Page 12 - Ft. Irwin High Desert Warrior 12-4-15

12 High Desert Warrior www.aerotechnews.com/ntcfortirwin
December 4, 2015

Legal

JPMorgan Chase to pay millions in restitution, fines

Submitted by OSJA an additional 30,000 robo-signed sworn statements in support
of lawsuits filed against California consumers by third-party
NTC and Fort Irwin debt-collectors. Chase also made systematic calculation errors
regarding the amounts owed, and sold “zombie debts” to third-
On Nov. 2, 2015, California Attorney General Kamala D. party debt-collectors that included accounts that were inaccurate,
Harris announced a stipulated judgment resolving allegations settled, discharged in bankruptcy, not owed, or otherwise not
that JPMorgan Chase committed credit card debt-collection collectable.
abuses against tens of thousands of Californians. The settle-
ment specifically addresses debt collection wrongdoing that The attorney general’s investigation and litigation further
includes collecting incorrect amounts, selling bad credit card revealed that Chase sent letters to consumers that contained
debt, and running a debt collection mill that involved illegally illegal threats and were signed by attorneys who did not review
“robo-signing” thousands of court documents and improperly the accuracy of the information, determine if litigation was ap-
obtaining default judgments against military servicemembers. propriate, or intend to follow through on some of the threats
made, in violation of California’s Rosenthal Fair Debt Collection
As part of the settlement, Chase will pay $50 million in res- Practices Act. Chase also filed false declarations regarding military
titution to consumers nationwide, including an estimated $10 service and improperly obtained default judgments against ser-
million to California consumers, and significant restitution to vicemembers on active duty, in violation of the Servicemembers
servicemembers in California, some of whom were on active duty Civil Relief Act and the California Military and Veterans Code.
when Chase obtained illegal default judgments against them.
Chase will also pay $50 million in penalties and other payments The judgment requires Chase to document and confirm debts
to California, through the Office of the Attorney General. The before filing credit card collections lawsuits or selling credit card
judgment includes injunctive terms that fundamentally change debts to debt-collectors. Chase is barred from robo-signing court
Chase’s credit card debt-collection practices to prevent similar and other documents, and also must prohibit debt buyers from
misconduct in the future. reselling the credit card debts owed to Chase. Chase is also barred
from selling certain debts, and is required to permanently stop all
Between 2009 and 2013, Chase filed more than 125,000 attempts to collect, enforce in court, or sell more than 528,000
credit card collection lawsuits against California consumers consumer accounts valued at hundreds of millions of dollars.
relying on illegally robo-signed sworn documents and provided

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