Posted in Uncategorized

JPMorgan Chase: Hold the phone on those DOJ robo-signing charges

Justice League

JPMorgan Chase (JPM) is pushing back at the U.S. Department of Justice’s claims that it admitted to misfiling more than 50,000 payment change notices in bankruptcy courts that were “improperly signed, under penalty of perjury, by persons who had not reviewed the accuracy of the notices.”

The DOJ announced earlier Tuesday that it reached a $50 million settlement agreement with Chase, and that Chase admitted that more than 25,000 of the 50,000 payment change notices were signed in the names of former employees or of employees who had nothing to do with reviewing the accuracy of the filings.

But, according to Chase Vice President and Head of External Communications Jason Lobo, Chase made no such admissions, despite agreeing to the settlement.

Lobo said the settlement agreement contained no admission of liability, as is often the case in settlements between the DOJ, other federal agencies and financial institutions.
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