Consumer complaint received 2018-02-13
Company: JPMORGAN CHASE & CO.
State: WA
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Problem using a debit or ATM card

Complaint:
Dear Consumer Financial Protection Bureau As a recent a victim of fraud, I want to file a complaint against Chase Bank as they fail to protect my fund and wouldnt take full responsibility by the way they enforced the 60-days liability federal policy. 
The incident started on XX/XX/XXXX, when a thief somehow got my SAVING account information, opened a XXXX account and transferred an amount of {$1.00} through a XXXX transaction. I, myself DO NOT have XXXX account. Almost two month later, on XX/XX/XXXX,  the second fraud transaction ( {$1000.00} ) happened. And throughout XX/XX/XXXX, there are two more transactions taken place. The most recent fraud transaction happened in XX/XX/XXXX. I didnt realize of all these unauthorized activities happened in my SAVING account until XX/XX/XXXX and had filed a dispute claim to Chase. The total amount stolen from my SAVING account is about {$5500.00}. After reviewed my dispute claim, Chase Claim department denied majority of my dispute claims and only refund me back {$1.00} and {$1000.00}. Chase denied the rest of charges with the statement that theyre beyond the 60-days liability rule. I called Chase Claim department multiple times and they still given me the same answer. They told me the 60-days liability rule start counting when the first activity happened in XX/XX/XXXX, therefore, they only refund me back {$1.00} and {$1000.00}. Chase wouldnt let me break out into multiple claims. Chase blamed on me for not noticing {$1.00} were missing from my Saving account back in XX/XX/XXXX and report it so now Im holding reliable for that. I can understand if Chase cant recover fraud transactions way back in XX/XX/XXXX because it was too long. But why can they recover recent charges in XX/XX/XXXX and early XX/XX/XXXX when I reported on XX/XX/XXXX. Im questioning the way Chase enforced the 60-days liability rule, which doesnt make any sense. 
Anyway, after multiple rejection answers from Chase, per my conversation with one of the senior claim analysis, she suggested I can pursue the rest of the disputes with XXXX. And so, I contacted XXXX and their staff was very supportive about reversing the recent charges since its still within 60 days. However, because the way XXXX is set up, they cant transfer fund directly back to the bank or another XXXX account. If they reverse the fund, then it would go back to thiefs XXXX account. The only way XXXX can direct the fund if Chase initiate the process. The XXXX representative and I called Chase on a three-way call to find a solution. Chase representatives ( my call was transferred to multiple people ) repeatedly refused to support XXXX to reverse the charges to my account because it had passed the 60-days liability timeframe. I feel deeply disappointed of Chases action because they refused to take their responsibility to help me get my money back. Even when I already done the leg work by contacted XXXX, and XXXX is willing to reverse the charges, so I dont understand why Chase cant provide the support mechanism for the reverse action to take place. Chase keep refer to the 60-days liability policy and refused to take further steps to support the reverse action. I can understand that Chase cant do anything if XXXX is denying the claim. But this is not the case, XXXX is willing to reverse the refund but, yet Chase refused provide the support needed for it take place. 
With the whole situation, I have multiple questions about the way Chase enforced the 60-days liability rule and have Chase done their job to protect my information such as my Saving account. First of all, SAVING account should be more secure compared to credit and debit accounts because its not being expose with daily use transactions. I dont have monthly direct deposit set up in that Saving account and havent done anything much with it since I opened it. I didnt lose my debit card and I dont use checks to pay bill so how is the thief obtained my saving account information in the first place. Second, this is a SAVING account we are talking about, which its very imperceptible to notice you missing {$1.00} when you balance is in thousands. Per my situation, it seen like thief is knowledgeable of the 60-days liability rule because he waited for almost 2 months after the {$1.00} dollar missing before starting to commit crimes more frequent. The way Chase enforcing the rule is allowing thief to find loop holes and continues their crimes. Thief could complete a {$1.00} transaction ( which very unnoticed to most people ) and wait for 60 days and wipe out the entire account. The banks is wouldnt be reliable per the way Chase enforced the 60-days liability policy, so the only person left with the burden is the fraud victim. Since bank is not held reliable after 60 days, there is no incentive for them to go after the thief. Thirdly, even when I have done the leg work to contact XXXX, and XXXX is willing to reverse the charges, but Chase is still refused and isnt held liable to provide the support mechanism for the reverse action to take place. In a way, it encouraging the fraud continues happen. 
Im putting in this claim with the intention of not only demanding the answers from Chase, but also want to bring awareness to the situation. There is a loop hole in this federal 60-days liability policy. The consumer financial protection bureau needs to reevaluate this policy and be more specific of how bank enforce the policy to better protect vulnerable consumers. 
My claim number with Chase on this dispute is XXXX. 

Thank you for taking the time to review this complaint. 

Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation