JPMorgan Chase & Co. (NYSE:JPM) examined more than 1,000 lawsuits as part of the bank’s internal review of its debt collection process, and what it found was that mistakes were made in 9 percent of the resulting lawsuits over credit card nonpayments. While that figure may not seem too bad, “any rate above zero is high,” one person familiar with the bank’s conversations with regulators told The Wall Street Journal.
via In Rush to Sue Delinquent Borrowers, JPMorgan Racked Up Errors | Wall St. Cheat Sheet.
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