to resolution this week. The bank and two of its subsidiaries agreed to pay $37.5 million to settle a lawsuit brought under the Racketeer Influenced and Corrupt Organizations Act (RICO). The suit claimed that...

Appeals Court Enforces Modification Deal

We rarely write about residential foreclosure cases. Although we don’t typically handle cases for individual homeowners, we follow them closely. The same deceitful tricks banks use against helpless homeowners often find their way into commercial cases. Banks have deep pockets and know that...

RICO: Powerful Anti-Fraud Tool – EB-5 Class Action

Congress enacted the Racketeer Influenced and Corrupt Organizations Act (RICO) as a response to organized crime and biker gangs. A few decades later and this powerful statute is now mostly used by savvy private litigants seeking redress for a wide variety of fraud claims. This month a group of...