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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsA Return to Robo-Signing: JPMorgan Chase Has Unleashed a Lawsuit Blitz on Credit Card Customers
by Patrick Rucker, The Capitol Forum
Jan. 5, 5 a.m. EST
Early in 2020, as the pandemic gripped the nation, JPMorgan Chase offered to help customers weather the crisis by taking a temporary pause on mortgage, auto and credit card payments. Chases CEO, Jamie Dimon, sounded sympathetic about a year later as he offered broader reflections on what was ailing the country. Americans know that something has gone terribly wrong, he wrote in a letter to shareholders. Many of our citizens are unsettled, and the fault line for all this discord is a fraying American dream the enormous wealth of our country is accruing to the very few. In other words, the fault line is inequality.
But even as those words were published, the bank had quietly begun to unleash a lawsuit blitz against many of its struggling customers. Starting in early 2020 and continuing to today, Chase has filed thousands of lawsuits against credit card customers who have fallen behind on their payments.
Chase had stopped pursuing credit card lawsuits in 2011, in the wake of the last major economic downturn, after regulators found that the company was filing tens of thousands of flimsy suits, sometimes overstating what customers owed. Rather than being backed by extensive billing records to document the debts, according to the regulators, the suits were typically filed with a short affidavit from one of a half-dozen Chase employees in one office in San Antonio who vouched for the accuracy of the banks information in thousands of suits.
https://www.propublica.org/article/a-return-to-robo-signing-jpmorgan-chase-has-unleashed-a-lawsuit-blitz-on-credit-card-customers
RKP5637
(67,108 posts)Disaffected
(4,554 posts)Yeah Jamie, how much are you worth? How much are you paid??
onethatcares
(16,168 posts)how hard do you "work"?
Aside from figuring out ways to rake your depositors over the coals for a few silver pieces more?
ShazamIam
(2,574 posts)Near monopolization of banking allows so much fraud against their customers,