banking giant jpmorgan chase admits that it overcharged more than 4,000 active duty military personnel on their home loans, and that it mistakingly foreclosed on 14 homes. mistakingly foreclosed on 14 homes. the action violates rules on the books to protect those who put their lives on the line everyday to protect us. cnn s jason carroll joins us from new york on how it happened and what this bank is doing to try to correct the mistake. jason? well, ali, as you can imagine, so many of these servicemen and women are already under so much pressure in terms of the deployment, and now imagine the pressure when you think that someone is trying to foreclose on your home, and this is exactly what happened. the banks had a mitted to the costly mistake and tells cnn that it is mailing refunds. and ali, the person who is
executing an arrest warrant. the department called it a high-profile warrant that had the officers working with the u.s. marshall s fugitive task force. one suspected gunman at the residence was shot and killed by miami-dade police officers. banking giant jpmorgan chase is admitting that it overcharged more than 4,000 active-duty military personnel on their home loans and mistakingly foreclosed on 14 homes. the action violates rules on the books to protect military personnel, and jpmorgan said it is mailing out $2 million in refund, and it so far has resolved 13 of the 14 accidental foreclosures. congressman cohen stands by the nazi comparison and find out exactly what he told cnn s john king in the political update after this. that first job launched my career. since i ve been with the company, i ve been promoted ten times over the span of 11 years. today, i m a divisional learning and development manager. we can actually help people develop in their own careers.
largely responsible for all of this coming to light is her name is julia rolls. she called her family s experience with chase a four-year nightmare. she says it began in 2006, when her and her husband went on active duty. they notified chase, because according to federal law, the bank should have adjusted the mortgage rate and the interest rate should be capped for 6% for those on active duty, but chase continued to charge the family up to 9% saying that they owed more than $10,000, and the couple got an attorney and discovered that the bank may have overcharged 4,000 military families and ali, foreclosed on the homes of 14 service members. every time we talked to chase, they were telling us that we were in the wrong. it is amazing to me that we found out how big this is. this is our number one battle right now, and if not for ourselves, but for the other
lawsuit. very good response from chase that they made a mistake and sorry and any indication how these mistakes happen? i get that things happen on things that happen on bank accounts, but i don t get accidental foreclosures, but have they offered any explanation? exactly. when you think of foreclosing on the homes of 14 people, but not only that but overcharging 4,000 members of the military, and the big questions there are so far chase has not come up with an explanation of how this happened. was it a systemic problem? a computer error? human error? still trying to sort it out. perhaps it will come out if this class action lawsuit goes forward. ali? it is in the bank s best interest not to wait for the clas class action but come clean. thank you, jason carroll, in new york. good companies to work with and many of them in america, and they have thousands of job openings and wait until you find out the perks they offer on the other side of the break, the
families that i am speaking forrer them right now, and i m hoping that they are watching right now and listening, and can understand and answer this call that chase needs to be held accountable for their actions. well, chase has admitted to making the error saying that we have made mistakes here, and we are fixing them. there is no finer group of people than the men and women in the armed services who fight to protect our country everyday, and while any customer mistake is regrettable, we feel particularly badly about the mistalk mi mistakes we made here. the bank says it is mailing $2 million in refunds to service members orn s overcharged and rd 13 of the 14 accidental foreclosures. the rowles feel they are still owed money and they are representing other military fam i wills in a class action