Nosy banks

I don't even have an account with JPMorgan Chase, but reading this is just pure nonsense.

Instead of actually working to retain their customers, they’re out here acting like this.

What exactly do they think they're doing?

Did they bother asking some high-rolling tycoons where their money came from, or are they just busy lecturing everyday Americans instead?

Honestly, we're all in this mess together when this kind of blatant stupidity starts happening...

Alexander Thompson said:I wouldn't call it a threat, really—more like they're just letting you know what's coming 😉... It's kind of like how you aren't obligated to do business with them, and they aren't obligated to deal with you either...

It is a threat. And the part about them refusing to work with me...
I couldn't care less.

Look, from my perspective—someone who basically just uses a bank to hold onto their cash—this letter feels totally unprofessional and honestly kind of insulting. I don’t need a bank, and I certainly don't need Chase. I haven't seen their internal balance sheets, but if everyone in my shoes decided to just pull their money out, I doubt they'd be thrilled about it. Maybe I'm wrong, but if someone tells me they don't want a business relationship with me in this tone, then thanks but no thanks. There are plenty of other banks out there.

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Honestly, banks are starting to feel pretty pointless. I mean, if you strip away loans, what’s left? It feels like they exist just to watch my every move. With the way things work now, I just want to get my paycheck, pay my bills, and spend my cash without some corporate entity breathing down my neck or tracking my every little habit. Plus, there's always that nagging worry about those shady legal seizures or frozen accounts where suddenly all your money is locked up, leaving you scrambling to figure out how you're even going to eat.

Terry Edwards6 said:Honestly, banks are starting to feel pretty pointless. I mean, if you strip away loans, what’s left? It feels like they exist just to watch my every move. With the way things work now, I just want to get my paycheck, pay my bills, and spend my cash without some corporate entity breathing down my neck or tracking my every little habit. Plus, there's always that nagging worry about those shady legal seizures or frozen accounts where suddenly all your money is locked up, leaving you scrambling to figure out how you're even going to eat.

Exactly. Once the cash leaves your hands, you lose track of where it goes—how or when it ends up being diverted somewhere else entirely...

That’s precisely why they keep pushing all these contactless payment gimmicks...

In all likelihood, they'll eventually try to phase out or strictly limit cash altogether. They're clearly aiming for total control.

I am seriously considering heading down to JPMorgan Chase to withdraw my funds and close every single one of my accounts... and if there happens to be a moderator lurking in this thread, perhaps you could step in and rein in this forum lead—she’s been trolling from the jump and providing nothing but incorrect answers to basic questions

Laura Chavez93 said:I am seriously considering heading down to JPMorgan Chase to withdraw my funds and close every single one of my accounts... and if there happens to be a moderator lurking in this thread, perhaps you could step in and rein in this forum lead—she’s been trolling from the jump and providing nothing but incorrect answers to basic questions

It would be wise to send them formal inquiries. We need to make it clear that as current clients, we demand an explanation for this level of communication.
That said, I am still waiting on a response from their "relevant department," as well as a reply from my personal banker regarding the account closure.

Just so we are all clear on what the USA PATRIOT Act actually dictates:
Quincy:

Under this specific section of the Act, the scope of personal data collected from an individual is strictly limited to the following: full name, residential address, date of birth, place of birth, identification number, and the name, number, and issuing authority of the identification document.

There is no mention of marital status, number of children, work phone numbers, education levels, foreign citizenship, or any other such nonsense... nor is there a requirement for me to sign away my privacy so that a bank can use my personal information however they see fit...

Laura Chavez93 said:I am seriously considering heading down to JPMorgan Chase to withdraw my funds and close every single one of my accounts... and if there happens to be a moderator lurking in this thread, perhaps you could step in and rein in this forum lead—she’s been trolling from the jump and providing nothing but incorrect answers to basic questions

That won't actually solve your problem, though, since you'll just end up having to open a new account at a different bank anyway.
The real fix, if we want to fight for actual freedom, would be to bring back the ability to receive our hard-earned paychecks and pensions in cold, hard cash! I wouldn't even mind if employers were allowed to slightly adjust wages to cover the overhead of handling physical currency. Without that option, everything else is just a formality!

Of course, we all know that isn't going to happen, mostly because people have been completely brainwashed by the system.

The moment I bring up financial and tax repression, a bunch of brainwashed idiots jump in to whine about how everything is perfectly fine...🤣

I received one of those questionnaires myself. I filled it out—but only with the data required by the government and the IRS. Any question regarding my private life was skipped entirely...

Just so the brainwashed crowd knows—I recently withdrew a significant amount of cash from an ATM (with prior notice), and the teller actually had the nerve to ask me why I was pulling that much from my account.

When I asked if I really had to provide a reason, she insisted I did. Fine—so I told her to just write down that I'm withdrawing it because I'm fully aware the global financial system is on the brink of collapse 😁...silence...she said there wasn't a field for that. So, I suggested she just select "Other"...

Next time, I might just tell her to check the box for "Gambling"—since that's an option they provide. 🎉

If I were in her shoes, I’d just give her the straight answer—booze, gambling, and loose women...

