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Sunday, Sep 22
Massachusetts probes JPMorgan over debt collection
- No sooner does JPMorgan (JPM) settle investigations with several regulators in different areas - as it did last week - then another probe pops into the news. The Massachusetts Attorney General is reportedly scrutinizing the bank over its debt-collection practices.
- The investigation adds to an inquiry by 13 states into JPM's conduct and that of other companies over debt collection, as well as the myriad other probes that the bank faces.
- On Thursday, JPM settled with the the Office of the Comptroller of the Currency and agreed to repay those harmed in the bank's improper handling of credit-card collections.