Checking or savings account -- Problem with a lender or other company charging your account -- Complaint #9166109
JPMorgan Chase Accused of Unauthorized Checking Account Charges
Complaint Overview
Complaint ID: 9166109
Company: Jpmorgan Chase & Co.
Product: Checking or savings account
Sub-Product: Checking account
Issue: Problem with a lender or other company charging your account
Sub-Issue: Transaction was not authorized
State: California
ZIP Code: 95356
Date Received: 2024-05-31T12:00:00-05:00
Date Sent to Company: 2024-06-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Referral
Risk Assessment
Risk Level: medium
Unauthorized charges can lead to financial distress and loss of trust in the financial institution.
Consumer Sentiment: negative
Topics: Checking or savings account, Checking account, Unauthorized transaction
AI Analysis
CFPB complaint 9166109 was filed against JPMORGAN CHASE & CO. regarding Checking or savings account (Checking account), specifically about "Problem with a lender or other company charging your account". A consumer reported an unauthorized charge on their checking account from JPMORGAN CHASE & CO., which was closed with an explanation. The complaint was received on May 31, 2024 from California. The company responded with "Closed with explanation".
What You Should Do -- Consumer Action Plan
Consumers should carefully review their bank statements regularly and report any suspicious transactions immediately to their bank.
Legal Context & Consumer Protection Laws
Federal laws like the Electronic Fund Transfer Act (EFTA) protect consumers from unauthorized electronic transactions.
Regulatory Insight
Financial institutions must have robust systems to prevent and address unauthorized transactions to comply with consumer protection regulations.
Resolution Likelihood
mixed
State-Specific Consumer Protections
The consumer is located in California.
Industry Comparison
Unauthorized transactions are a common issue across the banking industry, affecting many financial institutions.
Related Issues
Frequently Asked Questions
What is CFPB complaint 9166109 about?
CFPB complaint 9166109 involves Checking or savings account (Checking account). The consumer reported an issue with "Problem with a lender or other company charging your account", specifically "Transaction was not authorized". This complaint was filed against JPMORGAN CHASE & CO. on May 31, 2024.
Which company is complaint 9166109 filed against?
Complaint 9166109 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 9166109?
JPMORGAN CHASE & CO. responded with "Closed with explanation". The response was marked as timely by the CFPB.
When was complaint 9166109 filed?
Complaint 9166109 was received by the CFPB on May 31, 2024. It was sent to JPMORGAN CHASE & CO. on June 3, 2024.
What state was complaint 9166109 filed from?
Complaint 9166109 was filed from California. You can view all complaints from this state at /state/CA.
Was the consumer satisfied with the resolution of complaint 9166109?
Dispute information is not available for complaint 9166109.
What product category is complaint 9166109 about?
Complaint 9166109 is categorized under "Checking or savings account", specifically "Checking account". This is one of the product categories tracked by the CFPB.
How was complaint 9166109 submitted?
Complaint 9166109 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 9166109?
Federal laws like the Electronic Fund Transfer Act (EFTA) protect consumers from unauthorized electronic transactions. This relates to a Checking or savings account complaint against JPMORGAN CHASE & CO. involving "Problem with a lender or other company charging your account".
How likely is complaint 9166109 to be resolved?
Resolution likelihood: mixed. 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 9166109?
This complaint is rated as medium risk. Unauthorized charges can lead to financial distress and loss of trust in the financial institution.
What regulatory actions apply to complaint 9166109?
Financial institutions must have robust systems to prevent and address unauthorized transactions to comply with consumer protection regulations. 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 9166109?
Consumers should carefully review their bank statements regularly and report any suspicious transactions immediately to their bank.
Are there state-specific protections for complaint 9166109?
The consumer is located in California. This complaint was filed from California.
How does complaint 9166109 compare to industry norms?
Unauthorized transactions are a common issue across the banking industry, affecting many financial institutions.
What steps should a consumer take if they discover an unauthorized charge on their account?
Immediately contact the financial institution to report the transaction and initiate a dispute. Keep records of all communication.
What are the typical timeframes for resolving unauthorized transaction disputes?
Resolution times can vary, but regulations often require financial institutions to investigate and respond within a certain period, typically a few business days for initial acknowledgment and longer for full resolution.
Disclaimer
This analysis is AI-generated and does not constitute legal advice.