Chase Admits Abusive Debt Collection Practices

A piece in the Wall Street Journal dug up yet another damning fact about Jamie Dimon’s J.P. Morgan Chase. This time, reporters got hold of an internal bank survey of its credit-card collections suits. It turns out that Chase’s own survey found that huge numbers of lawsuits filed by the bank contained errors.

From the article:

The bank studied roughly 1,000 lawsuits and found mistakes in 9% of the cases, said people familiar with the review.

“Any rate above zero is high,” said one person familiar with the bank’s conversations with regulators.

Read more: Chase Made Errors in Nine Percent of Credit-Card Collection Lawsuits, Internal Survey Finds