Some of America's largest banks are under investigation again.
This time they're accused of bad bookkeeping, that may have cost credit card customers millions of dollars.
Bank of America, JPMorgan Chase, Citigroup and Wells Fargo are the subject of an investigation to determine whether the banks helped debt collectors pursue bogus judgements against credit card holders, according to an article from Reuters.com.
The nation's biggest banks are accused of poor record keeping, failing to provide accurate information to collection agencies, and not providing evidence that the borrowers owed money.
John Fisher is a senior vice president with Money Management International, a nonprofit organization that helps people in debt.
He says said that debt collectors will often put a lot of pressure on people to pay up, so it's not unreasonable to think that some consumers will pay money they don't owe just to make the collectors go away.
"Just the effort for consumers to learn what their rights are, and then go pursue their rights is challenging for them," said Fisher. "In some cases they simply make the decision that this is too much for me, and they are just going to pay it even when they don't need to. That might be their best economical decision, even when its not the right one."
Saturday, May 25 2013 6:48 PM EDT2013-05-25 22:48:46 GMT
A trooper from the Michigan State Police Flint post was involved in a shooting early this morning in Mount Morris Township. It happened at approximately 3:30am when the officer pulled over a vehicle nearMore >
One man is dead after an incident with a Michigan State Police officer.More >
ObitMichigan.com is dedicated to delivering immediate, up-to-date information on obituaries 24 hours a day, 7 days a week to families and friends in Mid-Michigan. Death notices are displayed during theMore >
ObitMichigan.com is dedicated to delivering immediate, up-to-date information 24 hours a day, 7 days a week to families and friends who have lost loved ones.More >
Friday, May 24 2013 1:47 PM EDT2013-05-24 17:47:03 GMT
Breaking News: Saginaw and Michigan State Police on are the scene of a quadruple shooting in Saginaw. Investigators confirm four people were shot at a pre-prom gathering in the parking lot of the FlorenceMore >
A 17 year old girl was shot and killed and three others wounded at a pre-prom gathering in Saginaw. The three others that were wounded were all female.More >
Friday, May 24 2013 11:46 AM EDT2013-05-24 15:46:21 GMT
A car crash has blocked the northbound lanes of M-13 in Bay County. Bay County central dispatch said the crash happened around 7:30 a.m. Friday just north of the Kawkawlin River Road and Russel Road. DriversMore >
The northbound lanes of M-13 have been reopened following a two-car crash in Bay County.More >
Friday, May 24 2013 4:37 PM EDT2013-05-24 20:37:48 GMT
WNEM has received word of an accident involving a STARS bus on Saginaw's east side. The accident happened near the intersection of Gallagher Street and Sheridan Avenue around 10:30 a.m. Friday. It isMore >
An accident involving a STARS transit bus on Saginaw's east side sent three people to the hospital Friday morning. The bus and a van collided and the bus then crashed into two different houses in the area.More >
Friday, May 24 2013 6:00 PM EDT2013-05-24 22:00:26 GMT
Are you staying closer to home this weekend but looking for a place to take the family? Well, TV5 has some options for you. Bikes, Barks and Balloons is happening in Frankenmuth this Memorial Day weekend,More >
Are you staying closer to home this weekend but looking for a place to take the family? Well, TV5 has some options for you. More >
Friday, May 24 2013 4:00 PM EDT2013-05-24 20:00:31 GMT
Winners have been selected for this week's installment of Top 5 on 5. WNEM was looking for the best place in Genesee County and the Tri-Cities for a milkshake. After counting the votes, the winner forMore >
Winners have been selected for this week's installment of Top 5 on 5.More >
Friday, May 24 2013 2:31 PM EDT2013-05-24 18:31:05 GMT
Police looking for a 25-year-old woman who disappeared from her job at a West Michigan gas station last month are getting 20 tips a day. Norton Shores police Chief Dan Shaw said Friday that while theMore >
Police looking for a 25-year-old woman who disappeared from her job at a West Michigan gas station last month are getting 20 tips a day.More >