Consumer complaint received 2023-06-22
Company: JPMORGAN CHASE & CO.
State: NY
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Other features, terms, or problems
Sub-issue: Other problem

Complaint:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XX/XX/23 Chase Bank Customer service department XXXX XXXX XXXX XXXX XXXX DE XXXX Subject : Pre-Arbitration Notice - Account Closure Without Prior Notice and Violation of Fair Debt Collection Practices Act ( FDCPA ) and Fair Credit Reporting Act ( FCRA ) Dear Sir/Madam, I am writing to express my deep concern regarding the recent closure of my account with Chase Bank without any prior notice. I believe that this action not only violates the guidelines set forth by the Fair Debt Collection Practices Act ( FDCPA ) but also disregards the factual circumstances surrounding my account. Furthermore, it may also be in violation of the Fair Credit Reporting Act ( FCRA ). 

On XX/XX/23, I discovered to my surprise that my account with Chase Bank had been closed without any warning or notification from your institution. This action took place within the same month I had made timely payments towards my account balance. As a customer who consistently adheres to payment obligations, it is both disheartening and confusing to be subjected to such a sudden and drastic measure without any explanation. 

The FDCPA explicitly outlines the responsibilities and obligations of financial institutions, including the requirement to provide consumers with appropriate notice before taking any adverse actions, such as the closure of an account. This notice allows customers the opportunity to rectify any potential issues and maintain a positive banking relationship. The absence of such notice in my case leaves me puzzled and concerned about the treatment I have received. 

Additionally, I would like to bring to your attention the potential violation of the Fair Credit Reporting Act ( FCRA ). This act establishes guidelines for the accuracy, fairness, and privacy of information reported to credit bureaus. The closure of my account without valid cause or proper notification may result in negative and inaccurate reporting to credit bureaus, which could harm my credit standing. It is imperative that Chase Bank adheres to the provisions of the FCRA and ensures that accurate information is reported. 

Furthermore, it is crucial to acknowledge the facts surrounding my account prior to its closure. I have been a loyal customer of Chase Bank for several years, maintaining a satisfactory banking relationship. I have diligently made payments towards my account on time, never defaulting or displaying any signs of financial irresponsibility. Given this history, the sudden closure without any prior notice seems unjust and contrary to the principles of fair banking practices. 

In light of the aforementioned circumstances, I kindly request that you provide me with a detailed explanation for the closure of my account. Additionally, I request that you reinstate my account promptly, allowing me to resume normal banking activities. Moreover, I expect Chase Bank to take immediate steps to rectify any inaccurate reporting to credit bureaus and ensure that my credit standing remains unaffected. 

Failure to provide a satisfactory response or take appropriate corrective actions XXXX result in further legal recourse to protect my rights under the FDCPA and FCRA. I emphasize the importance of Chase Bank 's compliance with these laws to avoid potential legal consequences. 

I expect your prompt attention and resolution in this matter. Please consider this letter as a pre-arbitration notice, indicating my intent to escalate this issue further if necessary. I encourage Chase Bank to rectify this situation, restore my account, and address any potential credit reporting discrepancies. 

I look forward to receiving a timely response from you within 18 days from the date of this letter. You may contact me at the provided email address or phone number to discuss this matter further. Thank you for your immediate attention to this urgent issue. 

Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation