NAPERVILLE, Ill. – A class action lawsuit filed in an Illinois federal court Thursday alleges JPMorgan Chase Bank engaged in fraud to deny customers access to millions of dollars in their previously approved home equity lines of credit.

The case was filed on behalf of Pascal Majon, 30, of Zion, Ill., who claims Chase denied him access to his HELOC account due to a purported substantial decline in the value of his home. Majon’s attorney, Jay Edelson of KamberEdelson LLC, said his client’s home did not decline in value and alleged the bank intentionally used falsified home appraisals to freeze home equity lines of credit.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.