Regulators have yet to finish cracking down on JPMorgan Chase's (JPM) credit card collection operations, but the bank already appears to be paying a hefty price.

The bank's recoveries of previously charged off credit card debts have fallen by 41%, or almost $600 million, over the past two years. While likely due in part to a broader industry slowdown in card losses, JPMorgan's slump far outpaces declines in recoveries at other big credit card issuers.

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