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OCC Probing JPMorgan Chase Credit Card Collections
American Banker ^ | 3/12/12 | Jeff Horwitz

Posted on 03/16/2012 11:42:44 AM PDT by Kartographer

"That's crazy," the person says. "I can't believe they [Chase officials] did that."

Almonte called for the bank to halt the debt sale, but was warned by Lazinbat that "she had better go along with the plan to sell the misrepresented asset," she later wrote in her employment lawsuit.

Almonte says she refused Lazinbat's order and escalated her concerns to his boss, Helaire. Chase fired her on Nov. 30, 2009.

Carole McGinn was not a party to discussions about the debt sale but confirms the thrust of Almonte's claims. "I know she [Almonte] was looking into things that they didn't want her looking into," McGinn says.

The following March, Almonte filed her wrongful termination suit. First reported by the San Antonio Express-News, the case brought Chase's alleged problems into public view.

"This is not an accident anymore," Almonte now says. "The same people who created this problem at Chase are still in charge. They aren't going to fix it unless they're forced to."

(Excerpt) Read more at ...

TOPICS: Business/Economy; Crime/Corruption
KEYWORDS: bank; chase
There is even confirmation that Chase actually shredded and Chase collection personnel had nothing trustworthy in their records to verify any of the claims and yet they sold this unverifiable to outside collectors.

So much for its all technicalities and no one did anything illegal.

1 posted on 03/16/2012 11:42:49 AM PDT by Kartographer
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To: khelus; SaraJohnson; blam; Chunga85; vanilla swirl; Wurlitzer


As if we didn’t already know the game was rigged, but more proof.

2 posted on 03/16/2012 11:44:44 AM PDT by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
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To: Kartographer

I’ve hated Chase since 1972 when they refused to cash one of their own travels checks at their bank in Malaysia, until I threw a fit.
Their stock rating has never recovered....I wish.

3 posted on 03/16/2012 11:49:35 AM PDT by WestwardHo
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To: Kartographer

I have a friend who worked in collections for a very well-known company. She said she had a number of co-workers who would flagrantly and deliberately break the law every day. They were not being paid enough to care, in their view.

4 posted on 03/16/2012 12:43:18 PM PDT by Buckeye McFrog
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To: Kartographer

They know that the regular Joe Schmo is not going to be able to afford to defend themselves against this scam.

It is very serious when you have an unethical, amoral elite class - formally re-educated that way in the name of Marxist/diversity/multicultural progress. Capitalism can not be sustained and thrive with this kind of character corruption. Western ethic goes with the integrity of our western economic system. We permitted the elite to put together libertarian’s freedom of oversight for multi-national corporations with Marxism’s atheistic and total control (elitist/dictator) social ideal. We created a monster. I sensed when this deal was struck between liberalism and capitalism in the early 90’s.

This is why we are “progressing” towards global fascism; free markets are not sustainable with the current elite class’ mentality. We need to re-trian all these people and certify them in western business ethics and constitutional freedom and prosecute them when they rip people off of liberty or treasure. Libertarians will squeal! Let them. They had their chance to implement their social/economic ideology and they totally f’’’ed everything up.

5 posted on 03/16/2012 1:18:48 PM PDT by SaraJohnson
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To: Buckeye McFrog

You can not purchase character. Either people have character and integrity or they do not. Today they are taught not to have character in socialist studies. Truth and integrity are relative.

6 posted on 03/16/2012 1:21:06 PM PDT by SaraJohnson
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To: SaraJohnson

Defend himself. Joe Shmo is only one guy.

7 posted on 03/16/2012 4:54:03 PM PDT by arthurus (Read Hazlitt's "Economics In One Lesson.")
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To: WestwardHo

Today’s JPMorgan Chase is not the same Chase Manhattan that refused to cash your traveler’s cheques — if you follow all the mergers that have occurred along the way. Importantly, it was Chemical Bank that bought Chase back in the 1990s, when Chase was failing. After Chemical acquired Chase, Chemical took Chase’s name. But, the people in charge are really from Chemical Bank. Then JPMorgan acquired Chase and put its people in charge.

I don’t know how you trace the line of accountability back through all of that to 1972. But, even so, I, too, would do what you do. Never deal with Chase after they refused to cash one of their own traveler’s cheques - that is beyond contempt. There’s a Chase somewhere in the woodpile of the current bank bearing that name.

8 posted on 03/16/2012 5:00:10 PM PDT by WashingtonSource
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To: WashingtonSource

“Today’s JPMorgan Chase is not the same Chase Manhattan”

Wow! You’ve got their geneology down! I did know that Chase is no longer Chase Manhattan...I just thought maybe that old manager would see my post! LOL!!!

9 posted on 03/16/2012 5:24:59 PM PDT by WestwardHo
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To: Kartographer

It’s getting very difficult to contain this mess. So much real wealth has been stolen there isn’t much left to steal except debt. Crazy.

10 posted on 03/17/2012 9:44:14 AM PDT by Chunga85 ("Foreclosure Fraud", TARP, "Fight Club Lawyer", Bailout)
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