Consumer complaint received 2018-02-22
Company: JPMORGAN CHASE & CO.
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
Dear Sir/Ma'am : I logged in to my Chase accounts on XX/XX/XXXX & was alarmed to see that 4 of my credit cards were canceled. I immediately called Chase to find out if my account was compromised but was shocked to find out that they decided to cancel my account but could not explain why. I first spoke to XXXX whos working in an overseas location & was transferred to XXXX, an account supervisor in Florida. I was told by XXXX to wait for a letter in the mail. 

I received a letter on XX/XX/XXXX stating my my checking account & 4 credit cards were indeed canceled and Chase does not want to conduct any further business with me. The irony is I received an offer two weeks prior inviting me to be a Private Client, one of Chases exclusive tier of customers. I got a business card for a Private Client banker & gave her a call to explain my situation but she just told me to call this number - - since she couldnt help me on her end. 

I called the number she gave - XXXX XXXX XXXX - and spoke to XXXX from Florida on Tuesday, XX/XX/XXXX. She told me she couldnt disclose the reason for my account closure except that it was irreversible. I asked her what reasons Chase would have to cancel an account but she couldnt provide an answer. I also asked if theres an appeal or review process & she said theres none.

I have been a Chase customer since XXXX and have excellent credit with minimal debt-to-income ratio. My spouse & I hold more than 120K in investable assets. I am not a risk to the bank. 

In fact, this closure poses significant costs and time constraints. I will have to contact the Treasury Department to update the ACH deposits on Treasury bonds I purchased 8 years ago. I will have to update the autopay on more than half a dozen billers including our life insurance. I will have to meet with our retirement custodian to update recurring contributions to our IRA accounts. I will also have to inform the IRS and the California Franchise Tax Board that my checking account is no longer active and able to receive refunds and/or make estimated payments. All these are undue burden and unreasonable costs that Chase caused on me. 

Under the Fair Credit Reporting Act, I am entitled to explanation whenever anything in my file has been used against me. I also have the right to dispute incomplete or inaccurate information. 

I could only assume what reasons Chase would have to terminate my accounts without just cause. In numerous instances, Ive informed them via online channels that Im be traveling back & forth the XXXX and would be incurring charges. I also send money overseas through online remittance companies debited from my Chase checking account. I am a minority while my husband is not. My accounts were closed but his were not. We do not share the same last name. Mine is XXXX, he is XXXX, clearly not a minority. I believe an investigation is warranted into potential civil rights violation on Chases end. 

My most recent interaction with Chase was disputing a transaction at a gas station in Oklahoma. I prepaid {$20.00} on XX/XX/XXXX for gas inside the store since the pump wouldn't take my Chase credit card. I only needed to pay {$10.00} but it has been more than 7 days and I never received a refund or saw an adjustment on the charge, hence I raised a dispute with Chase. They acted on the dispute on XX/XX/XXXX and canceled my account on the same date. This was also a weird coincidence. 

I am sincerely hoping that the Consumer Financial Protection Bureau can act on this matter and intercede on my behalf as an American consumer against Chase Bank.

Company response to consumer: Closed with explanation