Checking or savings account -- Managing an account -- Complaint #12301273
JPMorgan Chase Closes Checking Account, Refers Issue
Complaint Overview
Complaint ID: 12301273
Company: Jpmorgan Chase & Co.
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
State: Tennessee
ZIP Code: 37206
Date Received: 2025-02-28T12:00:00-05:00
Date Sent to Company: 2025-03-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Referral
Risk Assessment
Risk Level: low
The risk is low as the account was closed with an explanation and referred, suggesting a resolution or clear reason was provided.
Consumer Sentiment: neutral
Topics: Checking account, Account management, JPMorgan Chase
AI Analysis
CFPB complaint 12301273 was filed against JPMORGAN CHASE & CO. regarding Checking or savings account (Checking account), specifically about "Managing an account". A consumer's checking account with JPMorgan Chase in Tennessee was closed with an explanation, and the issue was referred. The complaint was received on February 28, 2025 from Tennessee. The company responded with "Closed with explanation".
What You Should Do -- Consumer Action Plan
Consumers should review the explanation provided by JPMorgan Chase for the account closure and understand the referral process.
Legal Context & Consumer Protection Laws
Account closures are governed by the terms and conditions of the account agreement and federal regulations like Regulation E.
Regulatory Insight
The referral indicates the issue may have been escalated to another department or entity for further review or action.
Resolution Likelihood
unlikely
State-Specific Consumer Protections
In Tennessee, bank account closures are subject to state banking laws and consumer protection regulations.
Industry Comparison
Account closures are a common occurrence in the banking industry, often due to policy violations or inactivity.
Related Issues
Frequently Asked Questions
What is CFPB complaint 12301273 about?
CFPB complaint 12301273 involves Checking or savings account (Checking account). The consumer reported an issue with "Managing an account", specifically "Deposits and withdrawals". This complaint was filed against JPMORGAN CHASE & CO. on February 28, 2025.
Which company is complaint 12301273 filed against?
Complaint 12301273 was filed against JPMORGAN CHASE & CO.. You can view all complaints against this company on their profile page at /company/jpmorgan-chase-co.
What was the company's response to complaint 12301273?
JPMORGAN CHASE & CO. responded with "Closed with explanation". The response was marked as timely by the CFPB.
When was complaint 12301273 filed?
Complaint 12301273 was received by the CFPB on February 28, 2025. It was sent to JPMORGAN CHASE & CO. on March 3, 2025.
What state was complaint 12301273 filed from?
Complaint 12301273 was filed from Tennessee. You can view all complaints from this state at /state/TN.
Was the consumer satisfied with the resolution of complaint 12301273?
Dispute information is not available for complaint 12301273.
What product category is complaint 12301273 about?
Complaint 12301273 is categorized under "Checking or savings account", specifically "Checking account". This is one of the product categories tracked by the CFPB.
How was complaint 12301273 submitted?
Complaint 12301273 was submitted via Referral. The CFPB accepts complaints through web, phone, mail, email, fax, and referral channels.
What are the consumer's legal options for complaint 12301273?
Account closures are governed by the terms and conditions of the account agreement and federal regulations like Regulation E. This relates to a Checking or savings account complaint against JPMORGAN CHASE & CO. involving "Managing an account".
How likely is complaint 12301273 to be resolved?
Resolution likelihood: unlikely. The company's current response is "Closed with explanation". The company did respond in a timely manner, which is a positive indicator.
What does the risk level mean for complaint 12301273?
This complaint is rated as low risk. The risk is low as the account was closed with an explanation and referred, suggesting a resolution or clear reason was provided.
What regulatory actions apply to complaint 12301273?
The referral indicates the issue may have been escalated to another department or entity for further review or action. The CFPB tracks complaints like this one to identify patterns of misconduct across the Checking or savings account industry.
What should the consumer do about complaint 12301273?
Consumers should review the explanation provided by JPMorgan Chase for the account closure and understand the referral process.
Are there state-specific protections for complaint 12301273?
In Tennessee, bank account closures are subject to state banking laws and consumer protection regulations. This complaint was filed from Tennessee.
How does complaint 12301273 compare to industry norms?
Account closures are a common occurrence in the banking industry, often due to policy violations or inactivity.
What specific explanation was provided by JPMorgan Chase for the account closure?
The provided data indicates the account was closed 'with explanation,' but the specific reason is not detailed here. Further inquiry with the bank would be necessary to ascertain the exact cause.
What does the 'Referral' status imply in this context?
A referral suggests the issue was passed to another department or entity within JPMorgan Chase or to an external agency for further investigation or resolution.
Disclaimer
This analysis is AI-generated and does not constitute legal advice.