Iowa Attorney General Tom Miller is leading a multi-state investigation of banks and other businesses — like debt collectors — that go after delinquent credit card debt. Geoff Greenwood is a spokesman for the attorney general..
Greenwood says investigators may uncover instances of automatic signing of documents similar to what mortgage companies were accused of after a surge of home foreclosures.
Iowa’s attorney general was involved in the multi-state investigation of mortgage lenders that resulted in a 25-billion dollar national settlement for customers who were wrongly foreclosed upon. Several federal agencies are involved in this new investigation of the credit card industry and Greenwood says it includes reviewing the cases of some Iowa consumers who were behind on credit card payments.