Beaufort man representing U.S. military wins $56 million settlement (Updated)

Flickr user SEIU International

First reporting, updates at the bottom: John Rowles of the United States Marine Corps announced on behalf of the military last week that they had settled a prospect lawsuit against J.P. Morgan for $56 million dollars.

Rowles, who would later call the settlement "phenomenal," blew the whistle on J.P Morgan's continued violations of a federal law that was designed to ease the financial pressure on active-duty military personnel.  

The story has been a pretty huge deal around the business world, with Bloomberg having the best coverage — you can read their article here, or check out our prior post here.

Update November 4: Thanks to a large turnout of those threatened with or subject to foreclosure while deployed the settlement could be larger than $56 million.

Expect a final number after a settlement hearing on the 15th.

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