Promoting Accountability in
Violation Tracker Individual Record
The Consumer Financial Protection Bureau and Attorneys General in 47 states and the District of Columbia took action against JPMorgan Chase for selling bad credit card debt and allegedly illegally robo-signing court documents. The CFPB and states found that Chase sold "zombie debts" to third-party debt buyers, which include accounts that were inaccurate, settled, discharged in bankruptcy, not owed, or otherwise not collectible. The order required Chase to document and confirm debts before selling them to debt buyers or filing collections lawsuits. Chase must also prohibit debt buyers from reselling debt and is barred from selling certain debts. Chase was ordered to permanently stop all attempts to collect, enforce in court, or sell more than 528,000 consumer accounts. Chase was required to pay at least $50 million in consumer refunds and $136 million in penalties and payments to the CFPB.