Bullion Trading LLC, a precious metals company, is suing JPMorgan Chase Bank, N.A. for alleged damages of more than $500,000.

The complaint alleges that Chase has repeatedly blocked or reversed legitimate inbound wire transfers from its accountholders to Bullion Trading’s business account at Waterfall Bank.

The plaintiff claims that, without any lawful basis, Chase’s employees or representatives have labeled Bullion Trading as “fraudulent” or “scam”-related when communicating with plaintiff’s customers, thereby causing significant financial losses, business disruption, and reputational harm.

Despite Bullion Trading’s efforts – i.e., contacting Chase Executive Offices, filing regulatory complaints with the Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB), and seeking an amicable resolution – Chase’s conduct has continued unabated.

The plaintiff alleges that, as a direct result of the defendant’s actions, Bullion Trading has suffered damages in an amount exceeding $500,000 and now seeks relief through the Court.

On July 22, 2025, JP Morgan published a Notice of Removal of the case from the Supreme Court of the State of New York, County of Rockland. The lawsuit is now about to proceed in the New York Southern District Court.