JP Morgan Chase (JPM.N: Quote) and prosecuting thousands of credit card customers in the non-payment of a mistake, Wall Street Journal quoted the bank's internal review of its debt collection process.
Morgan checked about 1,000 lawsuits and 9% of the cases found an error, "Wall Street Journal" quoted informed sources commented.
"" Zero or more of any high speed, banks and regulators dialogue, an insider told this reporter. (Link.reuters.com/mak59t)
Error range inaccurate application is made by an external law firm interest and fees "rare circumstances", which lists the litigation over the borrower's outstanding balance is higher.
In some cases, sign a sworn document does not recognize its accuracy, according to the Wall Street Journal in an internal document review.
However, JP Morgan Chase, summed errors found mostly "small" and "There is a minimal" impact on customers. "We have no reason to doubt," the principal amount, the bank requires the collection of accurate, the document said.
California Attorney General sued JP Morgan Chase in May, accusing the bank of a false signature files, illegally collecting thousands of customers from credit card debt.
The lawsuit alleges that JPMorgan engaged in widespread illegal "robot signature" legal documents submitted to the debt collection against about 100,000 California credit card loans.
JP Morgan in 2011 to stop submitting credit card-related lawsuit alleges appears, in its mortgage department employees have signed a large number of foreclosures not to review relevant documents.
The bank decided to review its collections litigation, foreclosure fiasco, in order to determine whether it is in other parts of its consumer units have similar problems, according to the paper's approach.
JP Morgan could not immediately reach the United States by Reuters outside regular business hours to comment.
 



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