JPMorgan Refunds $2 Million to Military Families for Mortgages
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JPMorgan Chase & Co., the second-biggest U.S. bank by assets, said it is mailing $2 million in refunds to military families who were overcharged on mortgages or wrongfully lost their homes.
“We made mistakes here and we are fixing them,” Kristin Lemkau, a spokeswoman for the New York-based bank, said today in a telephone interview. JPMorgan’s mortgage unit is refunding excessive interest and fees charged to 4,000 active-duty personnel and reimbursing or reversing foreclosures for 14 other families who lost homes while on active duty, she said.