Congressman responds to my request for Deutsche Bank inquiry

A couple of weeks ago I wrote to Congressman Mike Michaud (Democrat - Maine) concerning the foreclosure activities of Deutsche Bank and demanding a Congressional hearing.  You can read my letter here.

Congressman Michaud sent me the following message today:

Dear David:

Thank you for contacting me regarding the JP Morgan Chase hearings and your concerns with Deutsche Bank AG. Maine has unique needs that often require bi-partisan solutions, focused attention and thinking outside of the box. That is why I appreciate your taking the time to get in touch with me and why I come home to Maine nearly every weekend.  

According to JP Morgan Chase's own records, they overcharged more than 4,500 active duty military personnel on their home loans and wrongly foreclosed on 18 of them. This is a gross violation of the protections our country provides to those that serve. I opposed the bank bailout, and these actions are the height of corporate irresponsibility for a bank that received billions of dollars through bailouts.

Following this hearing, JP Morgan Chase has begun to take steps to correct their behavior by significantly enhancing its programs to help military and veteran customers, including lowering interest rates for eligible borrowers. I will be closely monitoring the implementation of this new program to make sure that it lives up to its promises.

I am concerned by reports that the Deutsche Bank AG may have followed similar practices and taken advantage of our military members and taxpayers. I will be bringing these concerns to the attention of the Chair of the House Committee on Veterans' Affairs, and please know that I will keep your comments in mind as I continue to follow this situation.

Thank you again for sharing your views with me. In addition, I also provide occasional email updates on a range of issues affecting people in Maine. If you would like to receive this information, please visit my website at http://www.michaud.house.gov/enewsletter and sign up for my email newsletter. I appreciate the opportunity to represent Maine in Congress.

                  With warmest Regards,

                  Michael H. Michaud

                  Member of Congress                                         

 

Comments

[Volker]

"Following this hearing, JP Morgan Chase has begun to take steps to correct their behavior by significantly enhancing its programs to help military and veteran customers, including lowering interest rates for eligible borrowers."

So what this tells us is that justice in your country is a joke and only for the rich to buy as they see fit?

I still don't get what your congress has to do with criminal investigations against JP Morgan Chase and Deutsche Bank, if they have done something wrong let your legal system take care of it, that is what it is there for, isn't it? Where is your Attorney General or whatever his title?