Chase Says Borrowers Can't Get Damages In Loan Rate Suit

Law360, Los Angeles (September 16, 2013, 4:54 PM EDT) -- JPMorgan Chase Bank NA on Monday urged a California federal judge to toss the remaining claim in a class action alleging it duped homeowners into paying higher interest rates on their mortgages, saying the plaintiffs aren't entitled to restitution under California's Unfair Competition Law.

In a motion for summary judgment, Chase argues that restitution, the UCL's only monetary remedy, is not available to a class of up to 28,000 borrowers because named plaintiffs Barbara Schramm and Steven Weinstein have failed to present any evidence that they...
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Case Information

Case Title

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

Case Number



California Central

Nature of Suit

Banks and Banking


John A. Kronstadt

Date Filed

December 23, 2009

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