Consumer complaint received 2025-01-18 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Problem caused by your funds being low — Late or other fees
Company: JPMORGAN CHASE & CO.
State: CA

Complaint narrative:
Dear CFPB, I am writing to formally lodge a complaint against Chase Bank regarding their improper handling of XXXX XXXX XXXX  Account, including the wrongful collection of service fees that should have been exempt under their policies. This conduct not only violates the trust placed in financial institutions but also unfairly penalizes a XXXX XXXX who relies on these funds for their livelihood. 

Background In XX/XX/XXXX, I opened XXXX XXXX XXXX Account at Chase Banks XXXX branch to manage the benefits of a XXXX XXXX XXXXXXXX XXXX for whom I serve as a XXXX. At the time of account setup, I was informed by Chase Bank staff that XXXX XXXXXXXX Accounts were not exempt from service fees and would incur a $ XXXX  monthly service fee. 

Subsequently, Chase Bank charged a total of XXXX service fees of {$25.00} each, amounting to {$600.00}, from XX/XX/XXXX to XX/XX/XXXX. Recently, I learned that Chase Banks policy explicitly exempts XXXX XXXXXXXX Accounts from service fees. Upon discovering this, I visited Chase Bank with the XXXX  to request a full reimbursement of all improperly charged fees. 

Issues with Chase Banks Response Limited System Visibility : Chase Bank staff informed me that their system only retains transaction data from XX/XX/XXXX onward and that they were unable to view or verify fees charged prior to this date. 
Partial Reimbursement Policy : Chase Bank agreed to reimburse fees for the past XXXX months ( from XX/XX/XXXX to XX/XX/XXXX ) but refused to address the additional XXXX months of fees charged from XX/XX/XXXX to XX/XX/XXXX. 
This refusal is unacceptable, as the improperly charged fees total {$600.00}, of which only {$300.00} has been acknowledged for reimbursement. 
Impact on a XXXXXXXX XXXX  : The funds in this account are critical for the XXXX  well-being and daily living expenses. Improperly withholding these funds deprives the XXXX of resources meant for essential needs, which were provided by the government to ensure their quality of life. 
Legal and Ethical Concerns Chase Banks actions raise serious concerns about compliance and fairness : Unfair and Deceptive Practices : Charging service fees on a XXXX XXXX  Account, which Chase policy exempts, constitutes an unfair and deceptive practice under 12 U.S.C. 5531. 
Breach of XXXX  Responsibility : Financial institutions have a fiduciary duty to handle funds in XXXX XXXXXXXX Accounts with integrity. Chase Banks refusal to fully reimburse the fees improperly charged undermines this responsibility. 
Failure to Provide Accurate and Transparent Records : Chase Banks claim that their system can not retrieve transaction data prior to XX/XX/XXXX raises concerns about record retention and transparency, especially for fiduciary accounts involving vulnerable veterans. 
Negative Impact on Vulnerable Populations : By failing to promptly and fully reimburse these fees, Chase Bank disproportionately harms a XXXXXXXX XXXX who depends on these funds for survival. 
Request for Action I respectfully request that the CFPB investigate Chase Banks handling of this matter and ensure the following corrective actions are taken : Full Reimbursement : Require Chase Bank to reimburse the remaining {$300.00} in service fees improperly charged between XX/XX/XXXX and XX/XX/XXXX. 
Policy Compliance : Ensure that Chase Bank adheres to its stated policies regarding XXXX XXXXXXXX XXXX and trains its employees to prevent similar issues in the future. 
Improved Record Retention : Mandate that Chase Bank maintain accessible records for all transactions, especially for fiduciary accounts, to ensure transparency and accountability. 
Compensation for Harm : Consider additional remedies to address the undue stress and inconvenience caused to the XXXX XXXX XXXX by Chase Banks actions. 
The funds in this account are intended to support the health and well-being of a XXXXXXXX XXXX It is unjust for these funds to be improperly withheld or delayed due to Chase Banks errors. Thank you for your attention to this matter. I am happy to provide additional documentation to assist with your investigation. 

Sincerely,

Company response to consumer: Closed with monetary relief