Posted by: youngragingbull | May 10, 2013

California takes JPMorgan to court over debt collections

The State of California sued J.P. Morgan Chase & Co. late Thursday over alleged unlawful debt-collection practices.

Attorney General Kamala Harris said the bank used robo-signing and other illegal practices against 100,000 credit card holders over at least a three-year period.

The attorney general alleges J.P. Morgan cut corners in filing thousands of debt-collection lawsuits a month in order to get default judgments and garnish wages.

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