<html><head></head><body style="word-wrap: break-word; -webkit-nbsp-mode: space; -webkit-line-break: after-white-space; "><a href="http://readersupportednews.org/opinion2/279-82/18388-focus-credit-card-collections-as-fraudulent-as-mortgage-collections">http://readersupportednews.org/opinion2/279-82/18388-focus-credit-card-collections-as-fraudulent-as-mortgage-collections</a><br><div><span class="Apple-style-span" style="font-family: 'Times New Roman', Times, serif; font-size: 15px; "><h1 class="txttitle" style="margin-top: 30px; margin-right: 0px; margin-bottom: 0px; margin-left: 2px; padding-top: 0px; padding-right: 0px; padding-bottom: 8px; padding-left: 0px; font-size: 22px; font-weight: bold; width: 475px; ">Credit Card Collections As Fraudulent As Mortgage Collections?</h1><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 2px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: left; line-height: 17px; font-size: 12px; color: rgb(51, 51, 51); font-style: normal; text-decoration: none; ">By Matt Taibbi, Rolling Stone</div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 2px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: left; line-height: 17px; font-size: 15px; color: rgb(220, 59, 65); font-family: 'Times New Roman', Times, serif; ">13 July 13</div><div style="margin-top: 10px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: left; line-height: 17px; font-size: 15px; "> <br class="webkit-block-placeholder"></div><p style="margin-top: 10px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: left; line-height: 17px; font-size: 15px; "><img border="0" id="90da343d-eb65-43b9-8920-e0056242203e" height="25" width="28" apple-width="yes" apple-height="yes" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; " src="cid:78B477AF-1705-44F1-91A3-C6B8FDD872A2"> 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.</p><p class="indent" style="margin-top: 10px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: left; line-height: 17px; font-size: 15px; text-indent: 30pt; ">From the <a href="http://online.wsj.com/article/SB10001424127887324867904578595963522586162.html" target="_blank" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; color: rgb(0, 0, 0); ">article</a>:</p><blockquote style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 5px; padding-right: 20px; padding-bottom: 5px; padding-left: 40px; "><p style="margin-top: 10px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: left; line-height: 17px; font-size: 15px; ">The bank studied roughly 1,000 lawsuits and found mistakes in 9% of the cases, said people familiar with the review.</p><p style="margin-top: 10px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: left; line-height: 17px; font-size: 15px; ">"Any rate above zero is high," said one person familiar with the bank's conversations with regulators.</p></blockquote><p class="indent" style="margin-top: 10px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: left; line-height: 17px; font-size: 15px; text-indent: 30pt; ">Thirteen states, as well as the Office of the Comptroller of the Currency, a primary banking regulator, are investigating Chase's insanely sloppy practices in the area of credit-card collections. I've been following this for years thanks to an acquaintance with former Chase VP and whistleblower Linda Almonte, who saw horrific abuses firsthand (I have a chapter on Linda's crazy experiences coming out in my next book). The piece mentions her case:</p><div style="margin-top: 10px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: left; line-height: 17px; font-size: 15px; "><br class="webkit-block-placeholder"></div><blockquote style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 5px; padding-right: 20px; padding-bottom: 5px; padding-left: 40px; ">The case credited with jump-starting investigations into J.P. Morgan's pursuit of credit-card debt was a federal-court lawsuit filed in 2010 by a former J.P. Morgan...</blockquote><div><br></div></span></div><div>
<span><img height="74" width="126" id="9cbce98f-2c62-4558-b0b4-50d50ece104a" apple-width="yes" apple-height="yes" src="cid:D85CD3AA-0F87-494C-9471-8FDE8948C017"></span><span class="Apple-style-span" style="border-collapse: separate; color: rgb(0, 0, 0); font-family: Helvetica; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: 2; text-align: -webkit-auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-border-horizontal-spacing: 0px; -webkit-border-vertical-spacing: 0px; -webkit-text-decorations-in-effect: none; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; font-size: medium; "><span class="Apple-style-span" style="orphans: 2; text-align: -webkit-auto; text-indent: 0px; widows: 2; -webkit-text-decorations-in-effect: none; "><div><span class="Apple-style-span" style="font-size: 9px; "><br class="Apple-interchange-newline">https://www.facebook.com/rizerd?fref=ts</span></div><div style="border-collapse: separate; color: rgb(0, 0, 0); font-family: Helvetica; font-size: medium; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-border-horizontal-spacing: 0px; -webkit-border-vertical-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; "><br></div></span><br class="Apple-interchange-newline"></span><br class="Apple-interchange-newline">
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