Creditors Practice Section

This section was created for attorneys who are in the creditors practice field. It provides its members the opportunity to exchange information with other practitioners in this area of practice, provides timely CLE and legislative updates.

Chair
Portfolio Recovery Associates, LLC
140 Corporate Blvd
Norfolk, VA 23502
(888)772-7326

AG Announces $136M Chase Bank Settlement

Tennessee Attorney General Herbert Slatery, along with 46 other states and the Consumer Financial Protection Bureau, announced a $136 million settlement with Chase Bank USA N.A. and Chase Bankcard Services Inc. The deal settles claims that Chase subjected consumers to inaccurate credit reporting, unlawful judgments, inaccuracies in debt collection suits, re-sale of uncollectable debts, use of false and deceptive affidavits and robo-signing. As part of the deal, Chase will spend $50 million to make restitution to consumers and will be barred from reselling consumer debts to other purchasers.

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AG Reaches Settlement with Middle Tennessee Auto Dealer

Middle Tennessee auto dealer Wholesale Inc. has agreed to immediately change its advertising practices and pay the State of Tennessee $50,000, Attorney General Herbert H. Slatery III announced today. The state alleged that the defendant made numerous false representations in violation of the Tennessee Consumer Protection Act, including use of a fictitious lender called “CreditAble Auto Funding” claimed to be “by military, for military,” offering a limited amount of loans to military personnel. "Our men and women in uniform deserve to be told the truth when considering a consumer purchase," Slatery said.

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