Chase Bank credit card judgments are in question after a July 8, 2015 consent order. The Consumer Financial Protection Bureau (“CFPB”) ordered Chase to permanently halt collections on more than 528,000 accounts and consumer credit card judgments. The July 8, 2015 Consent Order stated:
- Chase filed lawsuits and obtained judgments against consumers using deceptive affidavits and other documents that were prepared without following required procedures because, for example, they were at times signing without personal knowledge of the signer, a practice commonly referred to as “robo-signing.”
- Chase made certain errors calculating pre- and post-judgment fees and interest when filing debt collection lawsuits, which resulted in judgments against consumers for incorrect amounts.
- Chase obtained judgments against consumers using documents that were falsely sworn and that at times contained inaccurate amounts, which may affect consumers’ ability to obtain credit, employment, housing, and insurance.
- Chase’s practices misled consumers and courts.
Chase is now required to stop all efforts to enforce, collect, sell or otherwise transfer any judgment entered in a case pending between January 1, 2009 and June 30, 2014.
If Chase entered a judgment against you or a Chase credit card debt from 2009-2014 appears on your credit report, you may have the right to stop further collection conduct. First, make sure you check your credit report to see if the debt is listed as unpaid on your report. Then, be sure to visit http://files.consumerfinance.gov/f/201507_cfpb_consent-order-chase-bank-usa-na-and-chase-bankcard-services-inc.pdf for more information on the CFPB’s order.