Consumer complaint received 2025-08-21 00:00:00
Product: Checking or savings account — Checking account
Issue: Opening an account — Unable to open an account
Company: JPMORGAN CHASE & CO.
State: IL

Complaint narrative:
To Whom It May Concern, I am in receipt of your recent response regarding the denial of my application to open a Private Trust Account under XXXX XXXX XXXX. After reviewing your reply, I must respectfully rebut and demand correction based on the following : 1. Governing Law & Recognition of Common Law Trusts You state the denial was due to my trust documents not having a governing state, and because the trust is formed under common law. This reasoning is flawed. A common law trust ( or contract trust ) is a legally recognized entity under long-standing case law, including XXXXXXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX  ), which confirmed the legal existence of such trusts. Trusts established under common law are valid so long as they meet the criteria of intent, res ( property ), trustee, and beneficiary. 

The Constitution of the United States, Article I, Section 10, protects the obligation of contracts, and therefore private common law trusts are enforceable and binding. No statute requires a common law trust to elect a governing state for validity.

2. Equal Credit Opportunity Act ( ECOA ) & Fair Credit Reporting Act ( FCRA ) You deny any violation of the ECOA or FCRA. However, denying an otherwise valid trust based on its common law foundation creates a discriminatory barrier not applied equally to other lawful trusts, and constitutes unfair and arbitrary denial under ECOA standards. If Chase permits statutory trusts but refuses common law trusts, this is discriminatory treatment against a lawful trust form.

Additionally, your internal procedures can not override federally protected rights to contract and maintain trust entities recognized under law. 



3. Know Your Customer ( KYC ) and Deposit Agreement Your letter references Know Your Customer requirements and the Deposit Account Agreement ( DAA ). I provided valid and sufficient documentation establishing the trust, its beneficiary, and trusteeship. The refusal is therefore not based on lack of information but on Chases internal unwillingness to recognize a lawful entity. Such refusal could be construed as bad faith denial of service and breach of public trust obligations under federal banking law.

4. Demand for Reconsideration I demand that Chase reconsider its denial and open the trust account, or provide in writing : 1. The exact statutory authority that prohibits Chase from opening a common law trust account.
2. The specific federal or state law that requires a trust to be governed under statutory law in order to access banking services.

3. The internal policy provisions relied upon in the denial, with regulatory citations.

5. Notice of Further Action Failure to provide lawful justification or to honor the trust account application will result in escalation of this matter to the Office of the Comptroller of the Currency ( OCC ), the Consumer Financial Protection Bureau ( CFPB ), and other relevant agencies for investigation of discriminatory practices and denial of lawful banking access. 



Respectfully submitted, XXXX XXXX XXXX XXXX / Secured Party Creditor Living Man under Private Common Law XXXX XXXX XXXX

Company response to consumer: Closed with explanation