Consumer complaint received 2025-05-19 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem with a lender or other company charging your account — Transaction was not authorized
Company: JPMORGAN CHASE & CO.
State: FL

Complaint narrative:
Subject : Chase Bank Illegally Reversed Provisional Credit Enabling Unlicensed, Predatory Lender XXXX XXXX XXXX ) Complaint : I am filing this formal complaint against Chase Bank for knowingly siding with an illegal, unlicensed lender and reversing a rightfully issued provisional credit tied to a void and usurious loan from XXXX XXXX. 

XXXX XXXX issued me a payday loan at a 535 % interest rate, which is far above XXXX legal maximum of 18 %, making the loan criminally usurious, predatory, and void from the start. XXXX law is clear that any contract made in violation of state usury statutes is unenforceable. XXXX XXXX  is not legally authorized to lend in the XXXX XXXX XXXX 

Chase initially issued a provisional credit to correct the fraudulent debits made by this illegal lender. However, despite overwhelming documentation showing that the loan : Violated state and federal law, Was issued by a lender unlicensed to operate in XXXX, Was void from inception, Was closed by the lender after I filed regulatory complaints, Chase has now sent me a letter reversing the credit, claiming the charges were authorized. 

This is false and legally indefensible. An illegal loan is not authorized under the law. It is void ab initio and can not form the basis for any legitimate debt or debit. Chase has been given all relevant documentation, including : The loan agreement showing 535 % XXXX, Formal complaints and case numbers from the CFPB, FTC, and XXXX Attorney General, A letter from XXXX XXXX stating the account has been closed, Evidence that I am pursuing legal action against the lender, A letter from XXXX XXXX attempting to coerce me into signing a waiver of my rights ( which I refused ). 

Chase is now knowingly siding with an illegal, unlicensed, and predatory lender and disregarding clear violations of state law and consumer protections. This is not only unethicalit may make Chase legally liable for enabling and profiting from the actions of a lender under active regulatory scrutiny. 

I am asking the following : That Chase reinstate the provisional credit immediately and in full. 
That Chase cease any cooperation or financial transactions with XXXX XXXX, including any debits tied to this account ( which XXXX XXXX has confirmed is now closed ). 
That the CFPB investigate Chases role in reversing funds tied to a clearly void, illegal loan. 
That Chase be held accountable for its failure to protect a consumer from predatory lending practices in violation of XXXX and federal law. 


Please see the attached supporting documentation, including : The XXXX XXXX loan agreement, Confirmation of account closure, Regulatory complaint filings and case numbers, Communications with Chase. 

I appreciate your attention to this matter and expect enforcement action to ensure Chase is no longer allowed to participate in or profit from illegal lending activity.

Company response to consumer: Closed with explanation