Consumer complaint received 2026-01-13 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Money was not available when promised — 
Company: JPMORGAN CHASE & CO.
State: MI

Complaint narrative:
I serve as Trustee for a XXXX administered through JPMorgan Chase Bank. Since at least XX/XX/XXXX, Chase has withheld XXXX funds in excess of {$500000.00}, despite my full and repeated compliance with every documentation request made by the bank. 

Throughout this period, Chase representatives have repeatedly represented that the matter was approved or escalated, only for those representations to later prove inaccurate or contradicted by other Chase personnel. At no point has Chase provided consistent, reliable, or verifiable information regarding the status of the XXXX or the release of funds. 

Despite multiple written and verbal requests, Chase has failed to provide a written accounting of Trust-related documents received, reviewed, approved, or rejected, or to identify any remaining requirements allegedly preventing release of the funds. A Chase branch XXXX explicitly advised me that the bank was not required to keep that information, and when I raised concerns regarding the lack of transparency and accountability, I was told to sue them. 

I have spent more than XXXX hours attempting to resolve this matter through Chase branch staff, escalation channels, and executive offices. The funds remain inaccessible, preventing me from fulfilling my fiduciary obligation to distribute XXXX assets to the beneficiaries. 

On XX/XX/XXXX, while physically present at a JPMorgan Chase XXXX XXXX, I was advised by XXXX XXXX, Branch XXXX, that the Trust funds had been approved for release and would be transferred within XXXX hours. Relying on this in-person assurance from a Chase branch XXXX, I issued ten distribution checks to the XXXX beneficiaries. That representation proved inaccurate. The distributions could not be completed, and the beneficiaries continue to contact me daily regarding the status of their funds. 

Following the XX/XX/XXXX assurance, I placed at least ten follow-up calls to the Chase branch seeking clarification as to why the XXXX funds were not available as represented. Those calls were not returned, and no explanation or corrective information was provided. This lack of response compounded the original misrepresentation and further delayed resolution. 

Chases conduct constitutes an unreasonable delay, failure to provide required information, and direct interference with my legal duties as Trustee. This prolonged withholding has caused measurable financial harm. Using a conservative 5.0 % annual interest rate, Chases continued retention of approximately {$500000.00} since XX/XX/XXXX has resulted in lost interest of approximately {$11000.00} as of XX/XX/XXXX, with losses continuing to accrue at approximately {$68.00} per day. Chases actions have also exposed me to potential fiduciary liability through no fault of my own. 

In addition to the financial and fiduciary harm, Chases prolonged withholding of XXXX funds, repeated misrepresentations, and failure to communicate have caused significant and ongoing stress and anxiety in my role as Trustee and as the trusted representative responsible for administering my deceased brothers XXXX. 

Chases actions raise serious concerns under applicable federal consumer financial protection standards, including obligations to act without unreasonable delay, to provide accurate and non-misleading information, and to maintain adequate records when administering fiduciary and trust accounts. The repeated misrepresentations, lack of documentation, and prolonged withholding of XXXX funds reflect systemic failures warranting supervisory review and corrective action. 

I respectfully request that the Consumer Financial Protection Bureau require JPMorgan Chase Bank to : Provide a complete written accounting of all Trust-related documents received and their disposition Identify any remaining requirements or deficiencies allegedly preventing release of the Trust funds Immediately release the Trust funds, or provide a lawful, documented basis for continued retention Address the financial harm resulting from Chases prolonged and unjustified withholding of Trust assets This matter has been ongoing for more than XXXX months with no substantive progress, despite extensive and documented efforts on my part to resolve it directly with Chase Bank XXXX 

Thank you for your assistance in compelling transparency, accountability, and timely resolution. 

Sincerely, XXXX XXXX XXXX

Company response to consumer: Closed with explanation