JPMorgan sued by Mississippi AG over credit card misconduct

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JPMorgan sued by Mississippi AG over credit card “robo-signing” misconduct

JPMorgan sued by Mississippi AG over credit card “robo-signing” misconduct

Reuters-

According to a complaint filed in a state court in Hinds County, Mississippi, JPMorgan has, since at least 2007, relied on “robo-signing” and other discredited practices to pursue consumers for sums they did not owe, already paid, or had excused in bankruptcy.

The lawsuit said employees described a “chaotic” and “disorganized” workplace marred by “rampant” mistakes, inadequate training, constantly changing policies, high turnover and unrealistic quotas.

Hood also accused JPMorgan of relying on “outhouse” law firms that would churn out lawsuits without first reviewing the underlying claims, and working with now-defunct arbitration firm Mann Bracken — dubbed “Mann Broken” by bank employees — that could not keep track of customer payments.

[REUTERS]

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