When you receive a new credit or debit card in the mail, it usually arrives in need of activation. You have to call a number and verify some information: sure, no information that a determined identity thief wouldn’t already have, but at least it stops random passers-by from harvesting credit cards from mailboxes. Only pre-activated cards are a new trend in banking again. Some customers aren’t thrilled. [More]
Have you ever received a spam e-mail advertising a penny stock, and assumed that it came from a general junk mail list, or someone simply typed out a list of randomly-generated addresses? Criminal charges announced today revealed that the perpetrators of a stock fraud scheme obtained e-mail addresses to contact by exploiting the Heartbleed bug to steal the names and e-mail addresses of about 80 million customers from JPMorganChase. [More]
“Needless to say, you’re not going to be able to use this ATM this morning,” observed a TV reporter standing in front of the Orlando, Florida Chase branch where an automated teller machine was ripped from the building. No. No, you’re not. [More]
How mighty brands fall. Bad leadership, bad planning, a run of bad products: any of these can damage a brand in a short amount of time, and it can take years to recover: if, indeed, the brand recovers at all. What brands are the most battered in the United States right now? 24/7 Wall Street rounded them up, based on which publicly-traded major companies are currently dealing with aggressive competition, reputation disasters, and a lack of direction.
Late last year, Dennis got a new phone number. That shouldn’t be anything to complain about, and indeed he has no complaints about his mobile carrier or about his new phone. The problem is that Chase Bank keeps calling him about his account balance, which he would appreciate if he actually had an account with Chase or a low account balance. He does not. [More]
The last week has been great for Jamie Dimon, CEO of JPMorgan Chase, or would be if he were a regular reader of Consumerist. Last Thursday, our readers voted his company to be less terrible than Bank of America in our annual Worst Company in America tournament. Today, our readers declared him to be the official Sexiest CEO in America! [More]
Banks are no strangers to cyber assaults on the sites customers use to access accounts, and it appears JPMorgan Chase was the most recent victim of such an attack yesterday. The bank said last night it was working to restore normal service after an unspecified amount of down time during the day.
Elizabeth wishes that Chase would stop sending her emails. They’re not spam, exactly: she used to be a customer. But she’s getting e-mails as if she still had accounts there, and she closed hers more than a year ago. She was afraid that it has gone zombie: that is, that it’s been mysteriously re-opened without her permission to make unwanted payments and devour her credit score. [More]
Kyle really liked his Nook…until it decided to freeze up and no longer work. He was unhappy: it was only two months out of warranty, and he didn’t like the only option that Barnes & Noble presented: trading the non-working device in for a relatively small discount on a brand-new replacement. He had purchased a lot of books he uses every day for work on the Nook platform, and decided to take a loss on those and get a Kindle instead. Unhappy with the whole experience, he vented to us about it.
For anyone who’s ever had to take out $40 at an ATMwhen all you really needed was $25 and maybe your account balance is low enough that the higher amount causes a sticky situation, get excited. There are reportedly hundreds of new ATMs dotting the country that now dispense $1 and $5 bills so you can grab exact change when you need it. [More]
Exec Who Looked Other Way As Countrywide Sold Off Bad Mortgages Is Now Running Chase’s Foreclosure Review Dept.
The federal government recently filed a lawsuit over a Countrywide scheme dubbed “The Hustle” that removed impediments to a mortgage approval so the company could sell as many mortgages as possible to Fannie Mae and Freddie Mac. Now comes news that a Countrywide exec who ignored warnings about the Hustle is currently running Chase’s foreclosure review initiative. [More]
If big banks weren’t at the root of so many problems, maybe we’d be starting to feel the tiniest bit bad for all the trouble they’ve been getting into lately with authorities. But yeah, we don’t feel the slightest twinge of sympathy that regulators are reportedly about to start cracking down on a few big banks for money-laundering.
Over the lifetime of Consumerist, we’ve written a number of stories about so-called zombie bank accounts, where a consumer finds out their closed account has been re-opened without their knowledge or approval, usually after some third party attempts to make a direct deposit or debit on the dead account. If you were a Chase bank customer and your account was resurrected from the grave, we’d like to hear from you.
The way younger generations are glued to their smartphones, there’s almost nothing they can’t do with the swipe of a touch screen. Old-fashioned things like writing checks or even paying a roommate with cash is such a bother to some, but yet transferring money to other people with apps hasn’t really caught on like the banking industry figured it would. That’s why the nation’s big four are discussing how they can link up their payment systems to make it easier for consumers to send money via mobile devices or even emails.
Getting a mortgage modification has been hard enough for homeowners, what with disorganized big banks not having enough well-trained people on staff to deal with the necessary ins and outs of the process. But a new study says that things should’ve been easier under the Home Affordable Modification Program and resulted in 800,000 fewer foreclosures than we ended up with.
While we’ve seen many a story during the last few years of people stuck chasing their tail in an attempt to get a mortgage modification from their lender, some Chase customers are now finding out they’ve gotten a loan adjustment without ever having to lift a finger.
Jason began his holiday weekend with an unpleasant surprise. When he checked his bank account on his iPad, he saw that it was overdrawn. It was overdrawn by a lot. More than two thousand dollars. Jason hadn’t made any huge withdrawals from his account, and neither had any other authorized person. Was he the victim of identity theft? Fraud? ATM skimmers? How could someone take out money that wasn’t there? It turns out that it was quite easy: it just required a one-digit error in the account number.
Despite the horror stories and the trials and tribulations we endure every day with banks, consumers are still getting some satisfaction (as opposed to no, get it) from our credit cards. In fact, we’re more well pleased with our cards than we have been at any time in the last six years. This sense of contentment seems simply to stem from the fact that banks have settled on terms for the cards stopped hitching up fees.