For the printable release, click here.
For immediate release:
Oct. 1, 2015
Chase RMBS Settlement Monitor Credits Chase with $3.5 Billion in Relief
Joseph A. Smith, Jr. confirms Chase’s credited consumer relief through March 31, 2015
RALEIGH, N.C. – Joseph A. Smith, Jr. today released his sixth report on JPMorgan Chase’s progress under its settlement with the federal government and five states concerning claims that Chase, Bear Stearns and Washington Mutual packaged and sold bad residential mortgage-backed securities to investors before the financial crisis (Chase RMBS Settlement or Settlement).
“I have credited Chase with $3,555,280,673 in consumer relief to 158,107 borrowers through March 31, 2015,” Smith said. “I will continue to monitor and report on Chase’s progress until Chase provides the required $4 billion in credited consumer relief by Dec. 31, 2017.”
The Monitor’s report also contains Chase’s self-reported consumer relief credit for the second quarter of 2015. As of June 30, 2015, Chase claimed an additional $126,253,926 in consumer relief. A fact sheet details Chase’s relief.
“I am in the process of confirming Chase’s additional claimed relief,” Smith said “I plan to report my findings near the end of this year.”
About the Chase RMBS Settlement
More information about the Chase RMBS Settlement is available at www.jasmithmonitoring.com/chase.
Further information about Joseph A. Smith, Jr. is available at https://www.jasmithmonitoring.com/.