Date Received: 2023-12-04
Issue: Problem with a purchase shown on your statement
Subissue: Credit card company isn't resolving a dispute about a purchase on your statement
Consumer Complaint: On XX/XX/XXXX I responded to a fraudulent charitable solicitation on the internet. It did not come from a genuine charity, but from a scam artist. I charged {$150.00} on my credit card as a charitable contribution. I then made a written claim on XX/XX/XXXX asking the credit card company to cancel that charge. At that time, I gave several pieces of evidence that the solicitation was fraudulent. The company asked me to provide credit care receipts for my " purchase '' and also to call the on-line recipient of my funds to see if they would " remedy '' the problem. I responded to the credit card company ( both in writing and orally ) that there was no use in calling the recipient of the funds because they were scam artists, not a real charity. Subsequently, I received notice from the credit card company that they were denying my claim because I had willingly charged {$150.00} on my card. On XX/XX/XXXX I spoke to a supervisor in the Tennessee office of the credit card company ( person named XXXX ) explaining- again -that I was complaining about a fraud, not a complaint about merchandise or services. He said he could not help me. I asked to speak to a manager to continue my appeal. The supervisor said a manager would call me back in 24 to 48 hours but they never called back.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: 20902
Submitted Via: Web
Date Sent: 2023-12-04
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-04
Issue: Closing an account
Subissue: Funds not received from closed account
Consumer Complaint: Dear Consumer Financial Protection Bureau, I XXXX XXXX XXXX is requesting an investigation to be conducted on behalf of myself and Bank of Americas BOA clients. Based on the interactions with BOA Representatives, I believe this business is engaging in unethical practices and unlawful discriminatory behaviors resulting in clients economical inconvenience and further financial hardship. On or around XX/XX/XXXX, I submitted a check via mobile device into my business checking account and it appeared to be available for use after approximately a week. I attempted to pay for a bill and was unsuccessful. I contacted the Bank of Americas customer service to investigate the issue. BOA Representative communicated that my account was scheduled for closure and that the bank will issue a check with the remaining account balance. BOA Representative stated that the check will be sent by mail. During my customer service call, there was an authentication process. I provided my passport number, email address, and a secret code that was sent by the BOA Representative only to be told that I needed to go into the bank to be further authenticated. I understand the need for authentication process, however, believe after giving a social security number, passport number, an access code provided by BOA Rep should be sufficient information to discuss account with client. I submitted a complaint with BOA to implement a process improvement plan for their authentication process. Furthermore, I was given inconsistent information regarding the status of my account by a representative. The Representative stated that this is information that was provided to them in their database. I updated my mailing address by phone with BOA Representative ( XXXX ) XXXX XXXX XXXX On or around XX/XX/XXXX, I met with BOA Business Advisor ( XXXX XXXX XXXX in XXXX, XXXX. We discussed my account and BOA closure account representative was contacted. I learned that BOA committed an administrative error and sent my check to the wrong address. I was told that the check was cashier check and they had to wait until the check was returned and they will issue a new check after 121 days. I asked if they could cancel the check and reissue a new check. I was told no. I asked if they could expedite this issue for faster resolutions and I was told no. BOA Representative stated that they could only issue a new check after 121 days which is around XX/XX/XXXX. It is unfortunate that I could not resolve this matter at the bank level with first point of contact representatives or even with next in line leadership. Im extremely surprised that this bank does not have a strong sense of urgency and an escalation process to resolve these kinds of issues quickly. Holding, freezing, and ceasing clients funds cause economic inconvenience. Customers are unable to pay their bills and use funds for personal use until there is a resolution which could take several months. There should be something in place to resolve cases quickly to mitigate risk with a service level agreement with clients. The actions by BOA Reps clearly show some operational inefficiencies along with unethical practices in place. At one point, I was invited to BOA secret advisory panel to help them improve their operations and customer service processes. I was extremely busy with other board commitments and could not add another committee. I want my grievances to be investigated and leadership need to move forward with corrective action immediately. There should be a way for them to send my money faster than 121 days. Coaching needs to be issued up to termination for this administrative error. Im sure employees want their salaries and wages issued on the day their employers committed to paying them. We dont want any payroll issues. Furthermore, everybodys bank accounts should not be frozen until this issue gets resolved. This is the kind of behavior that causes people to understand economical inconvenience. This XXXX XXXX behavior is triggering and should be concerning regarding the public safety and the public money homes. Please investigate this issue and let us know if we need to keep our money in a Mesopotamia shoebox again and set up food shelter in our basements. Respectfully submitted, XXXX XXXX, XXXX Founder and CEO, XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: 604XX
Submitted Via: Web
Date Sent: 2023-12-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-04
Issue: Opening an account
