PHILADELPHIA, PA—A former president of middle market commercial banking at JPMorgan Chase says the bank tried to pressure him to get a nonprofit board to scuttle the settlement of an affordable housing lawsuit, and fired him when he refused.
Wayne Trotman of New Hope, PA, filed a lawsuit against JPMorgan Chase in Philadelphia Common Pleas Court, alleging that the bank wanted him to use his position on the board of The Redevelopment Fund to stop the out-of-court settlement of an affordable housing dispute in Mount Holly, NJ.
“Mr. Trotman's claims are baseless and we fully intend to fight this in court,” says Erich Timmerman, a spokesman for JPMorgan Chase & Co.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.