Chase Faces Class Claims Over Home Equity Plans

Law360, New York (February 25, 2011, 5:18 PM EST) -- JPMorgan Chase Bank NA on Thursday was hit with a putative class action in federal court in Alabama alleging the bank unlawfully changed the terms of its home equity line of credit plans.

The latest in a swell of HELOC litigation, the complaint filed by plaintiff Marion Dillman in the U.S. District Court for the Southern District of Alabama claims the bank unilaterally modified the way it credited the payments in violation of the Truth in Lending Act.

Rather than abide by the terms of the...
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