JPMorgan fined $136M 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 announced Wednesday. The CFPB alleged the bank illegally relied on robo-signing — signing mass quantities of documents without verifying the data in those accounts — and provided inaccurate information to third-party debt collectors when it sold the accounts. The bureau also said that Chase filed misleading lawsuit...

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