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Friday
May102013

Calif. Attorney General Sues JP Morgan over Debt-Collection Practices

STAN HONDA/AFP/Getty Images(LOS ANGELES) -- California Attorney General Kamala Harris is suing JP Morgan over unlawful debt-collection practices against 100,000 credit card holders in the state.
 
The bank is accused of illegally robo-signing documents and "other unlawful practices," according to a release Thursday by the California Department of Justice.  Banks previously used this process to rush homes through foreclosure.
 
“My office will demand a permanent halt to these practices and redress for borrowers who have been harmed,” Harris said in the Justice Department statement.

The complaint states that the bank "cut corners in the name of speed, cost savings, and their own convenience, providing only the thinnest veneer of legitimacy to their lawsuits."
 
Since the financial crisis, there have been many lawsuits -- all of which have ended in a settlement of some sort.  
 
Despite the many accusations, no big bank has been convicted of any wrongdoing for actions leading up to and in response to the financial crisis.
 
JP Morgan Chase, so far, has declined to comment on the suit.

Copyright 2013 ABC News Radio