California Sues JPMorgan Over Illegal Debt Collections

Mani

Published onMay 10, 2013

Updated on May 13, 2021

JPMorgan Chase & Co. (NYSE:JPM) was sued by California Attorney General Kamala Harris over claims that JP Morgan pursued lawsuits against defaulted borrowers based on insufficient evidence.

The Attorney says that from January 2008 to April 2011, JPMorgan Chase & Co. (NYSE:JPM) filed more than 100,000 lawsuits against consumers in the state over uncollected credit-card debt, including 469 in a single day.

Harris' accusations for JPMorgan

Harris’ office alleges JPMorgan’s use of illegal robo-signing was widespread. The practice involved automatic signing of various documents, some sworn, without reviewing the paperwork or bank records. Robo-signing was used...

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Mani

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports

California Sues JPMorgan Over Illegal Debt Collections

Harris' accusations for JPMorgan

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