Consumer complaint received 2021-03-06
Company: JPMORGAN CHASE & CO.
State: NV
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
In the month of XXXX 2020 I received an XXXX XXXX loan credited to my business account. XXXX conducted an application review as well as an approval in the amount of {$20000.00} due to the decreased revenue that the business experienced. The funds were deposited into Chase Bank with no issue. Roughly around XX/XX/XXXX an Investigator that represents Chase 's global security, she conducted an interview because she stated they were looking into the validity of my business. I completed the interview and she requested further documentation to prove the established dates because Chase believes my business was not established according to the dates outlined on XXXX 's website. I presented to her my Operating Agreement that outlines when my business was established, I also provided my secretary of state, EIN number, website details, XXXX, XXXX, as well as contracts from venders doing business with my company, which the contracts clearly stated when they were established. The investigator was not satisfied with information so I was fired because I refused to furnish my bank statement from another financial institution to " prove '' my eligibility. This is not apart of the XXXX requirements for getting a loan. Nor is this apart of any policies of Chase. XXXX sent an email confirming the validation of my loan and Chase still refused to honor that information. The firm then retaliated against me and froze my entire family members accounts, accounts that they depend on to live. My wages, pension, XXXX, children 's tuition account, investment account, as well as both of my business accounts were all frozen with no access to funds. All automatic payments and credits were returned causing more financial hardship during a pandemic. It's bad enough Chase decided to end my employment they decided to " stick it to me '' by freezing my accounts so I couldn't care for my husband ( who's recovering from a 60 day stay in the hospital from COVID and requires oxygen around the clock ). I've tried 7 days in a row to come to some sort of agreement with Chase to release my funds on all my account as well as my family members, they would not. Finally I had to remove my name off my husbands business account so his employees could get paid, and we could continue to operate. Not only did they take away my livelihood at Chase they were trying to do it with our businesses. I've tried to work with XXXX XXXX to get things resolved but Chase refuses to budge. Since I was in such distress worry about if my husband was going to die, I provided them exactly what they asked for ... my bank statement from the other financial institution. This still was not enough, the agent from XXXX XXXX told me they want all my statements in 2019 to prove my income. That is not Chase 's job nor is it apart of XXXX 's disclosures to include Chase as a " Third Party Approver ''. XXXX has continued to say that it is illegal for them to provide information about a loan recipient. Chase has cause so much of a financial burden for my family in 7 days, something I feel was done due to retaliation. This is a know issue within Chase, they are targeting everyone that has the XXXX loan and refusing to distribute the funds unless they prove to Chase they are eligible for the loan, this is not something that is required from XXXX. They freeze funds and state it will take 10 days to release the remainder of your funds but instead, they never release them. If you review half of the accounts that are pending closure you will see the funds still sitting idle in the accounts. XXXX makes you sign a promissory note to pay these funds back, however most EIDL recipients did not receive the funds, and Chase has not sent the funds back to XXXX, how is that legal? Chase has yet to release my remaining funds in my account and It's been 9 days with no food, no gas, and no tuition money. How can this bank get away with doing this to people?

Company response to consumer: Closed with explanation