California AG Sues Chase

Whistle blower Linda Almonte, who will be joining us for a brand new debt buyer litigation seminar next month, has started a landslide.

First, as the American Banker reported back in March, the Office of the Comptroller of the Currency got interested in Chase’s practices after Linda filed her whistle blower complaint.  Chase employees reportedly confirmed that the organization spent about two months gathering data at the facility where Almonte had worked prior to her discharge.

That investigation was only the beginning, though.  Earlier this month, California Attorney General Kamala Harris filed suit against Chase, after an investigation of the company’s credit card collection practices.  The California suit focuses on robo-signing and Chase’s practice of indundating the courts with poorly-documented lawsuits on credit accounts.  Various sources, including Linda’s own experience, suggest that those account records were inaccurate and that in some cases, the consumer didn’t owe Chase anything at all.

The problem is exacerbated when those poorly-documented and inaccurate debts are sold to debt buyers.  This leads to debt buyers pursuing incorrect balances,  pursuing the wrong individual, erroneously stating the amount and nature of the claim to debtors and a host of other problems.

We’re very fortunate to have Linda joining us for our first-ever Debt Buyer Litigation seminar on June 29 and 30, 2013.  She’ll share the same information about the practices she witnessed that caught the attention of state and federal regulators, and empower you to hold credit card companies and the debt buyers that feed off of these practices accountable.