Thursday, January 12, 2012

Chase Stops Filing Credit Card Suits - Robosigning Fallout?

Just over a year ago, I blogged about whistleblower Linda Almonte's allegation that Chase Bank was engaged in a pattern and practice of fraudulent behavior in its credit card division relating to fraudulent and robosigned documents constructed to back up its credit card receivables. Now industry trade journal Collections and Credit Risk is reporting that Chase has abruptly stopped fililng suit on its credit card accounts and some other accounts. Apparently, in the past year, Chase has fired many, if not most, of the lawyers who have been collecting their accounts. Whatever happened to Linda Almonte? She apparently settled her wrongful discharge case against Chase on confidential terms. I have a hunch that she came out alright.

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