Chase to pay $100 million over bad debt-collection practices in California
Source: LA Times
The nation's biggest bank will pay $100 million to settle allegations that it used illegal and abusive debt-collection practices to squeeze money out of California credit-card customers.
The deal settles a 2013 lawsuit brought against JPMorgan Chase by California Atty. Gen. Kamala Harris.
Harris took the bank to court alleging that it miscalculated the amounts consumers owed, sold debts to collectors even if they were longer owed and illegally "robo-signed" documents filed in more than 125,000 collections lawsuits against California customers.
The bank also was accused of sending threatening letters to consumers and improperly seeking default judgments against military servicemembers on active duty, violating state and federal laws.
Read more: http://www.latimes.com/la-fi-chase-kamala-settlement-20151102-story.html
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