On March 3, 2015, the Department of Justice’s U.S. Trustee Program entered into a Settlement Agreement with JPMorgan Chase Bank (“Chase”) relating to Chase’s mortgage servicing practices in Chapter 13 consumer bankruptcy cases. Specifically, in the Settlement Agreement, Chase acknowledged that it filed in bankruptcy courts throughout the country approximately 53,000 payment change notices that were incorrectly signed by persons who had not reviewed the accuracy of the notices. According to the Settlement Agreement, it is Chase’s belief that— though the payment change notices were incorrectly signed—they were substantively reviewed prior to filing. Chase also acknowledges that, in some instances, the payment change notices that Chase filed were untimely or contained inaccurate payment information, and that Chase failed in certain instances to provide timely, accurate escrow statements for borrowers in bankruptcy.

The Settlement Agreement requires Chase to provide approximately $43 million in consumer relief and to change internal operations relating to Chase’s preparation and filing of payment change notices and annual escrow analyses for borrowers in bankruptcy. The relief under the settlement will take various forms, including: credits, refunds, and second lien forgiveness to qualifying borrowers, significant technological and procedural revisions to Chase’s internal operations and audit functions, and a $7.5 million donation to the American Bankruptcy Institute’s endowment for financial education and support for the Credit Abuse Resistance Education Program.

Amy Walsh has been appointed as the Independent Reviewer responsible for verifying the factual representations Chase made in the Settlement Agreement, as well as Chase’s fulfillment of its remedial obligations under the Settlement Agreement. Ms. Walsh will file periodic reports detailing Chase’s compliance efforts and results.

The purpose of this website is to provide the public with information relating to Chase’s implementation of the Settlement Agreement. This website was created by and will be maintained by the Independent Reviewer, and is not sponsored by JPMorgan Chase or any of its affiliates. In addition, the Settlement Agreement referred to throughout this website relates only to the consumer bankruptcy division of Chase.