Boycott JP Morgan Chase Banks

In 2007, the Chairman and CEO of JP Morgan Chase Banks, James Dimon, received $25 million in salary and benefits. When the United States government was giving bail-out money to banks and other giant corporations, JP Morgan Chase received $25 billion dollars.

The other day, a friend wrote me a check for $100 on his Chase Bank account. When I went to his bank to cash the check, they wanted to charge me a $6.00 cashing fee because we do not have an account at Chase. I thought to myself, “Don’t they already have enough money?” I said, “No thank, you” and walked out of the bank lobby with the check in my hand.

Now, if all of the above is not enough to make me wonder about what is going on in our big-business world, and with Chase, in particular, ABC News had a disturbing report about JP Morgan Chase and its financial practices on their evening broadcast last night (2.9.11).

It was reported that Chase Bank has been violating federal banking laws that prevent banking institutions from taking advantage of United States military personnel when they are serving our country – which includes the Chase enterprise – in dangerous places, or any place for that matter. These violations included exceeding  a 6 percent cap on the mortgage interest rates of active duty service men and women and foreclosing on homes while many service  personnel were and are serving in Iraq and Afghanistan.

While JP Morgan Chase has issued a public apology for such unexcusable conduct, this is a simply a case of their “hand getting caught in the cookie jar.”

I would encourage you to read and view the ABC report  here. And, if you bank at Chase Banks or have one of their credit cards, let me strongly encourage you to change banks and get another credit card to express your contempt over their banking practices.  And,when you do, be sure and tell them why you are doing it.

Explore posts in the same categories: Economics, Social-Economic Justice, Uncategorized

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