JP Morgan Settles Whistleblower Lawsuit for $45 Million


JPMorgan Chase & Co agreed to pay $45 million to settle a  whistleblower lawsuit  that alleged it charged hidden fees to veterans who were refinancing their mortgages.

The  consumer fraud lawsuit  was filed in 2006 in Georgia by two mortgage brokers. They seek compensation on behalf of the U.S. government from eight mortgage companies and banks.

According to  Reuters , the settlement was “part of the national mortgage settlement over foreclosures abuses reached with JPMorgan and four other lenders last month.” The bank also settled four other  whistleblower lawsuits  for $182 million.

Other banks with pending litigation over similar claims include Wells Fargo & Co, Bank of America Corp., and Citigroup Inc.

If you were wronged by  consumer fraud , contact Sokolove Law for a free legal consultation and to find out if a  consumer fraud lawyer  may be able to help you.

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