JPMorgan Chase Bank Account Or Service Complaint

JPMorgan Chase Bank account or service department,

Other bank product/service Making/receiving payments, sending money Ohio

Complainant is a partner in a small Ohio-based business, - -, -. My federal - is -. I am filing a CFPB complaint because in setting up ( credit card ) merchant services via their wholly-owned - entity, Chase Bank is improperly attempting to mingle my personal credit information and creditworthiness with a business endeavor that has no relationship with, nor is dependent upon in any manner, my personal credit history and personal information. - -, - has a 14 year unblemished history of business and financial performance, and as a corporation stands on its own, and is legally considered a person ''. Their attempted co-mingling of disparate attributes will damage my personal credit score, and are discriminatory against small businesses owing to the prima-facie truth that Chase Bank provision of identical services to - - companies would never include provision of a


social security number '' to support running a personal credit report/score. The practice of requiring personal DOB and SSN for provision of small business merchant services is discriminatory against a properly formulated business, represents an unnecessary burden not applied to large entities, and is particularly galling because in the specific case merchant services, contorts the entire process SINCE THE DIRECTION OF MONEY FLOW IS FROM THE BANK ( - ) TO THE SMALL BUSINESS. Given this money flow reality, conducting a personal credit check is not only discriminatory and abusive, but fraudulent, since there is no provision of credit arising from performance of the credit review, notwithstanding the rare circumstance of a charge-back, which for the undersigned complainant has never occurred in 14 years of accepting credit cards. The postulated charge-back scenario is tenuous, since Chase Bank themselves have handled the business banking services for - -, - for approximately 10 years. Furthermore, if charge-backs are the basis for concern, the examination of capacity to reverse fund charge-backs still remains with the legal entity, since it is the business account from which charge-back funding must be captured. In closing, this complaint is a Consumer Financial Protection '' issue on behalf of all similarly situated small businesses and their Principals owing to the discriminatory practice of requiring an onerous and frivolous credit check '', which imparts an additional burden as well as a tangible negative factor on the Principals credit history and score. In the event that the CFPB deems that this complaint more appropriately belongs with another agency or within another forum, the CFPB 's assistance in re-routing this complaint is appreciated in advance.