JPMorgan Settles Credit Card Abuse Case for $100 Million

[think]

JPMorgan Settles Credit Card Abuse Case for $100 Million

November 9, 2015 by John Oldshue

Last week, JPMorgan Chase agreed to pay $100 million as restitution for allegedly using illegal methods to collect payments from credit card customers.

The allegations against the company said Chase filed more than 125,000 collection lawsuits against cardholders by illegally robo-signing sworn documents from 2009 to 2013. They also sent illegal and threatening letters to credit card customers.

~Snip~

This agreement comes after an announcement in July that the financial institution would change, what regulators called, abusive tactics to collect debts. At that time, JPMorgan Chase agreed to pay $166 million for claims and penalties filed by the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency and 47 other states.

California Attorney General Kamala Harris sued JPMorgan in May 2013, alleging that Chase had used "widespread and illegal robo-signing" and other illegal practices when attempting to collect debts from credit card borrowers....

Source:
http://www.lowcards.com/jpmorgan-pay-100-million-settle-credit-card-abuse-claim-37540

[Angry Dragon]

1. I am sure many will find themselves behind bars

and they will be the card holders if anyone goes to jail

[FlatBaroque]

2. The victins of the crimes...what do they receive in compensation?

[Stuart G]

3. Put the leader of Chase..in jail..let him serve some time..asshole

Imagine the pain and suffering he caused...Jamie Diamond...that is who...asshole........And, thanks Elizabeth Warren for the tools to go after them..and also, California Attorney General Kamala Harris for going after that company...

[Rex]

4. +1

[hobbit709]

5. Chump change for them.

[merrily]

7. Beat me to it.

[dixiegrrrrl]

6. Not to worry. The TPP makes all those tactics legal.

Basically removes most consumer protections, in truth.