A customer of JPMorgan Chase has accused the bank of abruptly terminating their 18-year banking relationship without warning or explanation. The customer claims to have received no notification or justification as to why their accounts were suddenly closed, and that all funds had to be withdrawn. Banks are allowed to terminate accounts at their discretion for any reason and have increasingly done so due to suspicion of activity. An increase in suspicious activity reports submitted to the government from banking institutions has been recorded in recent years, with over 1.4 million SARs filed in 2021. Additionally, in May this year, attorneys general of 19 states have also accused the bank of systemically discriminating against its customers and closing bank accounts without warning based on religious and political biases.
Sarah Walker
- 2023-12-10
JPMorgan Chase Bank Accused of Abruptly Terminating Accounts
