JPMorgan Chase reportedly is closing debt-collection unit

10/17/2013 | AmericanBanker.com (free registration)

JPMorgan Chase plans to shut down its collection-litigation services division, the group that sues consumers to collect delinquent debts, sources said. The bank has not confirmed the change. Two years ago, JPMorgan stopped filing debt-collection lawsuits after facing legal scrutiny over its practices and records.

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