Consumer complaint received 2024-10-24
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Credit denial
Company: JPMORGAN CHASE & CO. (MI)

To the Consumer Financial Protection Bureau : This complaint concerns Chase Auto Finance 's deliberate violations of my rights under multiple federal laws, including the Fair Credit Reporting Act ( FCRA ), Equal Credit Opportunity Act ( ECOA ), and Truth in Lending Act ( TILA ). Chase has engaged in egregious and deceptive practices, including unauthorized credit inquiries and inadequate disclosures, violating my right to privacy and consumer protections. I demand immediate action, compensation, and punitive sanctions against Chase to ensure this type of misconduct does not persist.

1. Deceptive Pre-Screening : Bait-and-Switch Tactic Chase 's Just For You pre-screening offer was a fraudulent bait-and-switch that enticed me into applying for an auto loan under false pretenses. The language used in the pre-screening offer falsely led me to believe I was pre-approved for a loan, only for Chase to later deny my application. This deceptive practice, which wasted my time and damaged my credit score, demonstrates a clear violation of consumer trust.

Chase 's failure to honor the reasonable expectation they set through their deceptive pre-screening process is fraudulent, and I demand that the CFPB impose severe sanctions to prevent this manipulative behavior in the future. 

XXXX. Unauthorized Credit Inquiry : A Gross Violation of Privacy Chase 's actions show complete disregard for my privacy rights. By pulling my credit report without providing me with a clear and conspicuous opt-out option, and failing to inform me of the specific terms before conducting the inquiry, Chase has violated FCRA 604 ( a ), which governs permissible purposes for obtaining a consumer report.

The right to privacy is fundamental, and Chases unauthorized inquiries into my credit history are a clear violation of my rights. Under FCRA 616 and 617, I am entitled to statutory damages of {$1000.00} per violation. Given the multiple unauthorized inquiries Chase made on my credit report, I demand full compensation for each of these breaches of my privacy. 

XXXX. Lack of Transparency and Disclosure : Intentional Concealment Chase 's lending practices are not just opaquethey are deliberately deceptive. The application process failed to disclose any minimum credit score requirements or clearly explain the criteria for loan approval. This lack of transparency violates TILA 1026.17, which mandates clear and conspicuous disclosures in all consumer credit transactions.

Chase has created an application process designed to lure consumers into applying for credit without the necessary qualifications being known upfront. Their systemic failure to disclose critical lending terms is an intentional strategy to trap consumers in a cycle of unnecessary credit inquiries, which harms their creditworthiness. This is a direct violation of TILA and must be met with harsh penalties.

4. Baseless Denial of Discrimination : A History of Bias Chases attempt to brush aside my concerns about discrimination is both offensive and deeply flawed. Chase has a well-documented history of discriminatory lending practices, disproportionately denying XXXX consumersincluding teachers, doctors, and other professionalsthe same credit approvals granted to white applicants with similar profiles. As a XXXX man and a Chase customer for nearly three years, I have experienced firsthand how Chase perpetuates systemic bias. 

Their hollow denial of these discriminatory practices is an insult to both my experience and the experiences of countless XXXX consumers who have suffered under Chases biased lending practices. The CFPB should conduct a thorough investigation into Chases discriminatory practices and hold them accountable under ECOA and Regulation B, which prohibit discrimination in any aspect of a credit transaction.

5. Unsatisfactory and Deceitful Response : An Insult to My Intelligence Chase 's response to my initial complaint was not only inadequate, it was deceitful and dismissive. Instead of acknowledging their violations, Chase attempted to deflect responsibility with misleading statements and outright falsehoods. Their refusal to remove unauthorized credit inquiries and correct their predatory behavior is unacceptable.

Their response is a clear violation of FCRA 611, which mandates that furnishers of information to credit bureaus investigate and correct errors. I am entitled to {$1000.00} per violation, and Chase must be held accountable for each unauthorized inquiry made on my credit file.