Consumer complaint received 2025-08-24 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Other transaction problem — 
Company: JPMORGAN CHASE & CO.
State: CA

Complaint narrative:
TO : CONSUMER FINANCIAL PROTECTION BUREAU SUBJECT : Improper Restriction and Closure of Account ; Holding ACH CCD Deposit Funds Without Justification CFPB ; I am submitting this complaint regarding the improper restriction and subsequent closure of my personal account by JP Morgan Chase Bank, NA following receipt of an ACH CCD deposit. The deposit was made by an unspecified originator through XXXX XXXX XXXX and intended for my wife. It was correctly routed to my account number, but the name erroneously associated with the entry was that of an unrelated and unknown business entity. Unfortunately, I had also used that name occasionally off record in my contracting business which was closed in XXXX because of Covid 19. This created more confusion as JP Morgan Chase Bank, NA requested me to provide a verified business phone number in order for them to release my funds. I initially tried to reestablish that business name as a business until realizing that this was not a proper resolution after the fact and in reality JP Morgan Chase Bank, NA had no right asking me to restart that business in order to clear their mistake. According to XXXX rules deposits are ruled by account number and the point is moot after the ODFI didnt dispute the deposit or ask for a return to be initiated and JP Morgan Chase Bank XXXX NA didnt file any NOC or even raise any issue until after the time limits for them to do so were expired. 
Despite the deposit being successfully posted and settled and the funds initially being made available for use, JP Morgan Chase NA restricted access to the funds outside of XXXX XXXX CCD rules and time constraints without prior notice or written justification. Ten days after the deposit JPMorgan Chase closed my account entirely. Over 30 days have passed since the initial restriction, and I have received no correspondence, explanation, or documentation regarding the basis for these actions. 
TIMELINE OF EVENTS : XX/XX/XXXX : ACH CCD deposit posted to my account XX/XX/XXXX : JP MORGAN CHASE BANK, NA restricted access to the funds XX/XX/XXXX : JP MORGAN CHASE BANK, NA closed the account without notice or justification XX/XX/XXXX to Present : No communication or documentation provided by XXXX REGULATORY CONCERNS : Violation of XXXX Rules : XXXX are obligated to post XXXX credits based on account number. JP MORGAN CHASE BANK, NA failed to return the entry within the prescribed two-day window and did not file a Notification of Change ( NOC ). No return was requested by the XXXX or the originator of the deposit. 
Improper Account Closure : Closing a consumer account without notice or justificationespecially while holding fundsmay violate consumer protection laws and banking transparency standards Failure to Provide Due Process : I was not given an opportunity to respond, nor provided with any written explanation or dispute resolution pathway Potential Violations of Regulation E and UCC : These actions may contravene federal protections regarding access to deposited funds and fair treatment of account holders REQUESTED RESOLUTION : 1. Immediate release or return of the restricted funds, with full accounting of their disposition 2. Written explanation from the RDFI citing the legal and procedural basis for the account closure and fund restriction and compliance with XXXX rules 3. Review of JP Morgan Chase Bank XXXX NAs internal procedures for ACH handling, account closure, and consumer notification 4. Remediation for any financial harm, stress, or reputational damage caused by these actions SUPPORTING DOCUMENTATION : I am prepared to provide bank statements, a timeline of events, and any correspondence ( or lack thereof ) from JP MORGAN CHASE BANK, NA. 
Thank you for your attention to this matter. I seek resolution and relief in accordance with federal banking regulations and consumer protection standards. 
Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation