Consumer complaint received 2022-02-03
Product: Credit card or prepaid card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Other problem
Company: JPMORGAN CHASE & CO. (IL)

My legal name has been changed, and most of the credit card companies have been willing to change the information on my accounts by faxing them documentation. Unfortunately, Chase bank hasn't been willing to do so and that's causing significant harm to me. At present, the fact that they continue to knowingly report the wrong name on my credit report has caused me significant harm because it is preventing me from getting any new credit anywhere as a result of a name discrepency in my credit profile. It's also resulted in some of my accounts that report the new name as being a co-borrower with the old name due to the old name and new name being reported at the same time by different companies. 

Over the phone Chase said that in addition to the standard documents that prove my current name I would ALSO need to send them a completed form, but they can only provide that via mail. It's not available on their website anywhere. When I complained that I have issues with getting all of my mail because there is more than one of my address in the region they said I could go to one of their branch locations. So, I drove half an hour away with all the documentation only to learn that they can't do it in person because the employees also don't have access to this form. They were, however, able to provide me with a copy of a similar form that is used in another account type, but asks for the same information. So I filled it out and submitted it online along with my documentation. 

Unfortunately, they aren't willing to accept that and to this date I have never received any form in the mail and they are unwilling to update my information until both I get this form in the mail and they receive this form despite the fact that this form just asks for the same information as every other form. 

Now, at issue here is KYC compliance. Attached is a copy of the law and supplementary material : Per 2090. Know Your Customer : '' Every member shall use reasonable diligence, in regard to the opening and maintenance of every account, to know ( and retain ) the essential facts concerning every customer and concerning the authority of each person acting on behalf of such customer. '' Supplementary Material : -- -- -- -- -- -- -- XXXX Essential Facts. For purposes of this Rule, facts " essential '' to " knowing the customer '' are those required to ( a ) effectively service the customer 's account, ( b ) act in accordance with any special handling instructions for the account, ( c ) understand the authority of each person acting on behalf of the customer, and ( d ) comply with applicable laws, regulations, and rules. 

... 

If no one else in the industry requires a magical form unique to every single account type it's not an essential document. And if I have sent them all of the essential documents, but they continue to refuse to update my name, well, that's a KYC violation because once they received all the documentation that's considered essential and they still refuse to comply because of their own internal rules, well, that's a problem they need to fix.