Consumer complaint received 2023-12-12
Product: Credit card — General-purpose credit card or charge card
Issue: Problem when making payments — Problem during payment process
Company: JPMORGAN CHASE & CO. (AZ)

Dear Sir/Madam, I am writing to formally file a complaint with the Consumer Financial Protection Bureau ( CFPB ) regarding a serious issue involving JPMorgan Chase & Co. , which has raised significant concerns related to potential violations of the Uniform Commercial Code ( UCC ), Securities and Exchange Commission ( SEC ) regulations, Financial Industry Regulatory Authority ( FINRA ) regulations, and allegations of securities fraud.

Commission file number XXXX Delaware ( State or other jurisdiction of incorporation or organization ) XXXX XXXX XXXX , XXXX XXXX , New York ( Address of principal executive offices ) XXXX ( I.R.S. employer identification no. ) XXXX ( Zip Code ) Registrants telephone number, including area code : ( XXXX ) XXXX The details of my complaint are as follows : Payment Instruments Submitted : On XX/XX/2023, and XX/XX/2023, I sent two separate negotiable instruments for payment to JPMorgan Chase & Co. in full compliance with legal tender guidelines. Both instruments were restrictively endorsed to the company, accompanied by specific processing instructions as prescribed by 31 CFR 328.5-6. These instruments were sent via registered mail with tracking numbers XXXX and XXXX. 
Company 's Response and Actions : Regrettably, JPMorgan Chase & Co. has neither applied the payments to the account nor returned the negotiable instruments, both of which are mandated by law. In addition, despite my attempts to address this matter, the company has continued to contact me for payment, which is both unwarranted and unsettling. 
Adverse Action on Consumer Credit : Adding to my concerns, JPMorgan Chase & Co. has taken adverse action against my consumer credit, which, to the best of my knowledge of applicable laws and regulations, they may not have the authority to do.

UCC Title 3 Violation : In accordance with the Uniform Commercial Code, Title 3, the non-application of payment in a timely manner constitutes a breach of contract. Consequently, the debt should be considered discharged, and my consumer credit should have been updated to reflect " paid as agreed. '' Allegations of Securities Fraud : I strongly suspect that JPMorgan Chase & Co. may have improperly retained the security interest for themselves, potentially giving rise to allegations of securities fraud. Such actions, if proven true, raise significant concerns about the company 's ethical conduct and compliance with federal regulations and securities laws. 

The company has a published XXXX annual filing and indenture agreement that both describe securities how they are sold and the rights to holders of the note. 

Given the gravity of this situation and the potential violations of consumer protection laws, federal regulations, and securities laws, I believe it is imperative that other relevant regulatory bodies be involved in investigating and addressing this matter. Specifically, the Federal Trade Commission ( FTC ), Securities and Exchange Commission ( SEC ), Financial Industry Regulatory Authority ( FINRA ), and Internal Revenue Service ( IRS ) may need to take action to ensure that consumer rights are safeguarded and any alleged misconduct is thoroughly examined.

Despite my attempts to communicate with JPMorgan Chase & Co. and my requests for the application of payment or the return of the instruments, the company has not responded or addressed this matter as of the date of this complaint.

I respectfully request that the CFPB initiates a comprehensive investigation into this matter involving JPMorgan Chase & Co. to determine whether the company has violated any federal regulations, consumer protection laws, or securities laws. Additionally, I urge the CFPB to collaborate with the aforementioned regulatory bodies, including the FTC, SEC, FINRA, and IRS, to ensure a thorough examination of this matter. 

Thank you for your prompt attention to this serious issue, and I anticipate a timely resolution to protect consumer rights. 

Sincerely, XXXX XXXX XXXX