Judge Won’t Toss JPMorgan Post-Closing Fee Suit

Law360, New York (January 29, 2009, 12:00 AM EST) -- A judge has denied JPMorgan Chase & Co.’s motion for summary judgment against a couple who filed a putative class action claiming that the finance company charged illegal post-closing fees on their loan.

Judge Charles Sifton issued an opinion on Wednesday denying Chase’s motion over whether or not it was entitled to charge a post-closing fee to cover “post-closing services” on the plaintiffs' loan application to refinance their Brooklyn, N.Y., apartment.

“A rational jury could find that the fee was not in fact charged ‘for’ services,...
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