Credit card -- Other features, terms, or problems -- Complaint #8935174

Complaint Overview

Complaint ID: 8935174

Company: Chime Financial INC

Product: Credit card

Sub-Product: General-purpose credit card or charge card

Issue: Other features, terms, or problems

Sub-Issue: Other problem

State: Nevada

ZIP Code: 89122

Date Received: 2024-05-05T12:00:00-05:00

Date Sent to Company: 2024-05-05T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

Subject : Formal Complaint for Violation of Regulation E and Demand for Immediate Remedy To Whom It May Concern, I am writing to you as the aggrieved party in a matter concerning a recent transaction dispute with Chime, which I contend is in direct contravention of the Electronic Fund Transfer Act ( EFTA ), 15 U.S.C. 1693 et seq., and its implementing Regulation E, 12 C.F.R. 1005. In accordance with the aforementioned statutes, I hereby submit this formal complaint and demand immediate remediation of the errors perpetrated against my account. **Statement of Facts : ** On XX/XX/XXXX, I received a perfunctory correspondence from Chime, indicating a denial of my claim related to an unauthorized transaction. The communication was devoid of any substantive rationale, merely stating " no error occurred. '' This conclusory assertion fails to satisfy the disclosure requirements mandated by Regulation E, which necessitates a financial institution to furnish a written explanation of its findings post-investigation. **Legal Grounds : ** The denial letter 's lack of detail constitutes a flagrant disregard for the procedural due process rights enshrined in Regulation E, which explicitly stipulates the obligation of financial institutions to provide a comprehensive error resolution notice. The statutory damages for noncompliance with Regulation E can range from {$100.00} to {$1000.00} for individual actions, with potential class actions resulting in statutory damages of the lesser of {$500000.00} or 1 percent of the net worth of the defendant, as well as the recovery of attorney 's fees and court costs **Nevada Revised Statutes : ** Furthermore, pursuant to the Nevada Revised Statutes, consumers are afforded protections under NRS Chapter 598, which governs deceptive trade practices, including but not limited to the dissemination of false information and failure to disclose material facts in consumer transactions. **Demand for Resolution : ** In light of the aforementioned violations, I demand the following : 1. Immediate crediting of the disputed amount to my available balance, as my secure account was debited contemporaneously with the credit extended at the time of the transaction in question. 2. A detailed and itemized statement delineating the investigative process undertaken by Chime, the evidence evaluated, and the justification for the claim 's denial, in compliance with the requirements of Regulation E. 3. Statuary damages in the amount of XXXX $ **Conclusion : ** Should Chime fail to rectify this situation forthwith, I reserve the right to pursue all legal remedies available, including but not limited to initiating litigation for the recovery of statutory damages, attorney 's fees, and any other relief deemed just and proper by the court. Please acknowledge receipt of this letter and provide a substantive response within fifteen ( 15 ) business days of its receipt. Sincerely, XXXX XXXX XXXX XXXX

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