Certified Forensic Loan Auditors, LLC

 
  Upcoming Classes

Search CFLA's Article Archive:

California settles debt collection suit with JPMorgan Chase

host.madison.com | November 5, 2015

By Don Thompson

SACRAMENTO, Calif. (AP) — The nation's largest bank will pay $100 million to settle a California lawsuit alleging it used illegal methods to collect debts from more than 125,000 credit card holders, the state's attorney general announced Monday.

JPMorgan Chase & Co., the largest U.S. bank by assets, will pay an estimated $10 million to consumers in California as part of a previously announced $50 million national agreement, and will pay another $50 million in penalties to the state to settle a 2013 lawsuit.

It is agreeing to change practices that the state says violated California law and led the company to file thousands of debt collection lawsuits between 2008 and 2011. They include collecting incorrect amounts, selling bad credit card debt, and running what Attorney General Kamala Harris' office calls a debt collection mill that "robo-signed" court documents.

The deal includes reimbursing military members in California in cases where the company improperly obtained default judgments. The state says the company failed to check if customers were on active military duty but falsely swore it had done so.

"This settlement provides real relief to tens of thousands of Californians, including servicemembers, and prevents JPMorgan Chase from continuing these deceptive and illegal debt collection practices," Harris said in a statement.

JPMorgan Chase spokesman Paul Hartwick said the company reached a similar settlement with 47 other states' attorneys general in July. He provided a statement from that settlement that says the company stopped the practices years ago.

Among other allegations, the state said the company used illegal threats; sued borrowers based on insufficient evidence, betting that they wouldn't challenge the lawsuits; and failed to tell customers they were being sued while swearing they had been properly notified.

Harris said the company frequently "robo-signed" legal documents including sworn declarations without first reviewing the files as it rushed to obtain court judgments and wage garnishment orders.

The state said the company also provided 30,000 robo-signed sworn statements backing lawsuits filed by outside debt-collectors. Those accounts were often inaccurate or not collectable because the debt had been settled, discharged in bankruptcy or wasn't owed, the state said.

Robo-signing was also widely used in mortgage foreclosures until it was outlawed. JPMorgan Chase is one of five major national banks that settled with California and other states over such practices after the housing market collapsed.

As part of the lawsuit, the company is required to permanently stop attempting to collect more than 528,000 customer accounts valued at hundreds of millions of dollars.

 

Back to November 2015 Archive

 

CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

SEE BELOW- http://www.certifiedforensicloanauditors.com

Call us toll free at 888-758-2352

Bookmark and Share
spacer
Facebook Like us on Facebook
Twitter Follow us on Twitter
YouTube View our YouTube Videos
LinkedIn Connect to us on Linkedin
 
BBB Logo

 

spacer

Contact us or view our Sample Documents & Audits by completing the form below.

  • Reload
  • Should be Empty:

 

DVD Sets Only $99

 

FREE Mortgage Fraud Analysis

 

Order Cutting-Edge Services Now

 

Quiet Title Packages from Licensed Attorneys

 

Affiliate Services

 

CFLA Sponsored Attorney Links

 

Take-Home Education Package

 

ALB Law Firm

 

Advocate Legal

 

The True News Network

 

Sutton Law Firm, P.L.L.C.

 

Rubenstein Business Law

 

Atighechi Law Group

 

Scunziano & Associates

 

Get Certified to Perform Mortgage Securitization Audits

 

CFLA Training Academy

 

Expert Witness Services

 

Cutting Edge Expert Securitization Reports

 

CFLA Credit Cards

 

Breaking News

 

Letters to the Editor

 

CFLA Weekly Newsletters

 

Code of Ethics

 

Testimonials

 

Instructional Videos

 

Job Opportunities

 

License Opportunities

 

MARS Rule

 

Product Samples

 

Resource Links

 

Servicer Information

 

Foreclosure Laws

 

REST Report

 

Quiet Title Packages from Licensed Attorneys

 

Advertise on CFLA

 

Advertising Space: Mortgage Securitization, Quiet Title

 

Certified Forensic Loan Auditors, LLC
13101 West Washington Blvd.
Suite 444
Los Angeles, CA 90066

Phone: 832-932-3951
Toll Free: 888-758-CFLA (2352)
Mobile Users: CLICK TO CALL
info@certifiedforensicloanauditors.com

   
 
CFLA IS NOT A LAW FIRM AND DOES NOT PROVIDE ANY LEGAL ADVICE. CFLA DOES NOT OFFER FORECLOSURE CONSULTING OR FORECLOSURE RELIEF
SERVICES. CFLA DOES NOT OFFER OR ASSIST WITH ANY LOAN MODIFICATION SERVICE. CFLA ALWAYS RECOMMENDS THAT CLIENTS RETAIN COMPETENT COUNSEL IN THEIR RESPECTIVE JURISDICTION. CFLA HAS A FREE PROGRAM TO REFER CFLA CLIENTS TO LAW FIRMS IN NEARLY EVERY STATE AND CFLA
DOES NOT CHARGE OR OBTAIN REFERRALS FEES FOR THESE SERVICES. SERVICES NOT OFFERED TO RESIDENTS OF THE STATE OF NEVADA.

 
Home About Us Privacy Policy Terms of Service Disclaimer SERVICES Careers Contact Us
 
COPYRIGHT © 2007-2016 Certified Forensic Loan Auditors ™ All rights reserved