Chase says it doesn’t have insurance to recover funds lost to scams. But two women say they lost money despite alerting Chase Bank with enough time to save...
Chase says it doesn’t have insurance to recover funds lost to scams. But two women say they lost money despite alerting Chase Bank with enough time to save the funds.
Retired Dallas Independent School District administrator Shirley Ison-Newsome, 75, has sued Chase, alleging her bank account was drained by more than $51,000. She is seeking monetary relief of up to $250,000. “I worked all my life,” she said. “I paid my bills on time. I tried to do the right thing. I’ve been with Chase for over 20 years, and I trusted Chase.”“It has taken an emotional, physical and financial toll on me,” she said. “It’s devastated me.”
“Chase and other institutions like Chase need to own up to their negligence,” she said. “In this society where the vulnerable are preyed upon - the elderly and women - they need to be much more sensitive to that and not add to the preying.”that the number of seniors scammed has “risen at an alarming rate, while the loss amounts are even more staggering.” In 2021, some 92,000 victims over the age of 60 reported losses of $1.7 billion, about a 75% jump from the losses reported in 2020.
About a week later, Lopez called Chase and learned the fraud claim had been denied. She said she was told nothing could be done about it because, like Ison-Newsome, she had fallen for the scam and authorized the transfer.
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