JPMorgan Chase Settles Over Credit Card Debt Collections

Mani

Published onSeptember 19, 2013

Updated on May 13, 2021

JPMorgan Chase & Co (NYSE:JPM) agreed to settle with U.S. Office of the Comptroller of the Currency over alleged credit card debt collections.

In its consent order, the OCC said the biggest U.S. bank by assets was allegedly violating rules regarding collections practices, debt documents and sale of consumer credit-card debt.

OCC’s allegations

The regulator alleged that the bank filed inaccurate sworn documents in court, and failed in its duties to properly review...

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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

JPMorgan Chase Settles Over Credit Card Debt Collections

OCC’s allegations

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