The same problems that plagued the foreclosure process – prompting a multibillion-dollar settlement with big banks — are now emerging in the debt collection practices of credit card companies. The New York Times reports that American Express, Citigroup and other are going to court to recoup their money but many of the lawsuits rely on erroneous documents, incomplete records and generic testimony from witnesses.
The following is an excerpt from the book "24 Days: How Two Wall Street Journal Reporters Uncovered the Lies that Destroyed Faith in Corporate America," by Rebecca Smith and John R. Emshwiller (HarperBusiness, $25.95).
Community of business faces danger of single story.
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