drummer55 Posted March 15, 2012 Report Share Posted March 15, 2012 Chase Bank Targeted in Probe Over Allegations of Robosigning in Credit Card Collections | Moneyland | TIME.comsome tidbits....go read the article..The magazine talked to current and former employees who say they were pressured to sign off on documents verifying the debts even when the amounts couldn’t be confirmed.Assistant vice president-turned-whistleblower Linda Almonte says she was fired in 2010 for raising concerns about the shoddy state of the records being sold to debt buyers. “Nearly half of the files her team sampled were missing proofs of judgment or other essential information… nearly a quarter of the files misstated how much the borrower owed,” American Banker says. Most of the debts were actually lower, Almonte alleged.American Banker also cites whistleblower complaints that describe an ongoing, deliberate practice of destroying documents that favored debtors. “Chase shredded incoming correspondence such as records of borrower payments and counter-judgments extinguishing debts,” the article says. One former employee tells the magazine about records being “trashedRead more: Chase Bank Targeted in Probe Over Allegations of Robosigning in Credit Card Collections | Moneyland | TIME.com Link to comment Share on other sites More sharing options...
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