After Funds
from Stripe Disappear Into JPMorgan Chase,
No Help But Strange Call From Exec Office
xwell
Book
BBC-Guardian
UK - Honduras
- ESPN
NY
Mag
SDNY COURTHOUSE,
May 20 – 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.
Inner City
Press filed a complaint with
the CFPB and tweeted out this
article. On May 20 during
work, a call from JPMorgan
Chase. But it was not to help.
The woman began, We wrote to
the Executive Office --
"No, not yet."
It turned out the
call was triggered by the
tweet, and it was not to try
to do a better a job. In fact,
it was akin to a threat. The
person from the Chase
Executive Office thought that
Stripe is a bank, and when
Inner City Press asked if
Chase calls Elizabeth Warren
about her tweets said she
didn't know who that is.
"Well,
tell Jamie Dimon to try to
make sure his staff don't hang
up on customers, before
seeking another $53 million."
"I'll write that
down," the woman from Chase
said. To what end?
And so it has
come to this: theft by banks,
and writing to Jamie Dimon.
Watch this site.
***
Your support means a lot. As little as $5 a
month helps keep us going and grants you
access to exclusive bonus material on our
Patreon page. Click
here to become a patron.
Feedback:
Editorial [at] innercitypress.com
SDNY Press Room 480, front cubicle
500 Pearl Street, NY NY 10007 USA
Mail: Box 20047, Dag
Hammarskjold Station NY NY 10017
Reporter's mobile (and weekends):
718-716-3540
Other, earlier Inner City Press are
listed here,
and some are available in the ProQuest
service, and now on Lexis-Nexis.
Copyright 2006-2022 Inner City
Press, Inc. To request reprint or other
permission, e-contact Editorial [at]
innercitypress.com
|