High-income auto consumers at risk for default (Under the Hood)
JPMorgan Chase sues MC Hammer for an unpaid auto loan balance
A $2,400-a-month payment was enough to derail rapper MC Hammer’s auto loan, prompting JPMorgan Chase Bank to file suit for the unpaid balance. Lawsuits like these may become more common, even for higher income individuals, as transaction prices and delinquency rates rise. Chase filed suit in California Superior Court on July 31 against MC Hammer […]
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