| Funds from
Stripe Disappear Into JPMorgan Chase Which
Says Tough Luck and Feel Free to Write
Jamie Dimon
By Matthew
Russell Lee, Patreon Maxwell
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BBC-Guardian
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SDNY COURTHOUSE,
May 18 – The world of online
payments and subscriptions,
with the Consumer Protection
Bureau and a new
Administration, was supposed
to be smoother, at least as to
banks and other financial
institutions.
But on May 17, at
least for Inner City Press, it
resulted in a two hour call
with JPMorgan Chase customer
service, culminating a
statement of there is nothing
Chase can do, you can write to
the Executive Office, Jamie
Dimon, if you
want. So
this is it.
Inner City
Press, beyond its free
website, Substack and Twitter
feed, posts paid articles on
Patreon.com.
On May 11
it hit "payout," to a Chase
account as it happened. The
website immediately said
Successful, via Stripe, to
JPMorgan. Only no
money arrived, six days later.
Stripe said they
couldn't or wouldn't engage
with a non-customer. So Inner
City Press called Chase.
Twice. There was a man named
Ali, then a woman named
Nashim. Then a Chase
representative in the claims
department who said he had
never heard of Stripe.
His
supervisor, a woman who said
her name was Sharon but
refused to give a last name,
had also never heard of
Stripe. She insisted that
unless Inner City Press could
get the tracking number from
Stripe - which won't give it -
nothing can be done.
She said no one
else was available, to write
to the Executive Office. She
said there might be a call
from an unnamed manager,
during the day when Inner City
Press said it could not take
the call.
On the
afternoon of May 18, while
Inner City Press was covering
a (bank fraud) trial,
a Chase claims department
manager who said his name was
Sean, no last name, called and
repeated again and again that
without a 15 digit tracking
number from Stripe, Chase
could or would do nothing. He
said Chase wouldn't contact
Stripe, even as he was told
Stripe wouldn't answer to a
non-customer. He hung up.
So, Jamie Dimon,
how is this
acceptable?
Stripe is a
fintech, perhaps
under-regulated. But JPMorgan
Chase is an insured bank,
bailed out by the taxpayers,
ostensibly regulated by the
Federal Reserve and Office of
the Comptroller of the
Currency of Michael Hsu, and
overseen by the Consumer
Financial Protection Bureau.
Mention of the
CFPB had no impact. The
Federal Reserve is dismissive
of the import of consumer
complaints.
And so it has
come to this: theft by banks,
and writing to Jamie Dimon.
Watch this site.
***
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