FlyerTalk Forums - View Single Post - Chase closed my credit card account(s) [Archived 2013-mid 2019]
Old Jul 5, 2018, 3:02 pm
  #2217  
garykung
FlyerTalk Evangelist
 
Join Date: Aug 2009
Location: ZOA, SFO, HKG
Programs: UA 1K 0.9MM, Marriott Gold, HHonors Gold, Hertz PC, SBux Gold, TSA Pre✓
Posts: 13,811
Originally Posted by mafiaa
The chargeback was not frivolous. Why would I do a chargeback of $9 if it was frivolous. C'mon now. They don't like doing chargebacks now it seems. I dont want to sue Chase because I have the Hyatt now. If they decide to close the Chase later, then maybe garykung can be my lawyer.
No one claims the chargeback was not frivolous. Instead, it is a statutory requirement under ECOA:

"(3) because the applicant has in good faith exercised any right under this chapter."

If you filed a legitimate chargeback, then your account was closed afterward, then the ECOA protection will kick in. Otherwise, it is not an issue.

BTW - IANAL. I am simply someone who know too much about law, especially Consumer Credit Protection Act.

Originally Posted by flyer4512
These last few posts are a bit confusing but Chase bought Washington Mutual from the FDIC in 2008. I had a CD I opened at Wash Mu that was closed at Chase

https://www.bloomberg.com/news/artic...nancial-advice
See here for detail:

https://www.fdic.gov/bank/individual/failed/wamu.html

WaMu went into receivership first. Then most of the company was sold to Chase by FDIC. Per FDIC's press release, "JPMorgan Chase acquired the assets, assumed the qualified financial contracts and made a payment of $1.9 billion. Claims by equity, subordinated and senior debt holders were not acquired."
garykung is offline