Tags: debt collection, JPMorgan Chase, Martha Coakley
The Commonwealth is joining lookout for misdeeds among JPMorgan’s marauding gang of debt collectors, but in a maverick, independent-y way.
The Massachusetts Attorney General’s Office is investigating J.P. Morgan Chase & Co.’s debt-collection practices, a person familiar with the matter said, one of several probes the bank faces over how it has collected payments from delinquent borrowers.
The investigation by Massachusetts Attorney General Martha Coakley is separate from another investigation being conducted by a group of 13 states, this person said. That investigation, led by Iowa Attorney General Tom Miller, is focused on the debt-collection practices of J.P. Morgan and other companies.
It wasn’t clear when Massachusetts began its investigation or whether it was at an earlier stage than other states. J.P. Morgan hasn’t previously disclosed the investigation.
Massachusetts Probes J.P. Morgan’s Debt-Collection Practices [WSJ]