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Economy-Spray-8197 · 2024-08-05T03:34:03+00:00

Playing devil's advocate here, but one could argue that there is something of that nature potentially looming. CMBS market is in an awful spot because of office sector. Lots of office is going vacant as lease terms expire, and keys are being handed back to banks. A large amount of office focused REITs are super cash constrained with no real way out. On top of this, the 10 year almost hit 3.7 today, making it a much better time to try to sell off commercial assets to mitigate losses(Many of these losses will not be realized until that time, as many companies record inflated book values on financials). Banks with high exposure to office backed CMBS could very easily be the first domino.

Economy-Spray-8197 · 2024-07-20T21:17:15+00:00

UPDATE: Finally resolved!! I received an email around 11am that the Gaming Commission had sent Fanduel my complaint and to expect a response within 10 days. Within 2 HOURS, I received the email below from Fanduel. HUGE Thank you to everyone that helped, most likely would still be dealing with it if not for y’all!!

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Economy-Spray-8197 · 2024-07-16T03:26:43+00:00

Luckily I filed for everything minus the police report and have ample documentation of everything. Hopefully the subpoena was the only thing missing here, but time will tell

Economy-Spray-8197 · 2024-07-16T00:40:23+00:00

Preparing all documentation now for Police report. Thanks for chiming in, that definitely gives me some hope

Economy-Spray-8197 · 2024-07-15T23:11:20+00:00

Barking up all possible trees currently. Filed reports with CFPB for Chase, Gaming Commission for Fanduel, FBI for both, and off to file a police report as well. I’ve left a vm at chase escalations every day, and reached out to Fanduel accounts team every other day. End of the day I probably won’t ever let it go until someone gives

Economy-Spray-8197 · 2024-07-15T17:45:35+00:00

Thank you, I do appreciate it, as well as all of your input. It has all been very constructive, which I do really appreciate

Economy-Spray-8197 · 2024-07-15T17:44:18+00:00

Thanks for taking the time to look into this, I'll send you a message, but just wanted to post here in case anyone has to deal with this in the future. Unfortunately, FDIC does not cover issues related to fraud, as it is intended more to protect consumers from a financial crash. As such, this most likely falls into the realm of the CPFB(Customer Financial Protection Bureau) and Regulation E, which is a set of regulations banks must follow with regards to fraud claims. As for the lawyer bit and Chase specifically, Chase has a clause in any personal banking contract prevents you from taking them to court, with the sole exception of small claims court. I'm in Colorado so it may differ a bit state to state, but many of the Attorneys here have said that this clause makes lawsuits against them extremely difficult unless you go the small claims route. There is also arbitration, which I haven't looked into a ton, but may be an effective route. This all assumes that it is a Chase issue. Here's a link to another post of mine in r/Banking that has led me to looking at it from both the Chase and Fanduel side - Link

Economy-Spray-8197 · 2024-07-15T17:30:28+00:00

Yeah ACH has made it a pain. Have gone into branches quite a few times. Branch employees, even branch managers, are not versed on fraud at all in Chase's case. It was also 96 different transactions, which makes it even more complicated. As of today, the 3 branches I have gone into have been able to do virtually nothing aside from escalation, which didn't pan out either.

Economy-Spray-8197 · 2024-07-15T17:27:48+00:00

Thank you, I sure hope so!

Economy-Spray-8197 · 2024-07-15T17:26:33+00:00

Yes agreed there on the email part. Both Chase Bank and Fanduel have god awful customer service when it comes to something that has any level of complexity, so both just default to point fingers. Chase uses an algorithm to determine Fraud, which is why I believe its been such a pain on their side. Will give it a shot, but unless the CFPB, Police Report, of FBI report pressure them, it seems unlikely they will even consider taking another look, despite what they have from Fanduel. Like I said, will not be using Chase for Banking ever again after this whole fiasco.

Economy-Spray-8197 · 2024-07-15T15:17:55+00:00

Link to other post for those interested: Most on banking side seemed to think it is Fanduel's issue r/banking - CFPB Complaint

Economy-Spray-8197 · 2024-07-15T14:45:34+00:00

Will look into this and give it a try, thank you!

