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people are shut down for violating tfr rules for UR points and other stupid behaviour (massive MO/other cash equiv. deposits)- those are justified. however, many are shut down for harmless behaviour that, if chase had only talked to the person, they could have requested documentation to answer any perceived questionable deposits/actions. however, CHASE DOESN'T DO THAT. they don't care about your input and they don't review anything. shoot first and ask/answer no questions later. they will NOT tell you why they shut down your bank account. but rest assured, all your other accounts are gone too.

i think it's too much power with no explanation. when a bank shuts an account and reports to Chexs, it causes problems- they should have to document what you did, and offer you a chance to counter their position.

to go with the impact on your credit and chex, chase also has a monopoly position with regards to several hotels and airlines. yesterday, you had Plat status with UA because your 25k in spend on your Chase UA account waived EQD. today (well, next year), you're back to general member. same for Plat HY, IC, Gold Mar/RC, etc. Plenty of people who did no MS and did nothing shady have been shut down.

Yeah, Chase can do business with who they want. However, with all the collateral damage to an individual with their monopoly arrangements, etc, they wield quasi-government power. it's too much for some low to mid level worker to be allowed to make decisions where even the XO people won't intervene to suss out a tangible reason. who knows, the reason may be that the 27 year old who closed all your accounts needed to hit his quota, and lowered the bar, or his x just unfriended him. mafia kingpins have to answer more for their actions than chases LP dept.

People (like me) can say the Amex FR is way overly intrusive with the tax return nonsense, BUT... to their credit, it's interactive. I'd bet that Jamie Dimon doesn't know how poorly such closures are handled. Some memos went down the chain about being vigilant about $ laundering/etc and the mid level managers ran with it and have their subs overreacting, is my guess. so they're throwing the net in the water and not caring how many dolphins are killed; assuming the majority must be tuna.

- Flipper