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Archive for 'robo-signing'
New York: Consumer Fair Debt Collection Practices Rights Trampled On
New report blames “Sewer Service,” “Robosigning,” and lack of legal representation Last month the New Economy Project (NEP), a New York-based non-profit advocacy group, released its report detailing abuses in New York courts that are to blame for overburdening the...
Read MoreRegulators Probing Banks’ Debt Collection Practices
Federal regulators are widening an investigation into whether the nation’s biggest banks used flawed documents and incomplete records to collect on delinquent credit card debts, according to four people familiar with the probe. The scope of the inquiry is unclear,...
Read MoreForget the Facts! Robo-Sign it!
Judgments against unsuspecting consumers for defaulted loans are being churned out by debt collectors like Midland Funding, using robo-signed affidavits of debt as substitutes for properly investigated, properly documented debt. Robo-signing is the mass-production of “sworn” affidavits used to prove outstanding...
Read MoreMidland Funding LLC Agrees to Settle Lawsuit by Minnesota Attorney General
Debt buyer Midland Funding LLC agreed to pay Minnesota $500,000 to settle a lawsuit filed last year by Minnesota Attorney General Lori Swanson. The lawsuit accused the company of robo-signing affidavits in collection lawsuits and sometimes targeting the wrong people...
Read MoreProblems Riddle Moves to Collect Credit Card Debt
The same problems that plagued the foreclosure process — and prompted a multibillion-dollar settlement with big banks — are now emerging in the debt collection practices of credit card companies. As they work through a glut of bad loans, companies like American...
Read MoreDeceased Womans Name Was Robo-Signed on Thousands of Affidavits
In 2008, Portfolio Recovery Associates Inc. was sued for fraud after affidavits were submitted bearing the name of Martha Kunkle, who died in 1995. It appears that Martha Kunkle has come back to life. Last July, lawyers for Portfolio Recovery Associates sought...
Read MoreJPMorgan Chase Hit With SEC Whistleblower Complaint Over Credit Card Practices
A former JPMorgan Chase employee is suing the company for wrongful termination but more importantly she has filed a whistleblower complaint with the SEC. The allegations charge JPMorgan with robo-signing, which is the automatic generation of documents such as foreclosure...
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