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JPMorgan Fails to Dismiss California Debt Collection Case

JPMorgan Fails to Dismiss California Debt Collection Case

JPMorgan Chase & Co. (JPM) lost a bid to throw out a lawsuit by the California attorney general alleging that the largest U.S. bank by assets illegally tried to collect debt from about 100,000 credit-card borrowers.

California Superior Court Judge Jane L. Johnson in Los Angeles yesterday rejected the bank’s argument that the attorney general’s unfair competition claims were precluded by California legal authority.

“I can’t find any case that is just slam-dunk there for you,” Johnson told JPMorgan’s lawyer, David Schrader.

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