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JPMorgan settles California debt collection charges
Source: Reuters
US | Mon Nov 2, 2015 4:00pm EST
JPMorgan settles California debt collection charges
BY JONATHAN STEMPEL
JPMorgan Chase & Co will pay $50 million to settle charges that it engaged in abusive credit card debt collection practices against tens of thousands of people in California, state Attorney General Kamala Harris said on Monday.
California was one of three U.S. states, along with Mississippi and Wyoming, that did not join JPMorgan's $216 million settlement in July of related charges by the federal government, the other 47 states and Washington, D.C.
The California settlement includes a $5 million fine plus $45 million to be used at Harris' discretion, court papers show.
It resolves claims that JPMorgan tried to collect incorrect sums, sold bad credit card debt, engaged in "robosigning" of thousands of court documents it never reviewed, and improperly obtained default judgments against military personnel.
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JPMorgan settles California debt collection charges
BY JONATHAN STEMPEL
JPMorgan Chase & Co will pay $50 million to settle charges that it engaged in abusive credit card debt collection practices against tens of thousands of people in California, state Attorney General Kamala Harris said on Monday.
California was one of three U.S. states, along with Mississippi and Wyoming, that did not join JPMorgan's $216 million settlement in July of related charges by the federal government, the other 47 states and Washington, D.C.
The California settlement includes a $5 million fine plus $45 million to be used at Harris' discretion, court papers show.
It resolves claims that JPMorgan tried to collect incorrect sums, sold bad credit card debt, engaged in "robosigning" of thousands of court documents it never reviewed, and improperly obtained default judgments against military personnel.
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Read more: http://www.reuters.com/article/2015/11/02/us-jpmorgan-california-settlement-idUSKCN0SR2AU20151102
