Consumer complaint received 2025-11-22 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: JPMORGAN CHASE & CO.
State: CA

Complaint narrative:
Unprompted closure notice At XXXX XXXX PST on XX/XX/year>, I received a text message from Chase stating they needed additional information from me and that my accounts were in danger of being closed. 

Phone call and Chases refusal to provide information I immediately called Chase at XXXX XXXX PST. I spoke to a representative named XXXX. After verifying my identity and account, he informed me : My business account ( XXXX XXXX XXXX XXXX ) was already being closed. 

My personal account was also going to be closed. 

He said he could not provide any reason other than that Chase was protecting the financial institution, citing vague references to their Terms of Service. 

He acknowledged that my business receives payments from XXXX and XXXX XXXX but refused to explain how that violated any Chase policy. 

About my business ( context for CFPB ) : My business has been operating legally for three years. 

It is a registered LLC in the United States. 

It files taxes annually and maintains proper accounting records. 

It operates in the crypto and blockchain sector, which is legal and fully reported for tax purposes. 

Having traditional banking access is necessary because crypto is a single-sided asset, and my business needs cash flow and fiat on-ramps to function. 

Refusal to provide account statements or balances I asked XXXX for copies of my account statements and balances, because I could no longer access my online banking. 

He said he would not and could not provide them. 

He told me to physically visit a branch and ask a bank manager instead. 

This is unreasonable because Chase is the one who initiated the closure and restricted access without warning. 

Funds currently held/ frozen I have approximately {$20000.00} pending between XXXX, XXXX XXXX, and cleared balances in the Chase business account. 

I asked XXXX what would happen to those funds and how I would receive them. 

He said Chase would send me a check at an unspecified time. 

He could not confirm the amount, timing, or whether incoming deposits would still be honored or rejected. 

Impact on my business and livelihood Chases sudden, unexplained closure and refusal to provide documentation prevents me from accessing my own business funds. 

Payments for services I have already performed are now stuck in limbo, creating cash-flow problems. 

This disrupts my business during the holiday period when financial predictability is essential. 

Chase 's actions appear to be discriminatory against lawful crypto-related businesses despite full tax compliance and transparency. 

Chases lack of transparency I requested a specific explanation for the closure, and XXXX explicitly told me he could not provide any reason. 

He said only that it was to protect Chase as an institution. 

The call was recorded on their end, but I was not provided access to the recording. 

No written explanation has been provided. 

What I Am Requesting I am requesting : A clear explanation for why my business and personal accounts are being closed. 

Immediate access to my account statements, full balances, and transaction history, including pending deposits. 

A detailed explanation of how incoming XXXX and XXXX XXXX payments are being handled, including whether they are being accepted, rejected, or held. 

A specific timeline for when and how my funds will be returned. 

Assurance that Chase is not unlawfully or discriminatorily debanking customers who operate legally in the crypto and blockchain sector. 

Restoration of account access and online banking until the closure and transfer of funds is completed with transparency. 

Why This Requires CFPB Intervention I was given zero explanation for account closures. 

Chase refused to provide statements or balances even though they are required to. 

Funds in legitimate business accounts are being withheld with no timeline. 

This action disrupts a lawful, tax-paying small business. 

It appears to be part of a broader pattern of banks debanking crypto-involved businesses without cause. 

Chases behavior directly contradicts consumer protection standards, transparency requirements, and the CFPBs mandates for fair treatment.

Company response to consumer: Closed with explanation