JPMorgan Chase Beats Home Equity Plan Suit

Law360, Washington (August 22, 2012, 2:04 PM EDT) -- An Alabama federal judge tossed a putative class action against JPMorgan Chase Bank NA on Tuesday that alleged the bank unlawfully changed the terms of its home equity line of credit plans, noting that the bank's term interpretations were consistent with the contracts.

Plaintiff Marion Dillman sued the bank in February 2011 saying it unilaterally modified the way it credited HELOC payments in order to prolong the debt and increase interest payments, which violated the Truth in Lending Act. Dillman's HELOC account was originally with Washington...
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