Credit card -- Problem when making payments -- Complaint #8016428
Complaint Overview
Complaint ID: 8016428
Company: Jpmorgan Chase & Co.
Product: Credit card
Sub-Product: General-purpose credit card or charge card
Issue: Problem when making payments
Sub-Issue: Problem during payment process
State: Georgia
ZIP Code: 30058
Date Received: 2023-12-17T12:00:00-05:00
Date Sent to Company: 2023-12-17T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I hope this message finds you well. I am writing to bring to your attention a concerning issue related to a negotiable instrument ( 3-104 ) that I issued to Chase on XX/XX/2023, with the expectation of prompt and secure handling. Regrettably, I have been informed that my payment, sent in good faith, has been misplaced by your institution. As of XX/XX/2023, when Chase received the negotiable instrument, it came under the purview of the Uniform Commercial Code ( UCC ), specifically sections 3-309 and 3-312. Under UCC 3-309 ( 4 ), when a claim becomes enforceable, the obligated bank, in this case, Chase, is obligated to pay the amount of the check to the claimant if payment has not been made to a person entitled to enforce the check. This, however, is contingent on the condition that the claimant refunds the payment to Chase if the check is paid or pays the amount of the check to the person having rights of a holder in due course if the check is dishonored. Additionally, UCC 4-302 outlines the payor bank 's responsibility for the late return of an item, holding the bank accountable for the amount of the item if it is not settled for or returned by the midnight deadline. Moreover, considering the provisions of UCC 3-303, it is essential to emphasize that the negotiable instrument was issued for value, meeting the criteria outlined in subsection ( a ), specifically ( 3 ) " as payment of, or as security for, an antecedent claim against any person. '' The obligation of the acceptor, as defined in 3-413, further underscores the responsibility to pay the draft according to its terms at the time of acceptance, or as varied, to the extent owed to a person entitled to enforce the draft. Given the circumstances outlined above, I am compelled to express my concern that this situation may be indicative of a potential securities fraud matter. I believe it is in the best interest of all parties involved to address this issue promptly and rectify any discrepancies. If this matter is not handled in a timely and satisfactory manner, I may be compelled to escalate this concern to the Securities and Exchange Commission ( SEC ). I am hopeful that we can resolve this matter amicably and promptly to avoid any further escalation. I appreciate your immediate attention to this matter and look forward to a swift resolution. Sincerely, XXXX XXXX
Frequently Asked Questions
What is Complaint #8016428 about?
Complaint #8016428 was filed against Jpmorgan Chase & Co. regarding Credit card specifically about Problem when making payments. It was received by the CFPB on 2023-12-17T12:00:00-05:00.
How did Jpmorgan Chase & Co. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Credit card) and describe your issue in detail.
Can I see other complaints against Jpmorgan Chase & Co.?
Yes, visit the Jpmorgan Chase & Co. company profile at readthecomplaint.com/company/jpmorgan-chase-co to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.