Subissue: Unable to open an account
Consumer Complaint: I want to make you aware I submitted a copy of this complaint to my attorney ( XXXX XXXX XXXX ). I opened a business account on XX/XX/2023 for XXXX XXXX XXXX. I received my business debit cards and attempted to activate them last night and was unable to do so. I also could not log on to my online account. I called small business customer care this morning and was told I need to go in and verify myself and I will have access to my account. I went in to the branch XXXX XXXX XXXX XXXX, Pa XXXX. At the customer service counter I was told that the account was closed and no other explanation was given. Which made no sense to me, I didn't receive any emails, phone calls or texts from Bank of America before hand. So I left frustrated and immediately called small business customer service back. The representative asked me was I given an explanation I replied no she stated they closed it at the branch you just visited. Now I am livid, I showed my ID, XXXX XXXX and XXXX XXXX XXXX for the business on what grounds was it closed? No explanation was given, I was simply told they have the discretion to do so. Which is unacceptable without giving the consumer explanation. I went back to that branch to speak to the XXXX, XXXX XXXX, XXXX XXXX XXXX. I was very upset at this point. I was feeling misled and discriminated against. The manager explained in detailed that my account was documented on XX/XX/2023 that I had XXXX hours to go to branch and verify my identity and XX/XX/2023 the account was closed based on unable to verify identity. I had no correspondence pertaining to this XXXX hr window. My account was noted for me not to call customer support. No email, no calls or texts from Bank of America so how was I supposed to know this? I currently have another business account with BOFA and this was not the requirement for opening that account. It wasn't until I went back to the branch to speak with a manager before I would get the detailed explanation I should of gotten. In conclusion, I didn't get an apology or the issue hasn't been rectified. I was told at the branch that they could open an account it will be a XXXX hr wait time. This drastically affects my business today a wire transfer from another company was suppose to come in in the amount of XXXX. Which now this business opportunity is put on hold. XXXX XXXX maintains these deposits at least twice a week. We was considering moving all our business to BOFA. This looks very unprofessional on my behalf to the other company. With that being said I am filing an complaint with the CFPB as well as XXXX for the unsatisfactory business practices and how I was treated as a consumer. I no longer want to Bank with this company. We are also looking into further litigation with this matter. This took hours out of my day, I missed an important meeting this morning trying to get to BOFA to straighten my account. This was unacceptable business practice. I look forward to your response. Thank you in advance for your time and consideration with this matter.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 19136
Submitted Via: Web
Date Sent: 2023-12-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-04
Issue: Incorrect information on your report
Subissue: Information is missing that should be on the report
Consumer Complaint: On XX/XX/2023, I received a letter from Bank of America informing me that it has decided to close my A/c # XXXX, after more than 14 years of mutual business and on time payments. The letter stated : '' After a review of your account, we determined your risk profile no longer aligns with our risk tolerance ... ''. I attempted to contact B & A via phone, emails and registered mail trying to fine out the reason for their decision, but they responded that they do NOT have to tell me the reason. I've accumulated over XXXX in cash rewards balance on previous transactions using this account, which would be converted into an actual cash. I wrote them a registered mail letter making the following requests : XXXX ) credit my account with the two charges from XXXX which add up to almost over {$220.00} ( I've received emails from XXXX advising me that they have credited my account ) ; XXXX ) Re-instate my reward points and convert them to cash value towards my current balance. Then, I'll be willing to pay any outstand balance that was sent by XXXX to my account, which makes the reported information INACCURATE! It's a travesty when a financial institution acts like a COWBOY without any regards to ethical and integrity standards!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 94577
Submitted Via: Web
Date Sent: 2023-12-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-04
Issue: Problem with a purchase shown on your statement
Subissue: Card was charged for something you did not purchase with the card
Consumer Complaint: 7 fraudulent transactions were made on 7 consecutive days, each for the amount of {$980.00}. They were made in California, apparently using a chip credit card XXXX Bank of America ) owned by my wife 's sister, who lives in Virginia. The sister was in Virginia during the time the frauds were committed. We have proof, including a receipt of a transaction she made on the first day of the fraud. We also have proof that she was in possession of the card during the times of the fraud, and that she didn't loan her card to anyone before, during, and after the frauds were committed. After several months, We received, from Bank of America that Thay have concluded that we were responsible - based on their conclusion that the card was used by my wife 's sister because she apparently also keyed in the cards pin number. Bank of America provided not additional information as to their investigation into this issue. During this time we provided to them all of the information and proof we had. They did not cooperate with us, such as detailing their investigation. That simply mailed us a letter that was an exact copy of their first resolution. We are currently waiting - after 2 months for their third resolution, which we know will be the same as the first two letters. What can we do to resolve this issue?
