Chase Escapes Mortgage Interest Rate Class Action

Law360, New York (August 17, 2012, 3:55 PM EDT) -- A California federal judge on Thursday dismissed as time-barred claims for unfair business practices and fraud brought against JPMorgan Chase Bank NA by homeowners who said they'd been duped into paying higher interest rates on their adjustable-rate mortgages.

U.S. District Judge John A. Kronstadt had granted the plaintiffs — a class of up to 28,000 borrowers — leave to amend their original complaint in January to include a basis for tolling the four-year statute of limitations on their claims. But they failed to plead sufficient facts...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Barbara L. Schramm et al v. JPMorgan Chase Bank, N.A. et al


Case Number

2:09-cv-09442

Court

California Central

Nature of Suit

Banks and Banking

Judge

John A. Kronstadt

Date Filed

December 23, 2009

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.