Consumer complaint received 2023-11-14
Company: JPMORGAN CHASE & CO.
State: TX
Product: Credit reporting or other personal consumer reports
Sub-product: Credit reporting
Issue: Improper use of your report
Sub-issue: Reporting company used your report improperly

Complaint:
Hi, I have recently discovered how unfairly I have been treated and have now been made aware of what things actually mean. I am an heir of of the kingdom of heaven, with that being said I have discovered Chase the U.S. consumer and commercial banking business of JPMorgan Chase & Co. has violated my god-given rights and below I have attached violations and rights. 


Violations- 4-403. CUSTOMER 's RIGHT TO STOP PAYMENT ; BURDEN OF PROOF OF LOSS.

( a ) A customer or any person authorized to draw on the account if there is more than one person may stop payment of any item drawn on the customer 's account or close the account by an order to the bank describing the item or account with reasonable certainty received at a time and in a manner that affords the bank a reasonable opportunity to act on it before any action by the bank with respect to the item described in Section 4-303. If the signature of more than one person is required to draw on an account, any of these persons may stop payment or close the account.

( b ) A stop-payment order is effective for six months, but it lapses after 14 calendar days if the original order was oral and was not confirmed in a record within that period. A stop-payment order may be renewed for additional six-month periods by a record given to the bank within a period during which the stop-payment order is effective.

( c ) The burden of establishing the fact and amount of loss resulting from the payment of an item contrary to a stop-payment order or order to close an account is on the customer. The loss from payment of an item contrary to a stop-payment order may include damages for dishonor of subsequent items under Section 4-402.

2-702. Seller 's Remedies on Discovery of Buyer 's Insolvency.

( 1 ) Where the seller discovers the buyer to be insolvent he may refuse delivery except for cash including payment for all goods theretofore delivered under the contract, and stop delivery under this Article ( Section 2-705 ).

( 2 ) Where the seller discovers that the buyer has received goods on credit while insolvent he may reclaim the goods upon demand made within ten days after the receipt, but if misrepresentation of solvency has been made to the particular seller in writing within three months before delivery the ten day limitation does not apply. Except as provided in this subsection the seller may not base a right to reclaim goods on the buyer 's fraudulent or innocent misrepresentation of solvency or of intent to pay.

( 3 ) The seller 's right to reclaim under subsection ( 2 ) is subject to the rights of a buyer in ordinary course or other good faith purchaser under this Article ( Section 2-403 ). Successful reclamation of goodsexcludes all other remedies with respect to them.

15 U.S. Code 1691 - Scope of prohibition ( a ) Activities constituting discrimination It shall be unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction ( 1 ) on the basis of race, color, religion, national origin, sex or marital status, or age ( provided the applicant has the capacity to contract ) ; ( 2 ) because all or part of the applicants income derives from any public assistance program ; or ( 3 ) because the applicant has in good faith exercised any right under this chapter.

( b ) Activities not constituting discrimination It shall not constitute discrimination for purposes of this subchapter for a creditor ( 1 ) to make an inquiry of marital status if such inquiry is for the purpose of ascertaining the creditors rights and remedies applicable to the particular extension of credit and not to discriminate in a determination of credit-worthiness ; ( 2 ) to make an inquiry of the applicants age or of whether the applicants income derives from any public assistance program if such inquiry is for the purpose of determining the amount and probable continuance of income levels, credit history, or other pertinent element of credit-worthiness as provided in regulations of the Bureau ; ( 3 ) to use any empirically derived credit system which considers age if such system is demonstrably and statistically sound in accordance with regulations of the Bureau, except that in the operation of such system the age of an elderly applicant may not be assigned a negative factor or value ; ( 4 ) to make an inquiry or to consider the age of an elderly applicant when the age of such applicant is to be used by the creditor in the extension of credit in favor of such applicant; or ( 5 ) to make an inquiry under section 1691c2 of this title, in accordance with the requirements of that section.

( c ) Additional activities not constituting discrimination It is not a violation of this section for a creditor to refuse to extend credit offered pursuant to ( 1 ) any credit assistance program expressly authorized by law for an economically disadvantaged class of persons ; ( 2 ) any credit assistance program administered by a nonprofit organization for its members or an economically disadvantaged class of persons ; or ( 3 ) any special purpose credit program offered by a profit-making organization to meet special social needs which meets standards prescribed in regulations by the Bureau ; if such refusal is required by or made pursuant to such program.