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 92563
Submitted Via: Web
Date Sent: 2023-12-04
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-04
Issue: Managing an account
Subissue: Fee problem
Consumer Complaint: I learned that BOA only credits .05 % on savings account balances, which is egregiously low in this interest rate environment. I can somewhat tolerate a low interest rate on a checking account as it provides free checking, automatic deposit, and overdraft protection. But what exactly is the purpose of the BOA savings account? Why should anyone put any of their hard-earned money into this product?
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 334XX
Submitted Via: Web
Date Sent: 2023-12-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-04
Issue: Closing on a mortgage
Subissue: Closing disclosure or other related disclosures
Consumer Complaint: I am near closing of a mortgage with Bank of America. At some point during the application process, my rate was locked at 7.75 %. Prevailing mortgage rates have since fallen substantially. I asked if my rate could be reduced prior to closing. Response was that I had locked my rate already, however they can not show me a document where I signed off on the rate lock in advance. They tell me that it was discussed in a recorded call, but will not send a transcript or the audio file so that I can confirm, and I have no recollection of this discussion. Their evidence of written acknowledgement is some disclosures and loan estimates given after the fact, which only evidences a fixed rate - but again, no fulsome discussion or clear rate lock agreement ahead of time. Further, they acknowledged a " float down '' process whereby rates can be reduced, however they require a 75 basis point reduction in what they determine " market '' before such reduction would be allowed. This is a practical impossibility, as the likelihood of a 75bp reduction within the time of a real estate contract is virtually impossible. This is arbitrary and unclear. And the end result is that Bank of America is gaming its clients for additional interest earnings spread. The net combination of these factors and activities leads to conclusion that Bank of America is AGAIN acting in bad faith and is predatory in its lending policies.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 78758
Submitted Via: Web
Date Sent: 2023-12-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-04
Issue: Closing your account
Subissue: Company closed your account
Consumer Complaint: On XX/XX/XXXX someone got access to my bank of America app online and made a XXXX payment from my checking acct. I don't have XXXX in my checking so it made me negative. I called my bank and got ot taken care of and all.pf a.sudden bank of America my credit card closed my account without telling me. And then my XXXX and XXXX XXXX was closed because of the fraudulent activity. It was fraudulent not my fault that's why I reported it and all of a.sudden they just start closing all my accounts and my credit score is hitting g rock bottom
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 959XX
Submitted Via: Web
Date Sent: 2023-12-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-05
Issue: Problem with a purchase shown on your statement
Subissue: Credit card company isn't resolving a dispute about a purchase on your statement
Consumer Complaint: After the Bank of America contacted me about my stolen CC card from the XXXX card and provided me with the information that my card was being used in New Jersey, I verified that I had not received the card, used it myself, or had not authorized anyone else to use my card. The card was stolen in the USPS system and was never delivered to me in XXXX at my address : XXXX XXXX XXXX. XXXX XXXX, XXXX, NY XXXX. The card was also activated by Bank of America and was ready to use for any transaction, which I did not know about or agree to. I have filed a claim with the FTC report XXXX. In addition, I have opened a case with the Postal Service, Inspector General to investigate the theft of mail, which occurred between XX/XX/XXXX and XX/XX/XXXX. Also, I have reported this to the XXXX to let them know that the Bank of America is not following guidelines for crediting me back for fraudulent charges on my account due to theft. The bank sent me a new card with the same activated conditions. The 2nd replacement card was active and ready to use upon receipt. No security or verification was added to the 2nd CC card the bank sent. Then after I opened the new account and set up the BoA app., the bank sent a resolution letter stating that they can not credit me for the fraud and I would be responsible for all fraudulent charges on the account. Bank of America is not honoring the rights of its cardholders and refunding fraudulent charges due to their own incompetence. Sending active CC cards in the mail with no security or verification settings is simply not OK!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 11215
Submitted Via: Web
Date Sent: 2023-12-05
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-05
Issue: Opening an account
Subissue: Account opened without my consent or knowledge
Consumer Complaint: I've invested significant time attempting to close a fraudulent business account at Bank of America. Despite the bank acknowledging the fraud and promising closure, they've clung to the account for months. Shockingly, Bank of America appears to be pressuring additional information from us and other victims, a demand not mirrored by other banks in similar circumstances. This insistence raises concerns about whether BOA collaborates with hired fraudsters or exploits fraudulent accounts to potentially inflate legitimate BOA account numbers, thereby defrauding BOA investors. It's a deeply troubling business practice.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 94545
Submitted Via: Web
Date Sent: 2023-12-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A