A class action lawsuit has been settled against Chase over accusations that they violated the Service members Civil Relief Act when they failed to provide protection to active duty members of the military while they were away defending our country. The service members mortgage loans, home equity loans, and lines of credit were not properly protected according to the Chase SCRA Class Action Lawsuit Settlement while they were on active duty and immediately following active duty. The lawsuit is in the jurisdiction of the United States District Court for the District of South Carolina.
The lawsuit is entitled Rowles v. Chase Home Finance, LLC and consist of tow settlement funds. Fund I provides a $$20,400,000 while fund II provides a $15,000,000 settlement. Class members of Fund I will automatically receive a payment and do not have to file a claim form. Class members of fund II are required to file a claim form online or by mail no later than February 13, 2012. The Fund I settlement will come in the form of a $100 payment or an estimated 6.3 times the Original Estimated Refund, whichever is greater. The settlement amount for class member of Fund II has yet to be determined by the courts. Any questions or concerns about the lawsuit can be directed to the Settlement Administrator by mail at: Rowles SCRA Settlement, c/o The Garden City Group, Inc., P.O. Box 9737, Dublin, OH 43017-5637.
