American Banker has released an excellent and disturbing exposé of J.P. Morgan Chase’s credit card services division, relying on multiple current and former Chase employees. Late in 2009, Chase’s credit card services division sold a parcel of nearly $200 million worth of credit card judgments to a debt collector at a discount. This common practice […]
Posts Tagged ‘Chase’
JP Morgan Chase ugly secrets revealed
March 18, 2012A small victory against big banks
October 31, 2011“Score one for a customer rebellion!” — that’s how Diane Sawyer announced on ABC Nightly News Friday night that big banks are backing off debit card fees after 300,000 people signed Molly Katchpole’s Change.org petition against Bank of America’s $5 debit card fee. Not only is Bank of America revising its $5 debit card fee, […]
Federal subsidy renovates luxury hotel in Chicago
February 15, 2011The landmark Blackstone Hotel in downtown Chicago, which has hosted 12 U.S. presidents, opened in 2008 after a two-year, $116 million renovation. Inside the Beaux Arts structure, buffed marble staircases greet guests spending up to $699 a night for rooms with views of Lake Michigan. What’s surprising isn’t the opulent makeover: It’s how the project […]
Wall Street and its 10 most ridiculous lies of 2010
December 31, 20101.”Honest, we didn’t do it!” Sadly, their blame-shifting strategy worked, bamboozling the media and people across the political spectrum. Crooks? Morons? Take your pick. 2.”The overall costs will be incredibly small in comparison to almost any experience we can look at in the United States or around the world.” Ever since Treasury Secretary Timothy Geithner […]
