Consumer complaint received 2024-10-01 00:00:00
Product: Debt collection — Credit card debt
Issue: Attempts to collect debt not owed — Debt is not yours
Company: JPMORGAN CHASE & CO.
State: FL

Complaint narrative:
I am writing to file a complaint against Chase Bank for violating various laws and potentially impeding my Bill of Rights protections. On XX/XX/XXXX Chase bank filed a lawsuit against me and alleged there is a debt owed. I requested a copy of the contract agreement to show proof of debt owed and they refused to provide the contract. I was able to get a copy of the contract and with council read through it. I found that there was an arbitration agreement that was never disclosed to me by anyone and that it clearly states, " Any disputes shall be resolved by binding arbitration. Arbitration replaces the right to go to court, and you therefore agree to waive any right that you or we might otherwise have had to a jury trial or the opportunity to litigate any claims in court before either a judge or jury. '' Chase Bank hid this information from me violating my consumer rights to transparency and good faith. I am now damaged through litigation costs and mediation fees. I was able to stay of summary judgment by getting a motion to compel arbitration which is granted. I now have to absorb more damages with arbitration cost. 
The bank failed to disclose essential terms in our contract, including : - *Conversion of Credit Card Receivables to Securities* : The bank did not disclose that my credit card receivables would be converted into securities, violating the Truth in Lending Act ( TILA ) and Securities Exchange Act.

- *Data Sale* : The bank failed to disclose that my data would be sold, violating privacy laws ( GLBA, FCRA ) and data protection regulations.

- *Arbitration Agreement* : The bank did not disclose the arbitration agreement, violating the Federal Arbitration Act ( FAA ) and state laws.

- *Intent to Arbitrate* : The bank failed to send intent to arbitrate, violating the FAA and state laws.

Pursuing litigation for 4 months and getting a judgement thus ignoring the arbitration agreement which state that all disputes will be handled through arbitration and both parties waive the right to go to court. 
The cited case below XXXX XXXX Chase Bank XXXX XXXX chase bank winning a similar arbitration breach case. 

ThXXXX XXXX XXXX. Chase Bank USA, NA case is a significant one, dealing with a dispute over credit card debt and the enforcement of an arbitration agreement. In this case, XXXX XXXX, the plaintiff, entered into a credit card agreement with Chase Bank USA, NA in XXXX. However, XXXX claimed that the original agreement didn't contain an arbitration clause, which was later added in XXXX. 

The court ultimately ruled in favor of Chase Bank, confirming the arbitration award and dismissing XXXX 's complaint. This decision highlights the enforceability of arbitration clauses in consumer agreements, which can significantly impact consumers ' rights to seek legal recourse.

*Contractual Violations : * 1. Failure to disclose conversion of credit card receivables to securities 2. Failure to disclose data sale 3. Failure to disclose arbitration agreement 4. Failure to send intent to arbitrate 5. Waiver or arbitration by pursuing litigation *Potential Violations : * 1. Truth in Lending Act ( TILA ) - 15 U.S.C. 1601 et seq. 
2. Securities Exchange Act - 15 U.S.C. 78a et seq.

3. Gramm-Leach-Bliley Act ( GLBA ) - 15 U.S.C. 6801 et seq.

4. Fair Credit Reporting Act ( FCRA ) - 15 U.S.C. 1681 et seq.

5. Federal Arbitration Act ( FAA ) - 9 U.S.C. 1 et seq.

6. Dodd-Frank Wall Street Reform and Consumer Protection Act - 12 U.S.C. 5301 et seq.

7. Unfair, Deceptive, or Abusive Acts or Practices ( UDAAP ) - 12 U.S.C. 5536 Previous CFPB Findings : CFPB, 47 States and D.C. Take Action Against JPMorgan Chase for Selling Bad Credit Card Debt and Robo-Signing Court Documents XX/XX/XXXX. 
XXXX XXXXXXXX Today the Consumer Financial Protection Bureau and Attorneys General in 47 states and the XXXX XXXX XXXX  took action against JPMorgan Chase for selling bad credit card debt and illegally robo-signing court documents. The CFPB and states found that Chase sold zombie debts to third-party debt buyers, which include accounts that were inaccurate, settled, discharged in bankruptcy, not owed, or otherwise not collectible. The order requires Chase to document and confirm debts before selling them to debt buyers or filing collections lawsuits. Chase must also prohibit debt buyers from reselling debt and is barred from selling certain debts. Chase is ordered to permanently stop all attempts to collect, enforce in court, or sell more than XXXX consumers accounts. Chase will pay at least {$50.00} XXXX in consumer refunds, {$130.00} XXXX in penalties and payments to the CFPB and states, and a {$30.00} XXXX penalty to the Office of the Comptroller of the Currency ( OCC ) in a related action. 


As evidenced by XXXX XXXX. XXXX, the CFPB has previously found Chase guilty of violating the Dodd-Frank Wall Street Reform and Consumer Protection Act 's prohibitions against unfair, deceptive, or abusive acts and practices in 47 states including XXXX in XXXX. 


*Consent Order Violations : * Chase 's actions, as described above, appear to violate the Consent Order ( XXXX XXXX. XXXX ) by : 1. Failing to verify debt validity and accuracy before selling debts to third-party collectors.

2. Filing debt collection lawsuits without proper documentation.

3. Failing to implement policies and procedures to prevent unlawful debt collection practices.

These failures may have deprived me of fair notice and opportunity to be heard, potentially violating my Due Process rights under the 5th and 14th Amendments. The hidden arbitration agreements may also disproportionately affect vulnerable groups, violating Equal Protection principles under the 14th Amendment. Furthermore, the unauthorized data sale may constitute an unreasonable invasion of privacy, violating my 4th Amendment rights.

I request that the CFPB take the following actions : 1. Rescission of contract 2. Damages 3. Injunctive relief 4. Arbitration clause challenge 5. UDAAP investigation 6. Fines 7. Restitution or disgorgement 8. Corrective actions

Company response to consumer: Closed with explanation