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JPMorgan Queried by Key Democrats About ‘Robo-Signing’ Practices

  • Senate Banking Committee members send letter to Jamie Dimon
  • Bank spokesman says accusations of robo-signing are false
Elizabeth Warren
Elizabeth WarrenPhotographer: Sarah Silbiger/Bloomberg

A key group of Senate Democrats has asked JPMorgan Chase & Co. for more information about its debt-collection policies and whether the biggest U.S. bank is engaging in practices that were deemed predatory following the 2008 financial crisis. 

In a letter to Chief Executive Officer Jamie Dimon, lawmakers on the Senate Banking Committee including Sherrod Brown, the panel’s chairman, and Elizabeth Warren, asked the bank if it has resumed so-called robo-signing of legal documents when pursuing customers over credit-card debt. The practice, where employees process paperwork without thoroughly reviewing it, could affect “tens of millions” of American families, the senators said.