ACH Debit Authorizations Revoked - Still Sending Through

Ladybug, thats not paranoid thats really smart! These PDLs are so slimey you should always save everything. YOu never know if they are gonna crawl out from under their rocks and try to collect down the road.

I had no luck at my branch. I sent a certified letter to the Loss Claims Department of JPMorgan Chase Bank regarding the NSF fees and unauthorized ACH debits and explained the situation as to how I had notified Chase back in November and they told me they could not stop them, would not reverse them, blah-blah-blah, etc-etc. They received the letter - I have the returned receipt. No response yet. If they refuse to refund those charges back to my account, what's my next step? According to them, I'm over $4,000 in the red right now. They have closed the account. Is there a letter of some sort or someone I can contact? I've got a feeling they're going to try to fight me on this. But, they are 100% in the wrong!

Contact the OCC....Office of the Comptroller of Currency. Let them know you tried to revoke ACH under the Electronic Funds Transfer Act that goudah quoted on page 1 of this post...

Contacting a Customer Assistance Specia list Top
You can reach one of the OCC Customer Assistance Specia lists by calling our toll free number, 1-800-613-6743, Monday - Friday, 7:00 a.m. to 7:00 p.m., Central Time or by sending an email to Customer.Assistance(at)occ.treas.gov.
Please be reminded that e-mail is not necessarily secure against interception. Please do not include sensitive information of a personal or confidential nature - such as your bank account, credit card, or social security number.

Hi all. Below is the letter I sent to Chase on 1/15/08.(I even quoted you, Kash, as I don't think it could have been said better) I have yet to get a response from them, so I am sending a copy of this letter to Corporate, along with notification that if they do not comply, I will be submitting a complaint to the O.C.C. Maybe that will get some sort of response. We shall see. I will keep you all posted. Also still waiting on responses from most of the PDLs. They have until next week to reply.
Thanks for listening!
V~


[quote]January 15, 2008

Chase Bank
1111 Polaris Pkwy.
Columbus, OH 43240

To Whom It May Concern:

RE: Account Number XXXXXXXX


This letter is to inform Chase that any and all ACH debits made to this account after November 12, 2007 must be reversed immediately. Also, any NSF charges, returned item charges, etc. must be refunded to me as the bank is in the wrong and this account would have not become overdrawn if Chase would have adhered to my request in the first place. Chase is still allowing these debits to process through the account over and over again. These companies are not authorized to send through debits on my account. This constitutes fraud.

On November 12, 2007, I notified Chase that I had revoked authorization for several companies to send ACH debits through my account. I have this in writing. I also have in writing where I was told if any of those debits went through, all I would need to do is contact the Claims Department to dispute the ACH debits. When I was finally able to get through to a person in that department, they told me that I could not revoke ACH debits to payday loan companies. Item E of the Electronic Funds Transfer Act clearly states that no company can lend a consumer money and require that it be paid back by reoccurring ACH transactions. So, even if the contract didn????????t state that it was revocable (which each contract contained a clause stating that it was), it still is. I have attached a copy of the document.

Federal law protects me. It is amazing that you have to fight so hard for your own bank to abide by the laws. This issue has gone too far and it needs to be taken care of immediately.

Sincerely,

XXXXXXXXXXXXXXX


Attachment

Per the Electronic Funds Transfer Act:

205.10 Preauthorized transfers.

(a) Preauthorized transfers to consumer's account--(1) Notice by financial institution. When a person initiates preauthorized electronic fund transfers to a consumer's account at least once every 60 days, the account-holding financial institution shall provide notice to the consumer by:
(i) Positive notice. Providing oral or written notice of the transfer within two business days after the transfer occurs; or
(ii) Negative notice. Providing oral or written notice, within two business days after the date on which the transfer was scheduled to occur, that the transfer did not occur; or
(iii) Readily-available telephone line. Providing a readily available telephone line that the consumer may call to determine whether the transfer occurred and disclosing the telephone number on the initial disclosure of account terms and on each periodic statement.
{{10-30-98 p.7369}}
(2) Notice by payor. A financial institution need not provide notice of a transfer if the payor gives the consumer positive notice that the transfer has been initiated.
(3) Crediting. A financial institution that receives a preauthorized transfer of the type described in paragraph (a)(1) of this section shall credit the amount of the transfer as of the date the funds for the transfer are received.
(b) Written authorization for preauthorized transfers from consumer's account. Preauthorized electronic fund transfers from a consumer's account may be authorized only by a writing signed or similarly authenticated by the consumer. The person that obtains the authorization shall provide a copy to the consumer.
(c) Consumer's right to stop payment--(1) Notice. A consumer may stop payment of a preauthorized electronic fund transfer from the consumer's account by notifying the financial institution orally or in writing at least three business days before the scheduled date of the transfer.
(2) Written confirmation. The financial institution may require the consumer to give written confirmation of a stop-payment order within 14 days of an oral notification. An institution that requires written confirmation shall inform the consumer of the requirement and provide the address where confirmation must be sent when the consumer gives the oral notification. An oral stop-payment order ceases to be binding after 14 days if the consumer fails to provide the required written confirmation.
(d) Notice of transfers varying in amount--(1) Notice. When a preauthorized electronic fund transfer from the consumer's accounts will vary in amount from the previous transfer under the same authorization or from the preauthorized amount, the designated payee or the financial institution shall send the consumer written notice of the amount and date of the transfer at least 10 days before the scheduled date of transfer.
(2) Range. The designated payee or the institution shall inform the consumer of the right to receive notice of all varying transfers, but may give the consumer the option of receiving notice only when a transfer falls outside a specified range of amounts or only when a transfer differs from the most recent transfer by more than an agreed-upon amount.
(e) Compulsory use--(1) Credit. No financial institution or other person may condition an extension of credit to a consumer on the consumer's repayment by preauthorized electronic fund transfers, except for credit extended under an overdraft credit plan or extended to maintain a specified minimum balance in the consumer's account.


(2) Employment or government benefit. No financial institution or other person may require a consumer to establish an account for receipt of electronic fund transfers with a particular institution as a condition of employment or receipt of a government benefit.

[Codified to 12 C.F.R. ???? 205.10]

[Section 205.10 added at 44 Fed. Reg. 59471, October 15, 1979; amended at 45 Fed. Reg. 8265, February 6, 1980, effective May 10, 1980; 61 Fed. Reg. 19672, May 2, 1996][/quote]