Chase Hit With $50 Million Settlement Over Robosigned Mortgage Documents

Chase Hit With $50 Million Settlement Over Robosigned Mortgage Documents

The nation’s biggest banks have already been hit with billions of dollars in settlements over robosigning — the illegal process of signing and filing important mortgage documents without reviewing them for accuracy — so what’s a few million more? Today, the Justice Dept. announced a settlement with JPMorgan Chase that will require the bank to pay more than $50 million in cash, mortgage credits, and loan forgiveness, to over 25,000 currently and recently bankrupt homeowners. [More]

WellPoint Hiring Jeopardy-Champ Computer To Make Treatment Decisions For Customers

WellPoint Hiring Jeopardy-Champ Computer To Make Treatment Decisions For Customers

We’re sure that most of you were sitting around thinking that the one thing the U.S. health insurance business needs is to be even less human than it is currently. And it looks like the folks at the health insurance behemoth WellPoint have heard those thoughts, because they have decided to “hire” Watson, the IBM supercomputer that beat two humans on Jeopardy earlier this year to help them decide on issues of treatment for policyholders. [More]