Chase Auto Agrees to Reimburse Customers $25M

JP Morgan Chase

SubPrime News - June 15, 2011

JP Mor­gan Chase & Co. has set­tled some chal­lenges raised by the Office of the Comp­trol­ler of the Cur­ren­cy over its auto finance cred­it tac­tics and cred­it tac­tics at two oth­er busi­ness lines. In work­ing with the OCC, Chase agreed to a penal­ty of $2 mil­lion and also took action to reim­burse cus­tomers almost $25 mil­lion.