Consumer complaint received 2026-04-21 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: JPMORGAN CHASE & CO.
State: TX

Complaint narrative:
Formal Complaint Against Chase Bank N.A. Premature Charge-Off Reporting & Failure to Correct Inaccurate Credit Reporting Account Number : XXXX ( Last XXXX : XXXX ) Dear CFPB Consumer Response Team : I am filing this formal complaint against JPMorgan Chase Bank N.A . ( Chase ) for ( 1 ) reporting a premature charge-off on my credit card account in violation of federal regulatory guidance, ( 2 ) making a materially misleading oral representation at the time I entered a settlement agreement, and ( 3 ) refusing to correct the inaccurate credit reporting after I submitted a formal written dispute. I am requesting the CFPB investigate this matter and direct Chase to correct its reporting to all consumer reporting agencies. I. BACKGROUND AND CHRONOLOGY OF EVENTS My last regular payment on this Chase credit card account was made on XX/XX/XXXX. On XX/XX/XXXX, I entered into a settlement agreement with Chase and began making settlement payments immediately. I completed all three required successive payments, with the final payment made on XX/XX/XXXX, fully satisfying the settlement. At the time I entered the settlement agreement, a Chase representative specifically told me that my account would appear on credit reports as paid as settled. She did not disclose that Chase would charge off my account after receiving only the first settlement payment, nor did she inform me of any adverse credit reporting consequences tied to the settlement process. Chase reported the account as charged off on XX/XX/XXXX only 127 days after my last regular payment of XX/XX/XXXX. This charge-off occurred while I was actively making payments under the settlement agreement. On XX/XX/XXXX, I submitted a formal written dispute to Chases Executive Office/Customer Advocacy department , specifically citing XXXX XXXX XXXX and requesting correction of the premature charge-off designation. On XX/XX/XXXX, Chase responded with a form letter ( XXXX ) stating that our reporting of your account is accurate and that no updates or corrections are needed. Chase provided no regulatory citation, no policy explanation, and no written justification for deviating from the 180-day charge-off standard, despite my explicit written request for one. II. BASES FOR THIS COMPLAINT A. Violation of OCC XXXX XXXX : Premature Charge-Off OCC Bulletin 2000-20 establishes that national banks are required to charge off open-end credit accounts ( including credit cards ) at 180 days past due, not earlier, unless extraordinary circumstances exist. My account was charged off on XX/XX/XXXX, only 127 days after my last regular payment of XX/XX/XXXX. This is 53 days earlier than the minimum 180-day delinquency threshold required under OCC guidance . Chase has not identified any extraordinary circumstance justifying an early charge-off. In fact, there was no extraordinary circumstance I was actively making settlement payments at the time Chase reported the charge-off. Charging off an account while a consumer is in an active payment arrangement, without disclosure and without regulatory justification, is an unfair and deceptive practice. B. Violation of the Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681s-2 ( b ) Under the FCRA, furnishers of information ( such as Chase ) have a duty to investigate disputes and correct or delete inaccurate information. I provided Chase with a specific, documented dispute citing the exact regulatory basis for inaccuracy. Rather than conducting a meaningful investigation, Chase responded with a boilerplate letter asserting accuracy without substantive analysis, without regulatory citation, and without addressing the 180-day charge-off rule at all. This constitutes a failure to properly investigate and correct inaccurate reporting as required by 15 U.S.C. 1681s-2 ( b ). C. Unfair, Deceptive, or Abusive Act or Practice ( UDAAP ) Under the Dodd-Frank Act Chases conduct constitutes an unfair and deceptive practice under 12 U.S.C. 5531. Specifically : A Chase representative made an oral representation at account settlement that the account would report as paid as settled, without disclosing that a charge-off had already occurred or was imminent. This misrepresentation was material I relied on it when agreeing to the settlement terms. Chase charged off the account prematurely, mid-settlement, causing significant harm to my creditworthiness and credit score. Chases refusal to correct the reporting without even addressing the regulatory argument I raised compounds the deceptive nature of its initial conduct. III. HARM SUFFERED Significant damage to my credit score due to the premature charge-off designation, which is more damaging than a paid as settled notation. Reputational harm and reduced access to credit and financial services. Loss of the benefit of the bargain : I fulfilled my settlement obligations in full and in good faith, yet I did not receive the credit reporting outcome I was led to expect. Time, effort, and expense in pursuing this dispute.

Company response to consumer: Closed with explanation