( d ) Reason for adverse action ; procedure applicable; adverse action defined ( 1 ) Within thirty days ( or such longer reasonable time as specified in regulations of the Bureau for any class of credit transaction ) after receipt of a completed application for credit, a creditor shall notify the applicant of its action on the application.

( 2 ) Each applicant against whom adverse action is taken shall be entitled to a statement of reasons for such action from the creditor. A creditor satisfies this obligation by ( A ) providing statements of reasons in writing as a matter of course to applicants against whom adverse action is taken ; or ( B ) giving written notification of adverse action which discloses ( i ) the applicants right to a statement of reasons within thirty days after receipt by the creditor of a request made within sixty days after such notification, and ( ii ) the identity of the person or office from which such statement may be obtained. Such statement may be given orally if the written notification advises the applicant of his right to have the statement of reasons confirmed in writing on written request.

( 3 ) A statement of reasons meets the requirements of this section only if it contains the specific reasons for the adverse action taken.

( 4 ) Where a creditor has been requested by a third party to make a specific extension of credit directly or indirectly to an applicant, the notification and statement of reasons required by this subsection may be made directly by such creditor, or indirectly through the third party, provided in either case that the identity of the creditor is disclosed.

( 5 ) The requirements of paragraph ( 2 ), ( 3 ), or ( 4 ) may be satisfied by verbal statements or notifications in the case of any creditor who did not act on more than one hundred and fifty applications during the calendar year preceding the calendar year in which the adverse action is taken, as determined under regulations of the Bureau.

( 6 ) For purposes of this subsection, the term adverse action means a denial or revocation of credit, a change in the terms of an existing credit arrangement, or a refusal to grant credit in substantially the amount or on substantially the terms requested. Such term does not include a refusal to extend additional credit under an existing credit arrangement where the applicant is delinquent or otherwise in default, or where such additional credit would exceed a previously established credit limit.

( e ) Copies furnished to applicants ( 1 ) In general Each creditor shall furnish to an applicant a copy of any and all written appraisals and valuations developed in connection with the applicants application for a loan that is secured or would have been secured by a first lien on a dwelling promptly upon completion, but in no case later than 3 days prior to the closing of the loan, whether the creditor grants or denies the applicants request for credit or the application is incomplete or withdrawn.

( 2 ) Waiver The applicant may waive the 3 day requirement provided for in paragraph ( 1 ), except where otherwise required in law.

( 3 ) Reimbursement The applicant may be required to pay a reasonable fee to reimburse the creditor for the cost of the appraisal, except where otherwise required in law.

( 4 ) Free copy Notwithstanding paragraph ( 3 ), the creditor shall provide a copy of each written appraisal or valuation at no additional cost to the applicant.

( 5 ) Notification to applicants At the time of application, the creditor shall notify an applicant in writing of the right to receive a copy of each written appraisal and valuation under this subsection.

( 6 ) Valuation defined For purposes of this subsection, the term valuation shall include any estimate of the value of a dwelling developed in connection with a creditors decision to provide credit, including those values developed pursuant to a policy of a government sponsored enterprise or by an automated valuation model, a broker price opinion, or other methodology or mechanism.

4A-406. PAYMENT BY ORIGINATOR TO BENEFICIARY ; DISCHARGE OF UNDERLYING OBLIGATION.

Primary tabs ( a ) Subject to Sections 4A-211 ( e ), 4A-405 ( d ), and 4A-405 ( e ), the originator of a funds transfer pays the beneficiary of the originator 's payment order ( i ) at the time a payment order for the benefit of the beneficiary is accepted by the beneficiary 's bank in the funds transfer and ( ii ) in an amount equal to the amount of the order accepted by the beneficiary 's bank, but not more than the amount of the originator 's order.

( b ) If payment under subsection ( a ) is made to satisfy an obligation, the obligation is discharged to the same extent discharge would result from payment to the beneficiary of the same amount in money, unless ( i ) the payment under subsection ( a ) was made by a means prohibited by the contract of the beneficiary with respect to the obligation, ( ii ) the beneficiary, within a reasonable time after receiving notice of receipt of the order by the beneficiary 's bank, notified the originator of the beneficiary 's refusal of the payment, ( iii ) funds with respect to the order were not withdrawn by the beneficiary or applied to a debt of the beneficiary, and ( iv ) the beneficiary would suffer a loss that could reasonably have been avoided if payment had been made by a means complying with the contract. If payment by the originator does not result in discharge under this section, the originator is subrogated to the rights of the beneficiary to receive payment from the beneficiary 's bank under Section 4A-404 ( a ).

( c ) For the purpose of determining whether discharge of an obligation occurs under subsection ( b ), if the beneficiary 's bank accepts a payment order in an amount equal to the amount of the originator 's payment order less charges of one or more receiving banks in the funds transfer, payment to the beneficiary is deemed to be in the amount of the originator 's order unless upon demand by the beneficiary the originator does not pay the beneficiary the amount of the deducted charges.

( d ) Rights of the originator or of the beneficiary of a funds transfer under this section may be varied only by agreement of the originator and the beneficiary.

4-406. CUSTOMER 's DUTY TO DISCOVER AND REPORT UNAUTHORIZED SIGNATURE OR ALTERATION.

( a ) A bank that sends or makes available to a customer a statement of account showing payment of items for the account shall either return or make available to the customer the items paid or provide information in the statement of account sufficient to allow the customer reasonably to identify the items paid. The statement of account provides sufficient information if the item is described by item number, amount, and date of payment.

( b ) If the items are not returned to the customer, the person retaining the items shall either retain the items or, if the items are destroyed, maintain the capacity to furnish legible copies of the items until the expiration of seven years after receipt of the items. A customer may request an item from the bank that paid the item, and that bank must provide in a reasonable time either the item or, if the item has been destroyed or is not otherwise obtainable, a legible copy of the item.

( c ) If a bank sends or makes available a statement of account or items pursuant to subsection ( a ), the customer must exercise reasonable promptness in examining the statement or the items to determine whether any payment was not authorized because of an alteration of an item or because a purported signature by or on behalf of the customer was not authorized. If, based on the statement or items provided, the customer should reasonably have discovered the unauthorized payment, the customer must promptly notify the bank of the relevant facts.

( d ) If the bank proves that the customer failed, with respect to an item, to comply with the duties imposed on the customer by subsection ( c ), the customer is precluded from asserting against the bank : ( 1 ) the customer 's unauthorized signature or any alteration on the item, if the bank also proves that it suffered a loss by reason of the failure; and ( 2 ) the customer 's unauthorized signature or alteration by the same wrongdoer on any other item paid in good faith by the bank if the payment was made before the bank received notice from the customer of the unauthorized signature or alteration and after the customer had been afforded a reasonable period of time, not exceeding 30 days, in which to examine the item or statement of account and notify the bank.

( e ) If subsection ( d ) applies and the customer proves that the bank failed to exercise ordinary care in paying the item and that the failure substantially contributed to loss, the loss is allocated between the customer precluded and the bank asserting the preclusion according to the extent to which the failure of the customer to comply with subsection ( c ) and the failure of the bank to exercise ordinary care contributed to the loss. If the customer proves that the bank did not pay the item in good faith, the preclusion under subsection ( d ) does not apply.

( f ) Without regard to care or lack of care of either the customer or the bank, a customer who does not within one year after the statement or items are made available to the customer ( subsection ( a ) ) discover and report the customer 's unauthorized signature on or any alteration on the item is precluded from asserting against the bank the unauthorized signature or alteration. If there is a preclusion under this subsection, the payor bank may not recover for breach of warranty under Section 4-208 with respect to the unauthorized signature or alteration to which the preclusion applies.

15 U.S. Code 1681- Congressional findings and statement of purpose ( a ) Accuracy and fairness of credit reporting The Congress makes the following findings : ( 1 ) The banking system is dependent upon fair and accurate credit reporting. Inaccurate credit reports directly impair the efficiency of the banking system, and unfair credit reporting methods undermine the public confidence which is essential to the continued functioning of the banking system.

( 2 ) An elaborate mechanism has been developed for investigating and evaluating the credit worthiness, credit standing, credit capacity, character, and general reputation of consumers.

( 3 ) Consumer reporting agencies have assumed a vital role in assembling and evaluating consumer credit and other information on consumers.

( 4 ) There is a need to insure that consumer reporting agencies exercise their grave responsibilities with fairness, impartiality, and a respect for the consumers right to privacy.

( b ) Reasonable procedures It is the purpose of this subchapter to require that consumer reporting agencies adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance, and other information in a manner which is fair and equitable to the consumer, with regard to the confidentiality, accuracy, relevancy, and proper utilization of such information in accordance with the requirements of this subchapter.

4A-209. ACCEPTANCE OF PAYMENT ORDER.

Section 4A-209 defines when acceptance occurs. Section 4A-210 covers rejection. Acceptance of the payment order imposes an obligation on the receiving bank to the sender if the receiving bank is not the beneficiary 's bank, or to the beneficiary if the receiving bank is the beneficiary 's bank.

Company response to consumer: Closed with explanation