First Posted: 02/ 9/11 04:59 PM Updated: 02/ 9/11 05:09 PM
WASHINGTON — A leading House Democrat said on Wednesday that executives at JPMorgan Chase are responsible for the deaths of soldiers who take their own lives under illegal financial pressure from the bank.
That charge, leveled by Rep. Bob Filner (D-Calif.), the ranking Democrat on the House Veterans’ Affairs Committee, came at the panel’s hearing Wednesday on violations of the Servicemembers Civil Relief Act by the megabank.
The law limits interest rates that banks can charge soldiers who are deployed abroad at 6 percent, a rule an executive at the hearing admitted the bank has broken.
“People who are under pressure commit suicide. I would call it homicide, frankly, because you are putting them under pressure. You are responsible for that,” Filner told Stephanie B. Mudick, a JPMorgan Chase executive vice president of consumer practices.