Consumer complaint received 2024-10-12 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Credit denial
Company: JPMORGAN CHASE & CO.
State: WI

Complaint narrative:
On XX/XX/XXXXXXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX in XXXX, Wisconsin submitted two completed credit applications to Chase Bank on my behalf in the amounts of {$98000.00} and {$68000.00}. After accepting all the information necessary to determine creditworthiness, Chase Bank declined to transfer the free credit balances from the broker to finance my retail purchase from XXXX XXXX XXXXXXXX XXXX XXXXXXXX. I sent letters to contest the denial of which Chase Bank has not responded. I believe these denials violate 1002.6 of the Equal Credit Opportunity Act, which pertains to the rules concerning the evaluation of applications. 
According to 1002.6 ( a ), a creditor may consider any information obtained in evaluating an application, provided that this information is not used to discriminate against an applicant on a prohibited basis. The legislative history of the Act emphasizes the importance of an effects test. This concept, established by the Supreme Court in landmark cases such as XXXX XXXX XXXX XXXX XXXX and XXXX XXXX XXXX XXXX XXXX, underscores the need for fair and unbiased credit evaluations. 
Chase Bank specifically states that my credit history was used in their decision to decline credit, as quoted on both denial letters they sent to me : Or credit decision was based in whole or in part on the information obtained in a report from the consumer reporting agency listed below [ XXXX ] ... we obtained your credit score from the consumer reporting agency listed on the first page of this letter and used it in making our credit decision. 
Part 1002.6 of the Act continues : ( b ) Specific rules concerning use of information. 
( 1 ) Except as provided in the Act and this part, a creditor shall not take a prohibited basis into account in any system of evaluating the creditworthiness of applicants.

6 ) Credit history. To the extent that a creditor considers credit history in evaluating the creditworthiness of similarly qualified applicants for a similar type and amount of credit, in evaluating an applicant 's creditworthiness a creditor shall consider : ( i ) The credit history, when available, of accounts designated as accounts that the applicant and the applicant 's spouse are permitted to use or for which both are contractually liable ; ( ii ) On the applicant 's request, any information the applicant may present that tends to indicate the credit history being considered by the creditor does not accurately reflect the applicant 's creditworthiness; and ( iii ) On the applicant 's request, the credit history, when available, of any account reported in the name of the applicant 's spouse or former spouse that the applicant can demonstrate accurately reflects the applicant 's creditworthiness. 
The law allows for Chase Bank to use my credit history to determine creditworthiness, but it prohibits discrimination. Therefore, denial of credit due to information obtained from my credit report is prohibited by law and a violation of my rights to equal credit.

Company response to consumer: Closed with explanation