Consumer complaint received 2025-06-19 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Advertising and marketing, including promotional offers — Confusing or misleading advertising about the credit card
Company: JPMORGAN CHASE & CO.
State: GA

Complaint narrative:
To the Consumer Financial Protection Bureau, I am filing a formal complaint against JPMorgan Chase Bank , N.A . ( JPMCB ) for engaging in deceptive, unfair, and unauthorized practices involving the securitization and sale of my consumer credit card receivablewithout my informed consent, full disclosure, or legal clarity. 

After approving me for a credit card, JPMCB created a receivable ( the balance I owed ) and transferred it into a trust structure such as Chase Issuance Trust, which then issued asset-backed securities ( ABS ) backed by my obligation. These securities were sold to investors and traded on global secondary markets, all while I was left completely uninformed. 

Despite monetizing my receivable and no longer holding the beneficial ownership, JPMCB continues to act as if it owns my accountreporting it to the credit bureaus and collecting payments. This dual role is deceptive : JPMCB earns investor proceeds by selling my account and simultaneously pursues me for payment without acknowledging the securitization. 

I was never notified that : My financial obligation would be pooled and securitized, My receivable would be used to create and sell investment-grade securities, JPMCB would profit from the sale while still reporting and enforcing the account as a creditor. 

These actions are misleading, harmful, and illegal, and they violate multiple consumer protection laws : Violations : Truth in Lending Act ( TILA ), 15 U.S.C. 1601 et seq.

JPMCB failed to disclose material facts regarding the true creditor and securitization of the account.

Violates 1637 ( a ) ( 6 ) and 1639 ( b ).

Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681 et seq.

JPMCB may be reporting account information without having legal ownership or standing.

Violates 1681s-2 ( b ) and 1681e ( b ).

Gramm-Leach-Bliley Act ( GLBA ), 15 U.S.C. 68016809 ; 12 C.F.R. 1016 ( Reg P ) JPMCB shared my private financial data with third-party trusts and investors without providing the opt-out rights required by law.

Consumer Financial Protection Act ( CFPA ), 12 U.S.C. 55315536 These acts constitute Unfair, Deceptive, or Abusive Acts or Practices ( UDAAP ).

JPMCB concealed the securitization of my obligation and misrepresented their ownership interest.

Uniform Commercial Code ( UCC ) UCC 3-301 : Only a holder in due course can enforce the obligationJPMCB may lack standing.

UCC 9-210 : No accounting or assignment records were disclosed to me.

UCC 9-404 : The assignee ( trust ) is subject to consumer defenses, yet was never disclosed.

Due Process Clause ( 5th & 14th Amendments of U.S. Constitution ) I was denied a fair opportunity to dispute or understand how my obligation was altered. 

Key Evidence : A JPMCB Prospectus Supplement ( SEC XXXX Filing ) confirms that consumer receivablesincluding mineare being packaged into securities and sold to investors, all without informing the originating consumer. This is strong evidence that JPMCB is engaging in systemic nondisclosure and financial misrepresentation. 

Requested Resolution : I respectfully request the CFPB to : Investigate JPMCB for deceptive, unfair, and unauthorized securitization of consumer accounts ; Require full disclosure to consumers whose credit card accounts have been securitized or transferred into trusts ; Order the deletion of negative credit reporting where JPMCB no longer owns the account ; Prohibit collection activity on receivables that have been sold or securitized without consumer consent ; Award compensation for financial harm, credit damage, emotional distress, and privacy violations ; Refer JPMCB for criminal or regulatory enforcement where applicable.

Company response to consumer: Closed with explanation