Consumer complaint received 2024-11-30 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: JPMORGAN CHASE & CO.
State: LA

Complaint narrative:
I have been trying to apply for a small loan with these online loan companies for about a month but kept getting turned down. About one week ago, I received a call from someone working at XXXX XXXX telling me that I was eligible for a loan. After looking online for information on the company, I provided information over the telephone believing that it was a legitimate application process. After the information was taken, I was told to input information into the bank verification portal that was accessed via a link that was emailed to me, to which I provided my name, social security number, phone number, the name of my financial institution, the username and password to the bank 's mobile application. When all of this was completed, the person I spoke with on the phone informed me that a small amount would be deposited into the account to verify the account and that I had to go send it back after it was credited. I was also told that by doing this, this would increase my credit score and the loan proceeds would be deposited into the account. After receiving the amounts deposited into my checking account, I duly went and sent the funds back via making payments at XXXX off of my debit card. This was done three times. In the meantime, I kept receiving alerts from my bank that I had filed a dispute, which I could not discern what they were talking about. then on XX/XX/2024, I was contacted by this " loan employee '' that another payment had to be deposited into my account to increase my credit score so that I could receive the loan proceeds. I was instructed to take those funds out and return it to this finance company in the same process as the other payments. However, the bank flagged the check for verification purposes and was told that it would be held for nearly two weeks. I informed this person of same and in response, two more online checks were deposited, and the bank returned these checks as fraudulent and altered. On XXXX XXXX, I was informed by one of my creditors that a payment made three months ago was reversed. I immediately checked my checking account, and it was then that I discovered that several payments made over three months ago had been reversed and the credits were the amounts taken out of my checking account to pay this scammer, and that my account balance was nearly {$1000.00} in the negative. I reported everything to the bank and the account has been frozen. However, I was told that I was on the hook for the negative bank balance. A report has been filed with my local law enforcement agency and I have filed a complaint with the Federal Trade Commission and the XXXX XXXX XXXX I now have to contact my cable company, another bank and my car insurer and inform them of the fraud and try to mitigate the damage that this is causing. The bank claims that they are immune to any damages because I approved the reversals -- I did not put in any request to dispute and/or reverse the charges, the scammer pulled this stunt and I'm stuck out and I hope I do not have to seek legal recourse. Thank you.

Company response to consumer: Closed with explanation