JPMorgan Chase to Pay $125M to Settle Debt Collection Investigations

According to an exclusive Reuters report, JPMorgan Chase will be paying $125 million to settle investigations by state and federal authorities, some dating back to 2013, related to the improper sale and collection of consumer credit card debt.

Chase reportedly expects to pay approximately $95 million to 47 states and the District of Columbia, $30 million to the CFPB, and $50 million to consumers as restitution.

The report states that the agreement with regulators could be formally announced as soon as today.

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