Thursday,
California’s attorney general, Kamala Harris, sued JPMorgan Chase & Co. for
unlawful debt collection practices. The bank used illegal tactics to collect
debts from credit card holders. Between 2008 and 2011, the company’s in-house
lawyers filed 100 lawsuits per day; the outside counsel filed over 20,000
lawsuits. Harris is accusing the company of cutting corners in order to speed
up trials and cut costs. Apparently, the company did not review files and bank
statements related to the lawsuits, it did not review documents in filing
debt-collection lawsuits, it did a poor job of drafting legal filings, and it
failed to properly notify its customers of the lawsuits. Harris seeks a permanent ban on the alleged illegal practices and damages for borrowers who
were harmed during the trials.Monday, May 13, 2013
The State of California Vs. JPMorgan Chase & Co.
Thursday,
California’s attorney general, Kamala Harris, sued JPMorgan Chase & Co. for
unlawful debt collection practices. The bank used illegal tactics to collect
debts from credit card holders. Between 2008 and 2011, the company’s in-house
lawyers filed 100 lawsuits per day; the outside counsel filed over 20,000
lawsuits. Harris is accusing the company of cutting corners in order to speed
up trials and cut costs. Apparently, the company did not review files and bank
statements related to the lawsuits, it did not review documents in filing
debt-collection lawsuits, it did a poor job of drafting legal filings, and it
failed to properly notify its customers of the lawsuits. Harris seeks a permanent ban on the alleged illegal practices and damages for borrowers who
were harmed during the trials.
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