A federal lawsuit filed today in San Diego alleges Washington Mutual, now operating as a division of JP Morgan Chase Bank, has been systematically reducing and freezing customers' home equity credit lines.
The proposed class-action suit -- filed on behalf of Escondido businesswoman Michell Kimball -- alleges the bank used flawed automated valuation models to intentionally understate home values so it could create a pretext for freezing its customers' line-of-credit accounts.
The lawsuit alleges that the banks are failing to live up to their promises to use $700 billion in taxpayer funds to lend money to cash-strapped home and business owners and are squeezing consumers by freezing or reducing their home equity lines of credit.
Kimball said she first learned that Chase had frozen her WAMU credit line when a check she had drawn on the account was dishonored.
The plaintiff said the action by the bank threatened her home and the viability of her small business.
After Kimball's lawyers intervened, Chase restored her credit line but did not reimburse her for her losses, according to her court papers.
Sunday was all about those who laid their lives on the line and with the number of veterans dwindling each year, many present at a Miramar ceremony hope to keep their memory alive.
A Navy Seal team member has died after his parachute failed to open during a Fleet Week demonstration over the Hudson River.
Metropolitan Transit System is scheduling extra service starting Monday for a three-day game series between the San Diego Padres and Chicago Cubs at Petco Park, a spokesperson said.
Veterans are being honored across San Diego County during Memorial Day weekend and dozens of Boy Scouts and Girl Scouts were among those spending their Saturday placing American flags at burial sites at the Fort Rosecrans National Cemetery.
Commencement was held Sunday for seniors at the University of San Diego, with ceremonies featuring a pair of distinguished alumni.
Cool and cloudy conditions start off Friday morning, but the sun will break through in the afternoon. Strong winds in San Diego County's deserts are also expected to ease up Friday morning.
A 30-year-old was knocked out and stabbed three times at the Beyer Trolley Station early Sunday morning, according to Officer Robert Heims of the San Diego Police Department.
A bird was responsible for an outage that left thousands without electricity Sunday, a San Diego Gas & Electric spokesperson said.
The remains of a U.S. Navy pilot killed when his plane was shot down during the Vietnam War have been brought to San Diego for burial.
In the wake of the Gate Fire, which ignited May 20, the Bureau of Land Management has issued new restrictions for Southern California counties, including San Diego.