JPMorgan Review Finds Mistakes In Debt-Collection Lawsuits: WSJ

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JPMorgan Review Finds Mistakes In Debt-Collection Lawsuits: WSJ

JPMorgan Review Finds Mistakes In Debt-Collection Lawsuits: WSJ

I guess you want to say the same “mistakes” fraud found in foreclosures.

 

HuffPO-

JPMorgan Chase & Co made mistakes while suing thousands of its credit card customers over non-payments, the Wall Street Journal reported, citing the bank’s internal review of its debt-collection process.

JPMorgan examined about 1,000 lawsuits and found mistakes in 9 percent of the cases, the Journal said, citing people familiar with the review.

“Any rate above zero is high,” one person familiar with the bank’s conversations with regulators told the newspaper. (http://link.reuters.com/mak59t)

The errors ranged from inaccurate interest and fees applied by outside law firms to a “small number of instances” in which lawsuits listed higher balances than the amounts owed by borrowers.

In certain cases sworn documents were signed without knowledge of their accuracy, according to an internal document reviewed by the Wall Street Journal.

[HUFFINGTON POST]

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One Response to “JPMorgan Review Finds Mistakes In Debt-Collection Lawsuits: WSJ”

  1. Elaine says:

    And the banks are still allowed to self-regulate. Nothing has been learned. All those congressional hearings were for show. Very few people are in jail. Lorraine Brown former CEO of LPS is doing jail time but hey LPS is still doing business. David Stern still isn’t in jail. Move on folks – there is nothing to see here.

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