SEIU.org

Ask Jamie Dimon for a meeting.

There's certainly plenty to talk about. Take a look at all the damage JPMorgan Chase has done under CEO Jamie Dimon. Then, use the form to the right to tell him what you want to discuss.We'll deliver your letters to him next week.

Chase is hurting homeowners .

  • As of July, JPMorgan Chase held over 215,000 mortgages headed for foreclosure.
  • Less than a third of those homeowners have actually gotten a permanent loan modification through the federal government's Making Home Affordable Program. Chase leaves most participants in limbo for months on end - triggering multiple lawsuits against the bank.
  • JPMorgan Chase is among the top mortgage lenders in LA County, where the mortgage crisis has hit especially hard - nearly 100,000 homes foreclosed. The effects have been devastating for thousands of families and the local economy.
Chase is hurting customers .
  • In 2009 alone, Chase charged its customers $7 billion in fees. That's more than 60% of their total profit.
  • JPMorgan Chase arbitrarily raised interest rates on some credit cards, and canceled others without first notifying the cardholders. Millions of Americans have been hurt by the credit crunch as banks like JPMorgan Chase tighten credit despite taking billions in bailout funds to jumpstart the economy.
  • A recent report by the Center for American Progress (CAP) examining bank lending practices in 2006 (the height of the housing boom) reveals that JPMorgan Chase and its recently acquired subsidiaries were much more likely to steer Black and Latino applicants than White applicants into higher priced subprime mortgages: 47.5% of Black borrowers and 36.6% of Latino borrowers compared to 16.4% of White borrowers.
Chase is hurting workers .
  • Recently, 16 people who clean a JPMorgan Chase-owned building in L.A. were laid off in one of the worst economies in recent history. It prompted an LA Times columnist to draw attention to it as another "sorry spectacle of profitable companies improving their balance sheets — and, thereby, their executive bonuses and stockholder dividends — by tossing ordinary working people out of their jobs."
  • But those 16 workers aren't alone - by a long shot. JPMorgan Chase is directly responsible for at least 22,852 layoffs since the recession (they helped create) began, prompting DailyFinance to dub them one of the "Layoff Kings."
  • Most of those workers were laid off after JPMorgan Chase received $94.7 billion in federal bailouts - funded, in part, by the very tax dollars of the workers they laid off.
Chase is hurting taxpayers.
  • And this is how Chase hurts everybody. They're making a profit by lending taxpayers their own money. Even after billions in bailouts - including access to ultra-cheap loans from the Federal Reserve, speculated to be as low as 0.5% - JPMorgan Chase is manipulating government budget processes and charging local and state governments high interest rates. In California, JPMorgan Chase at first refused to accept the state's IOUs at a crucial juncture, but eventually acquiesced and forced the state to seek a 3% loan from it - an interest rate 166% higher than the speculated Fed rate the bank receives.
  • Under Jamie Dimon, Chase has made billions off taxpayers through a scheme called "interest rate swaps." To get a quick primer on how these deals work, check out our video.
  • JPMorgan is sitting on thousands of foreclosed properties across the country. Each home can cost taxpayers as much as $35,000 every year. And while you and I are paying out taxes on our hard-earned property, Chase would owe more than $15m in back taxes if they were paying accurately-assessed property taxes on their CA bank branches.