Consumer complaint received 2020-07-28 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: JPMORGAN CHASE & CO.
State: NV

Complaint narrative:
Chase Bank, routing number:XXXX Victim Name : XXXX XXXX account # XXXX XX/XX/XXXX Chase Bank , after failing the bank stress test, froze the assets in my checking account roughly {$11000.00}. With no notice or input from me. The letter they sent to inform me didn't arrive until XX/XX/XXXX. By that time, I had already been contacted by people who said my funds weren't good. 
XX/XX/XXXX I found out about the account being frozen, I contacted the bank on line, they said that it would be at least a week before anyone looked at the problem, or would contact me. [ they just took all of my money and locked my financial transactions, like bill paying, direct deposit etc ... and they're too busy to remedy this issue? ] I also called the 1 ( 800 ) number and the hold times are over an hour. I waited 50 minutes without speaking to anyone. I called my local branch and the Branch Manager confirmed the issue, but said that he had no one to contact directly. He also has to wait over an hour on hold to speak with someone. ( Wait, the large XXXX  XXXX  has billions of dollars of customer deposits and no one can contact them directly? Not even the Branch Manager ). 
XX/XX/XXXX I spent 1 1/2 hours on hold to speak to someone on the 1 ( 800 ) number. I spoke to someone there that said it was due to " Fraud Prevention '' because I received my EIDL loan for {$14000.00}. FYI : I have been a customer there, with that same account number for over 15 years! They know me!

The EIDL loan was directly from SBA and not written or funded by Chase Bank, it came from the treasury. It's not their problem, nor concern. 
The disbursements from the account were all to creditors that I have on line payments arranged for years at the same bank ... nothing different going on. Except, that I was spending the money to pay down account balances XXXX, XXXX XXXX, and Chase credit cards. 
I am a gig worker, and I sent them copies of the loan documents, my SBA account information, Secretary of State Business License that I have had since XXXX, and all email coorespondence with the SBA regarding the loan. 
XX/XX/XXXX I called and waited again, with no luck. I had also emailed all of the documents via the web portal. The 800 number had me go to the bank branch to have the Branch Manager upload them directly XX/XX/XXXX I also emailed again, and I called and waited on hold, with no luck. I contacted my branch manager who acknowledged that THEY KNEW IT WASN'T FRAUD, BUT THEY WERE NOT RELEASING THE FUNDS. Their complaint was that the business license expired in XX/XX/XXXX. THAT ISN'T IN THE BANK 'S PURVIEW. I am out of work, and the Government shut down has allowed a grace period of 90 days after they reopen. They have not reopened. 
XX/XX/XXXX I did go to the Secretary of State 's site and updated my license anyway. I uploaded them and had the branch manager upload them directly .... STILL NOTHING. I emailed, and nothing, I called the branch manager, and nothing. I also gave them a formal demand letter. Directly served through the branch manager and uploaded through their web portal NOTHING! THAT WAS 12 DAYS AGO! 
XX/XX/XXXX My credit rating is taking a hit, I don't have any money, I can't pay any bills, my direct deposit would just hand them more money to hold as " FRAUD PREVENTION ''. 

In XXXX XXXX did this same thing and held XXXX of my money for 6 months. To protect them from me going out of business '' Meanwhile they bought up competitors and ancillary businesses during the recession, with my money! I am not sitting this fight out. I am going after Chase Bank and will pursue them until this is remedied. This has cost me time, money, reputation, health and so much more ... Chase did it! But they act like they are to busy to address it. That is NOT the case. They don't WANT to address it ; because they will have to let me pull my funds out of their bank. There is a class action lawsuit coming over this and all the other XXXX  workers out there going through the same. Chase is also excluding us from being able to submit for PPP loans, unless we have one of their premium accounts before the crisis. THIS IS DISCRIMINATION!!

Company response to consumer: Closed with explanation