Grades are also broken down by the financial products offered be each institution. JPMorgan Chase is rated "B" in Mortgages, "A" in Debt Collection, "A" in Credit Reporting, and "C" in Credit Cards. Click on any of the financial products to see how JPMorgan Chase compares.
JPMorgan Chase has received 23,682 consumer complaints since November, 2011 – more than 99% of other banks.
Of those complaints, 99.7% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' JPMorgan Chase meets the 60-day response deadline more frequently than 60.5% of other banks.
After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 22.1% of customers dispute JPMorgan Chase's response to complaints — worse than 66.5% of other companies.
Most of JPMorgan Chase's customers complain about mortgages with the primary issue being "loan modification,collection,foreclosure."
JPMorgan Chase is primarily a commercial bank with an international specialization. JPMorgan Chase is based in Columbus, Ohio and is the largest FDIC insured bank in America.
Naturally larger banks receive more customer complaints than smaller ones. This does not necessarily indicate that a bank is better than another in terms of service and customer support.
However, even after adjusting for bank size and number of customers, JPMorgan Chase receives far more complaints than most other banks. JPMorgan Chase recieves more complaints per customer than 98% of other banks – customers are significantly more likely to file complaints than customers of most other banks.
|#||Financial Product||Sub-Product||Complaint Issue||Complaint Count|
|1||Mortgage||Other mortgage||Loan modification,collection,foreclosure||4,083|
|2||Mortgage||Conventional fixed mortgage||Loan modification,collection,foreclosure||1,643|
|3||Mortgage||Other mortgage||Loan servicing, payments, escrow account||1,528|
|4||Bank account or service||Checking account||Account opening, closing, or management||1,443|
|5||Bank account or service||Checking account||Deposits and withdrawals||1,365|
|6||Mortgage||Conventional fixed mortgage||Loan servicing, payments, escrow account||1,053|
|7||Credit card||Billing disputes||964|
|8||Mortgage||Conventional adjustable mortgage (ARM)||Loan modification,collection,foreclosure||844|
|9||Credit card||APR or interest rate||755|
|10||Mortgage||FHA mortgage||Loan modification,collection,foreclosure||600|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||19,484||19,429 (99.7%)||4,809 (24.7%)|
|2||Closed with monetary relief||2,663||2,659 (99.8%)||340 (12.8%)|
|3||Closed without relief||2,014||2,005 (99.6%)||515 (25.6%)|
|4||Closed with non-monetary relief||1,140||1,137 (99.7%)||167 (14.6%)|
|5||Closed with relief||817||817 (100%)||81 (9.9%)|
|6||Closed||528||527 (99.8%)||118 (22.3%)|
|7||In progress||130||130 (100%)||0 (0%)|
|8||Untimely response||3||1 (33.3%)||0 (0%)|