Illinois AG demands meeting with JPMorgan Chase over robo-signing
Illinois Attorney General Lisa Madigan sent a letter to JPMorgan Chase demanding a meeting to discuss whether or not the lender violated state law when employees signed foreclosure affidavits without a notary or knowledge of the documents. JPMorgan Chase announced a suspension of 56,000 cases because of the robo-signing issue. Madigan also requested a meeting with Ally Financial after it made a similar announcement the week before. Several AGs are requesting information and launching investigations into the Ally issue, something JPMorgan Chase would likely expect. Community groups and consumer law firms, too, are calling for a full-scale investigation into the controversy. Faith and community groups in the PICO National Network even called for a nationwide moratorium until a legal review could be conducted. Madigan said the issue could be spreading on that scale. "With JP Morgan now acknowledging possible abuses in preparing court documents, the impact on homeowners in our state and across the country could be great," Madigan said. "As with Ally Bank, if I determine JP Morgan was recklessly signing off on foreclosure filings in our courts, I will hold them accountable. These struggling homeowners deserve better." Write to Jon Prior.