Consumer complaint received 2024-08-15
Product: Checking or savings account — Checking account
Issue: Problem caused by your funds being low — Late or other fees
Company: JPMORGAN CHASE & CO. (FL)

Cfpb take note of this complaint XXXX XXXX XXXX XXXX XXXX XXXX XXXX, Fl, XXXX XXXX XXXX XX/XX/year> Consumer Financial Protection Bureau ( CFPB ) XXXX XXXX XXXX XXXX, IA XXXX Office of the Comptroller of the Currency ( XXXX ) XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, TX XXXX XXXX : Urgent Request for Intervention and Enforcement Failure of JPMorgan Chase Bank , N.A . to Comply with Regulation E Requirements and Provide Provisional Credit Claim Number : XXXX Dear Sir/Madam, I am writing to urgently request your immediate intervention regarding JPMorgan Chase Bank , N.A . ( " Chase '' ) and their repeated failure to comply with federal regulations, specifically Regulation E of the Electronic Fund Transfer Act ( EFTA ), in handling my claim concerning unauthorized transactions on my account ending in XXXX. 
Summary of the XXXX : On XXXX XXXX, 2024, my account was compromised, and unauthorized transactions totaling {$1500.00} were processed through the merchant XXXX. Upon discovering these fraudulent charges, I promptly filed a claim with Chase on XXXX XXXX, 2024. 
Despite the clear evidence of fraud, Chase closed my claim within less than XXXX hours on XXXX XXXX, 2024, without providing the required provisional credit or conducting a thorough investigation. After escalating the matter and providing substantial documentation, including proof from XXXX confirming the suspension of the account associated with the unauthorized transactions due to fraudulent activity, Chase reopened my claim. However, Chase has now closed my claim for a second time without any adjustment to my account. 
Violations and Failures by Chase : Repeated Failure to Provide Provisional Credit : Under Regulation E, Chase is legally obligated to issue a provisional credit to my account within XXXX  business days if the investigation into the unauthorized transactions can not be conclusively resolved within that period. Chase has failed to comply with this requirement on XXXX separate occasions, leaving me without access to the funds necessary to meet my financial obligations.

Inadequate and Negligent Investigations : Chase initially closed my claim in less than XXXX hours and has now closed it again despite substantial evidence proving the fraudulent nature of these transactions. This pattern demonstrates a clear failure by Chase to conduct the thorough and impartial investigation required by law. 
Ignoring Critical Evidence : I provided documentation from XXXX, the merchant involved, confirming that they suspended the account linked to these transactions due to potential fraud. Despite this critical piece of evidence, Chase has disregarded the information and proceeded to close my claim without justification. 
Neglecting Red Flags of Fraud : Prior to receiving confirmation from XXXX, I made over XXXX attempts to contact the merchant without success. This lack of responsiveness is a clear indicator of fraudulent activity, yet Chase has failed to account for this in their investigation. 
Urgent Request for CFPB and XXXX Intervention : Given Chases ongoing violations of federal regulations and their failure to protect my rights as a consumer, I urgently request the following actions be taken by the CFPB and XXXX : Immediate Enforcement of Provisional Credit : I request that you compel Chase to immediately issue a provisional credit of {$1500.00} to my account, as required by Regulation E. This credit is essential to mitigate the ongoing financial harm I am experiencing due to Chases negligence. 
Mandate a Comprehensive Reinvestigation : I ask that you require Chase to reopen my claim and conduct a full, impartial investigation that considers all the evidence I have provided, including the documentation from XXXX confirming the fraudulent nature of the transactions. 
Formal Review and Penalties : I request that the CFPB and XXXX conduct a formal review of Chases practices in handling claims of unauthorized transactions. Given the repeated failures in my case, I believe there may be systemic issues that warrant further investigation and potential penalties. 
Immediate Correction and Remediation : Chase must be directed to provide a written acknowledgment of their failures in handling my claim and take corrective actions to prevent such occurrences in the future. This should include enhanced procedures for investigating claims and ensuring compliance with federal regulations. 
Consequences of Inaction : If immediate action is not taken to address this situation, I will be forced to pursue further legal remedies to enforce my rights under federal law. I trust that the CFPB and XXXX will recognize the seriousness of these violations and take swift action to hold Chase accountable for their obligations to me as a consumer. 
Thank you for your prompt attention to this matter. I look forward to receiving confirmation of the actions that will be taken to rectify this situation. 
Sincerely, XXXX