JPMorgan gets $136M fine for debt collections

Washington • JPMorgan Chase will pay $136 million to settle charges that it used illegal tactics to go after delinquent credit card borrowers. The Consumer Financial Protection Bureau alleges the bank illegally relied on robo-signing — signing mass quantities of documents — and provided inaccurate information to third-party debt collectors when it sold the accounts. The bureau also said that Chase filed misleading lawsuits using inaccurate information to obtain debt collection judgments. Under t...

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