Consumer complaint received 2025-09-11 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Funds not received from closed account
Company: JPMORGAN CHASE & CO.
State: TX

Complaint narrative:
To : Consumer Financial Protection Bureau ( CFPB ) Introduction My wife XXXX XXXX XXXX XXXX and I ( XXXX XXXX ) have 4 business checking accounts with Chase. 
XXXX XXXX and XXXX belong to her. XXXX XXXX and XXXX are mine. On XX/XX/year>, Chase froze all the accounts. Only XXXX XXXX received the check within a month ; Chase still holds all the other accounts after 90 days. 

Timeline of Events XXXX. XX/XX/year> Chase froze the business accounts without prior written notice. 
XXXX. Initial Explanation Chase representatives repeatedly stated that checks had already been mailed. 
XXXX. Contradiction After weeks of inquiries, Chase changed its explanation, stating funds were held for a 90-day internal review. 
XXXX. Expectation Based on this, we reasonably expected the funds to be released after 90 days. 
XXXX. XX/XX/year> ( 90-day mark ) Even after 90 days, Chase refused to release the funds, claiming accounts remain under review. 
XXXX. No Government Order Chase confirmed no government or court order required the freeze, citing only vague Deposit Account Agreement provisions. 
XXXX. Indefinite Hold Without Government Order Chase has continued to hold the funds far beyond the promised 90-day period, despite confirming that no government or court order exists. This constitutes unlawful deprivation of consumer funds and demonstrates abuse of power. 
XXXX. Inconsistent Treatment of Accounts Chase applied inconsistent handling across different business accounts under my ownership. 
For one company, the branch directly issued a refund check. 
For three other companies, Chase initially claimed checks had been mailed, later reversed its explanation, and then imposed a 90-day hold.

After the 90-day period expired, Chase again changed its position and claimed the accounts remained under review. 
9. Communication Attempts Multiple phone calls, emails, CEO escalation letters, and legal demand letters were either ignored or vaguely answered. 
XXXX. Dismissive Attitude Even when informed of regulatory complaints, Chases representatives remained indifferent. 


Arbitrary and Non-Standardized Practices Chases handling of these accounts demonstrates a lack of standardized, transparent, and fair procedures. The inconsistent treatment of accounts, contradictory explanations, absence of written documentation, and arbitrary extensions of the freeze show that Chase operates with discretionary, non-standardized practices rather than regulated banking standards. These actions erode consumer trust and violate the principles of fair treatment. 



Resource Imbalance and Consumer Harm As one of the largest U.S. banks, Chase holds overwhelming resources and authority compared to individual consumers and small business owners. 
Despite this imbalance, we have made extraordinary efforts to resolve the matter in good faith : repeated phone calls, multiple emails, CEO escalation letters, and retaining legal counsel. Yet Chase either ignored these efforts or provided vague, evasive replies. 
This forced us to spend significant time, energy, and financial resources merely to access our own funds. Such an excessive burden is inherently unfair, as no consumer should be required to exhaust disproportionate resources just to defend their basic rights. 


Potential Legal and Regulatory Violations Chases conduct may violate several federal consumer protection laws, including : 1. The Dodd-Frank Act ( UDAAP ) engaging in unfair, deceptive, and abusive practices. 
2. The Truth in Savings Act ( Regulation DD ) failing to provide clear, written disclosures regarding the freeze. 
3. The Electronic Fund Transfer Act ( Regulation E ) depriving consumers of rightful access to their funds without valid authority.

4. The FTC Acts prohibition on unfair trade practices making misleading statements and failing to act in good faith.

5. OCC regulatory guidance for national banks inconsistent, arbitrary, and nonstandardized account handling procedures.

Executive Order on Fair Banking On XX/XX/year>, XXXX XXXX issued an executive order titled Guaranteeing Fair Banking for All Americans. The order states that banks must not deny or restrict services based on customers ' political beliefs, religious views, or lawful business activities. 
It directs federal regulators to eliminate vague reputational risk considerations from supervisory guidance and to review past practices for politicized or unjustified account restrictions. 
Such regulatory context underscores that Chases inconsistent explanations and indefinite account freezeswithout clear legal or risk-based justificationmay violate not only consumer protection laws, but also this new directive promoting fair and objective banking decisions. 

Disregard for Law and Consumer Rights Chases dismissive and indifferent responses, even after being informed of regulatory complaints, reflect a troubling disregard for the rule of law and a lack of accountability. 
By refusing to provide substantive answers, ignoring formal communications from both the customer and legal counsel, and continuing to shift explanations without valid authority, Chase has demonstrated systemic contempt for consumer protection obligations. 
This attitude not only compounds the harm to us as consumers but also undermines public confidence in the integrity of the banking system. 


Requested Relief 1. Immediate release of the frozen funds ( Bunisess accounts for : XXXX XXXXXXXX XXXX XXXX XXXX, or production of valid government/court orders justifying the freeze. 
XXXX. Written explanation from Chase detailing the legal basis and internal procedures relied upon. 
XXXX. Explanation of Contradictory Statements Require Chase to explain in writing why different and contradictory statements were given ( checks mailed, 90-day hold, continued review ) and identify the internal or legal basis for each explanation. 
XXXX. Compensation for the financial damages, reputational harm, and business losses caused by Chases unlawful and unfair conduct. 
5. Regulatory oversight to ensure Chase implements corrective measures to prevent such harm to other consumers and small businesses. 
XXXX. Preservation of our rights to pursue arbitration, litigation, and further complaints with state attorneys general and other authorities if unresolved. 





Sincerely yours XXXX XXXX XXXX XXXX XX/XX/year>

Company response to consumer: Closed with explanation