Consumer complaint received 2025-01-06 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem using a debit or ATM card
Company: JPMORGAN CHASE & CO.
State: FL

Complaint narrative:
Dear CFPB, I am submitting a formal complaint against Chase Bank for their mishandling of my fraud claim regarding unauthorized transactions totaling {$3000.00}. These charges occurred on XX/XX/year>, after my device was stolen and fraudulent transactions were made through XXXX XXXX. Despite my timely report and Chase 's initial assurance of a provisional credit within 1-2 business days, the claim was inexplicably closed on XX/XX/year>, without resolution and without issuing a provisional credit as required by Regulation E.

Chase Banks response has left me in financial distress and has caused significant emotional hardship. I believe their actions constitute a clear violation of Regulation E and the Electronic Fund Transfer Act ( EFTA ), which are designed to protect consumers in situations like mine.

Background of the Claim Incident Details : My device was stolen, and unauthorized charges totaling {$3000.00} were made through XXXX XXXX. 
I promptly reported these transactions to Chase Bank on XX/XX/year>, in compliance with the requirements of Regulation E.

Chase Banks Actions : I was informed that a provisional credit would be issued within hours or 1-2 business days. 
Instead, my claim was closed on XX/XX/year>, without explanation or resolution, and no provisional credit was provided.

Financial and Emotional Impact : The loss of {$3000.00} has caused severe financial strain, leaving me unable to meet critical obligations. 
The lack of transparency and accountability in Chase Banks process has added unnecessary emotional distress. 
Violations of Regulation E Chase Banks actions violate multiple provisions of Regulation E, specifically : Provisional Credit Requirement ( Section 1005.11 ( c ) ( 2 ) ) : Regulation E requires financial institutions to issue a provisional credit if an investigation can not be completed within 10 business days. Chase Bank failed to comply, even though the investigation was closed prematurely within just three days.

Investigation Standards ( Section 1005.11 ( c ) ( 1 ) ) : Financial institutions must conduct a reasonable investigation before determining a claims outcome. Given the expedited closure of my claim within three days, Chase Bank could not have conducted a thorough review of transaction details, device data, or geographic information. 
Consumer Liability Limits ( Section 1005.6 ( b ) ) : I fulfilled my responsibility by reporting the fraudulent transactions promptly. As a consumer, I am protected from liability for these unauthorized transactions, yet Chase has held me financially responsible.

Flawed Investigation The expedited closure of my claim and Chase Banks refusal to issue a provisional credit indicate that their investigation was incomplete and insufficient. I believe Chase Bank failed to consider key evidence, including : Device and geographic data to verify whether the transactions matched my typical activity. 
The fact that my device was stolen, making it impossible for me to have authorized these transactions. 
Any documentation or context I provided during the claim process. 
Requested Actions Transparency in the Claim Process : Chase Bank must provide a written explanation detailing how they determined the transactions were authorized and why my claim was closed so quickly. 
Assurance of Future Compliance : Chase Bank must review and update their procedures to ensure all fraud claims are handled in compliance with Regulation E and EFTA.

Conclusion Chase Banks mishandling of my claim has caused unnecessary financial harm and emotional distress, and their actions undermine the consumer protections guaranteed under federal law. I trust that the CFPB will take appropriate action to hold Chase Bank accountable and ensure a fair resolution to this matter. 
Please let me know if additional information or documentation is required. I am attaching evidence to support my complaint, including correspondence with Chase Bank and details of the unauthorized transactions. 
Thank you for your attention to this matter.

Company response to consumer: Closed with explanation