Maybe some people might find this German alternative interesting:

https://n26.com/eu/pricing/

Nathan Morris3 said:Maybe some people might find this German alternative interesting:

https://n26.com/eu/pricing/

We don't have anything like that in America yet. I'm already on the waiting list for when they finally launch it. 😀

From iPhone 15

So, I just got off the phone with JPMorgan Chase regarding my interest statements,
but they’ve implemented this automated receptionist—which immediately informs you that if you're calling about inquiries, you might as well handle it via their online portal or by visiting a local branch... 🤣

Laura Chavez93 said:So, I just got off the phone with JPMorgan Chase regarding my interest statements,
but they’ve implemented this automated receptionist—which immediately informs you that if you're calling about inquiries, you might as well handle it via their online portal or by visiting a local branch... 🤣

Yes, the data can be updated that way. But from what I hear, they received quite a few complaints regarding the letter. I haven't received a response to my inquiry yet. It would be ridiculous if they were caught off guard and don't have an answer ready.

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Steven Rivera76 said:Yes, the data can be updated that way. But from what I hear, they received quite a few complaints regarding the letter. I haven't received a response to my inquiry yet. It would be ridiculous if they were caught off guard and don't have an answer ready.

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On the contrary, this feels entirely premeditated... they tried the "it's the law" angle and the "you are required to comply" approach, but they still need a way to handle those stubborn individuals who refuse to hand over their private data just so a bank can do whatever it pleases with it...

Steven Rivera76 said:I don't see an answer to my question—has your bank actually been closing accounts because of this questionnaire, and has anyone had their loans called in full because of it?

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I can't give you a definitive answer on that, but I'll tell you this: based on what I'm hearing from colleagues over at JPMorgan Chase—since they're the ones being talked about right now—there are certain individuals who acted too bold. I don't know exactly what happened, but apparently, the bank shut down every single product those people used because they failed to follow the general terms of service. Like someone else pointed out, it's a two-way street; you aren't obligated to do business with them, and they aren't obligated to do business with you. I don't know precisely what information these people refused to provide, but I'm certain it wasn't just stuff like marital status or how many kids they have.

As for those claiming this isn't happening, if you don't update or submit the required info, just wait a while and then come back to share your experience.👍

By law, the bank is required to respond to a written complaint within 15 days.

wiredlynx28 said:I can't give you a definitive answer on that, but I'll tell you this: based on what I'm hearing from colleagues over at JPMorgan Chase—since they're the ones being talked about right now—there are certain individuals who acted too bold. I don't know exactly what happened, but apparently, the bank shut down every single product those people used because they failed to follow the general terms of service. Like someone else pointed out, it's a two-way street; you aren't obligated to do business with them, and they aren't obligated to do business with you. I don't know precisely what information these people refused to provide, but I'm certain it wasn't just stuff like marital status or how many kids they have.

As for those claiming this isn't happening, if you don't update or submit the required info, just wait a while and then come back to share your experience.👍

By law, the bank is required to respond to a written complaint within 15 days.

Yes, certain individuals were acting quite arrogant. 🤦🏻‍♀️

From what I've heard, personal bankers at JPMorgan Chase are calling clients because they're worried about the wave of people announcing they're closing their accounts. Quite a few people have actually made that announcement.

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wiredlynx28 said:I can't give you a definitive answer on that, but I'll tell you this: based on what I'm hearing from colleagues over at JPMorgan Chase—since they're the ones being talked about right now—there are certain individuals who acted too bold. I don't know exactly what happened, but apparently, the bank shut down every single product those people used because they failed to follow the general terms of service. Like someone else pointed out, it's a two-way street; you aren't obligated to do business with them, and they aren't obligated to do business with you. I don't know precisely what information these people refused to provide, but I'm certain it wasn't just stuff like marital status or how many kids they have.

As for those claiming this isn't happening, if you don't update or submit the required info, just wait a while and then come back to share your experience.👍

By law, the bank is required to respond to a written complaint within 15 days.

Man, look... I haven't given a damn about them for two years now. I couldn't care less about those idiots at JPMorgan Chase or their endless paperwork.
The ones acting arrogant are those clowns at JPMorgan Chase, not the customers. No wonder they're going downhill.

I actually had a bit of a headache with JPMorgan Chase once. I called them up to ask why they were citing laws to demand data they aren't even legally allowed to ask for—the law is pretty clear on what they can and can't request. Their response was just a canned script, really. It wasn't an actual answer; they just kept looping back to some vague "requirement to update information." So, I filed a complaint with the FTC, and they basically confirmed that I don't have to provide info that isn't legally required (big surprise, right?). Unfortunately, it seems like neither the Federal Reserve nor the FTC has a real way—or maybe they just don't want to—to stop this kind of overreach. Honestly, I doubt this kind of thing would fly in another European Union country. In the end, I just refused to give them the data and moved my money to a different bank.

Anyway, I’d suggest reaching out to the FTC and being a bit more firm with them, though I worry you might just get caught in a jurisdictional game of ping-pong between the Federal Reserve and the FTC. I think the FTC took a stance on this before, if I remember correctly, but the catch is that the FTC doesn't actually oversee banks—that's the Federal Reserve's territory.

Regardless, maybe it's not a coincidence that Citigroup had to write off over $11 billion. Maybe their retail side is struggling and they're looking to scale back, though I don't see much point in doing it this way. Or maybe it's all just a coincidence, I guess.