Just in case you’re looking for another reason to hate big banks — other than letting their greed practically tank the economy, I mean — here’s something you might be interested in. A year ago in Auburn, Wash., outside Seattle, Chase Bank called police to arrest Ikenna Njoku, a 28-year-old construction worker who had come to them to cash what the bank said was a fake check. It turns out that the check was a valid rebate check from … can you guess? … that’s right, Chase Bank. While Njoku was in jail for several days, his car was auctioned off because he couldn’t pay the impound fee while he waited for his check to clear. Without a car, he couldn’t get to work and so he was fired. Now it’s almost a year later, and Njoku still hasn’t received even an apology from the bank. Last week, his attorney demanded an offer of reparations from Chase Bank, which says it’s reviewing the case. Watch a Seattle TV news station’s report:
This article appears in Jul 5-11, 2011.
From Politico:
“Hilary West, formerly financial services legislative counsel for Rep. Mel Watt (D-N.C.), has been hired into JP Morgan Chase’s government affairs shop.”
Mel Watt’s top campaign contributors:
Top 5 Contributors, 2007-2008, Campaign Cmte
Contributor Total Indivs PACs
Bank of America $13,500 $6,500 $7,000
Wachovia Corp $12,500 $2,500 $10,000
American Express $11,000 $1,000 $10,000
American Bankers Assn $10,000 $0 $10,000
Top 5 Industries, 2007-2008, Campaign Cmte
Industry Total Indivs PACs
Lawyers/Law Firms $57,050 $34,750 $22,300
Securities & Investment $47,200 $6,700 $40,500
Commercial Banks $41,500 $10,500 $31,000