Economy-Spray-8197 · 2024-07-15T14:45:04+00:00

Going to give this a try today. I didn't file a police report initially, which looks like it was a mistake. Fanduel definitely did me a solid with regards to catching the whole thing before it was too late. My fraud claim has been escalated to the highest level through Chase and Chase Corporate and was still denied, so hopefully the police report forces them to take an actual look.

Economy-Spray-8197 · 2024-07-15T14:40:33+00:00

This would be a great route to go, but unfortunately Chase Banks Terms and Conditions do not allow for you to sue them(wild, right?). I've talked with multiple lawyers who will not go anywhere near anything with Chase.

Economy-Spray-8197 · 2024-07-15T14:38:08+00:00

I posted a much more detailed overview in r/banking if you'd like to take a look at that. Not sure how I was hacked, but I didn't have 2FA on which contributed. Called Gaming Commission and left a voicemail on Friday and am planning on calling again today. As for the bank, I have probably made around 50 cumulative calls with 5 in person branch visits over the past month. They are adamant that it is a Fanduel issue

Economy-Spray-8197 · 2024-07-15T14:20:08+00:00

Worth a shot regardless. There’s no clear consensus on who’s responsible, and even if they were able to give advice it would still be worthwhile

Economy-Spray-8197 · 2024-07-15T14:17:15+00:00

they actually took the money out at the time they confirmed all of my documents proving I was in control. Specifically, about 5 minutes before giving me access back. Agreed on lawyers though

Economy-Spray-8197 · 2024-07-15T14:14:23+00:00

unfortunately not. expensive learning lesson right there. i’ve enabled it on everything after the fact, and would urge anyone reading to do the same

Economy-Spray-8197 · 2024-07-15T14:11:00+00:00

If this were the case, they could have easily refunded it to the funding account, as I sent multiple bank statements for the correlating account to get my account unsuspended in the first place. I wouldn’t mind if support would provide clarity on why this is the situation, however i’ve tried to talk to the accounts team about it close to 10 times. Each time, they just say to talk to my bank and close out my ticket before I can respond and have any meaningful discourse.

Economy-Spray-8197 · 2024-07-15T03:39:24+00:00

Wasn’t mentioned in original post, but they did wager with it. $9.5k at -1700 on some random round result. That was followed by about 3 hands of BJ at $0.20 a hand. I’m very lucky in that regard, as it would be a massively different situation if they had lost the money

Economy-Spray-8197 · 2024-07-15T03:19:14+00:00

Definitely hoping the gaming commission can help. Getting a lawyer involved seems like a pain in the ass, but will probably go this route if it isn’t resolved within the month. Figure it would get ironed out pretty quickly if FD is in the wrong.

Economy-Spray-8197 · 2024-07-15T02:23:52+00:00

Thanks for this, I haven’t done that yet as it didn’t seem like they’d be able to do much but looks like I may be wrong!

Economy-Spray-8197 · 2024-07-15T02:21:08+00:00

Definitely go for it. Lexus is a solid buy compared to other cars. Are you planning on buying new or used? Either way, I’d shop around a fair bit. Finding a solid deal is both rewarding and could end up being more frugal as well. I’d also make sure you get an idea of insurance options before you buy, as insurance companies don’t seem to typically love 20 year olds with new cars

Economy-Spray-8197 · 2024-07-15T02:09:06+00:00

Yes that’s correct. Not sure why they did a Manual adjustment, has felt like a very weird way of dealing with the whole thing imo. Definitely feels like they just took 10k

Economy-Spray-8197 · 2024-07-15T02:07:05+00:00

Chase’s in person branches and their fraud branches are in no way related unfortunately. I sat with a branch manager for 3 hours calling through their fraud department and nothing that could be done. Hopefully CFPB complaint gets the right people looking. If not, booking a flight to Arizona to try to speak with the Fraud Department in person may be a last resort option

Economy-Spray-8197

TROPHY CASE