Consumer complaint received 2025-11-26 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem caused by your funds being low — Overdrafts and overdraft fees
Company: JPMORGAN CHASE & CO.
State: NY

Complaint narrative:
I am writing to file a formal complaint regarding a pattern of unfair and excessive overdraft fees applied to my familys trust account with Chase Bank. 

On XX/XX/year>, a {$62.00} XXXX purchase temporarily overdrafted the account, and Chase immediately charged a {$34.00} overdraft fee. The very next day, XX/XX/year>. XXXX issued a full credit for that purchase back to the account, completely offsetting the transaction that caused the overdraft. Despite that prompt refund, Chase has refused to remove the {$34.00} overdraft fee even though there was no lasting negative balance and no actual overdraft exposure for the bank. 

Then, on XX/XX/year>, a separate transaction for {$18.00} posted to the account. Because the prior {$34.00} overdraft fee had pushed the account into the negative, Chase again charged an additional {$34.00} overdraft fee on that {$18.00} purchase. In effect, Chase created the overdraft condition through its own unjustified fee, then charged me again for it. This cycle of self-generated
fees is unfair, deceptive, and abusive under the DoddFrank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5531 ), which prohibits financial institutions from engaging in practices that take unreasonable advantage of consumers. These actions appear to constitute unjust enrichment, as Chase profits from temporary or nonexistent overdrafts by imposing fees that far exceed the transaction amounts. Consumers deposit their money in good faith, yet Chases policies convert momentary accounting fluctuations into repeated penalties. This is, in essence, a form of financial racketeering against everyday customers, generating revenue from fees on transactions that never represented real losses or risks to the bank.

Furthermore, I request Chase provide copies of all IRS information returns filed under my name or the family trust associated with this account, specifically : Form 1099-A ( Acquisition or Abandonment of Secured Property ) Form 1099-B ( Proceeds from XXXX XXXX XXXX XXXX  Transactions ) Form 1099-OID ( Original Issue Discount ) As the account holder and trustee, I am entitled to copies of any such forms submitted to the IRS under my identifying information. I have reason to believe that Chase may be reporting customer funds as gifts or other income, which, if true, would be inaccurate and misleading. Our deposits are not gifts to Chase, they represent funds held in trust, for which Chase is the custodian and fiduciary.

I respectfully request : 1. Immediate reversal and refund of both {$34.00} overdraft fees charged on XX/XX/year> and XX/XX/year>. 
2. A written explanation of Chases overdraft policy, particularly regarding transactions that are refunded within 24 hours.

3. Copies of any IRS Forms 1099-A, 1099-B, or 1099-OID filed in connection with my account.

4. An internal review of Chases overdraft fee practices and reporting to the CFPB regarding the frequency of such fee assessments on refunded transactions.

Company response to consumer: Closed with monetary relief