Chase to Pay $100 Million Settlement

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Under a settlement announced Monday, New York finance giant JPMorgan Chase Inc. will have to pay $100 million – $50 million in state penalties and $50 million to credit-card customers – for its debt-collection practices, the Los Angeles Times reports. California Attorney General Kamala Harris filed a lawsuit two years ago alleging, among other things, that the bank had sent threatening letters to customers, miscalculated the amount of money owed on their credit cards and had improperly obtained default judgments against members of the military.

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