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.
Only two days before preview night at Comic-Con kicks off and the streets of downtown San Diego on Monday night were being transformed in Comic-Con fever.
One person has died in a rollover accident on the eastbound Interstate 8 near Dunbar Lane in Blossom Valley.
After last week's Build-A-Bear "Pay Your Age" sale fail, the company has announced you can still get the age deal (sort of) with its birthday-month "Count Your Candles" program.
IHOP has gotten over its identity crisis and is going right to a promotion that puts the spotlight on the flapjacks that made it famous.
Moisture levels will increase through Wednesday. Thunderstorms chances are elevated throughout San Diego County Wednesday and Thursday.
The San Diego City Council on Monday rejected Mayor Kevin Faulconer's plan regarding short term vacation rentals, but in a 6 to 3 vote approved City Councilwoman Barbara Bry's regulations plan.
The San Diego International Airport was granted $12.1 million in the Federal Aviation Administration's latest round of awards announced Monday.
A harbor seal with the most severe neck wound that SeaWorld's rescue team had ever seen was returned to the ocean after undergoing rehabilitation at the San Diego theme park.