Date Received: 2023-10-12
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: My bank did a temporary credit reversal of {$990.00} and Bank of America didnt have any answers as to why they did this
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 19426
Submitted Via: Web
Date Sent: 2023-10-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-13
Issue: Opening an account
Subissue: Account opened without my consent or knowledge
Consumer Complaint: I am writing to report a concerning incident in which an account was opened with Bank of America without my consent. I have recently discovered that an account was established in my name, and I had no knowledge of or involvement in this process. This unauthorized account raises significant security and privacy concerns, and I am deeply troubled by this breach of trust. I kindly request your assistance in investigating this matter and taking appropriate action to rectify the situation promptly. Your prompt attention to this issue is greatly appreciated.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33161
Submitted Via: Web
Date Sent: 2023-10-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-13
Issue: Problem with a lender or other company charging your account
Subissue: Can't stop withdrawals from your account
Consumer Complaint: Dating back to about XXXX XXXX my acct was charged excessively. After coming back from an international trip XX/XX/XXXX th I seen small charges in increments. Then XXXX and XXXX XXXX started with taken money out of my acct Dear CFpb, I am writing to file a formal complaint against Bank of America and XXXX regarding the frivolous charges and lack of consumer protection I have experienced with my account over the course of one year. I believe that both Bank of America and XXXX have engaged in predatory practices that have resulted in significant financial losses, totaling at least {$5000.00} within the mentioned timeframe. I could have invested money on Public and private markets and would like a full scope into Bank of America. As a customer of Bank of America, I have always relied on the institution to handle my financial affairs with transparency and integrity. However, during the period in question, I have encountered numerous charges on my account that I can not comprehend or justify. Despite my efforts to seek clarification and resolution, I have been met with inadequate explanations and a lack of assistance from Bank of America 's customer service representatives. Furthermore, during this time, I have noticed a significant increase in the number of fraudulent or misleading reviews on XXXX, a platform that I have relied upon for making informed decisions about various businesses. These reviews have led me to engage with establishments that have proven to be untrustworthy or have charged me for services that were not rendered as promised. It is evident that XXXX 's lack of consumer protection measures has allowed for the proliferation of false and misleading information, leading to financial harm for consumers like myself. I am aware that there was a class action lawsuit against Bank of America during the same period in which I experienced these issues. This further highlights the systemic problems within the institution and the urgent need for intervention to protect consumers from predatory practices. I kindly request that the Consumer Financial Protection Bureau thoroughly investigate the actions of both Bank of America and XXXX in relation to my complaint. I believe that these entities have violated consumer protection laws and have caused significant financial harm to me and potentially many others. I would appreciate your guidance on the steps I should take to seek compensation for the losses I have incurred. Additionally, I request that you keep me informed of any updates or developments regarding the class action lawsuit against Bank of America, as it directly relates to my experiences and the issues I have outlined in this complaint. Thank you for your attention to this matter. I trust that the Consumer Financial Protection Bureau will take appropriate action to address the predatory practices of Bank of America and XXXX, and to ensure that consumers are protected from such fraudulent activities in the future. I look forward to your prompt response. Genuine & Sincerely, XXXX XXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 32277
Submitted Via: Web
Date Sent: 2023-10-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-13
Issue: Closing on a mortgage
Subissue: Closing disclosure or other related disclosures
Consumer Complaint: There is a law called the Alternative Mortgage Parity Act ( AMPA ) The AMPA preempts state laws that restrict banks from making any mortgage other than conventional fixed rate amortizing mortgages.We have two assignments that states that XXXX XXXX XXXX Asset and XXXX XXXX is an XXXX XXXX XXXX and XXXX XXXX XXXX XXXX Bank of America however there is it is stated that along with Bofa Securities, the investment banking arm, both firms engage in prime brokerage and broker - dealer activities.Between XXXXXXXX XXXX Bofa XXXX XXXX XXXX and XXXX XXXX XXXX am assignment that Bank XXXX XXXX XXXX be our servicer of our mortgage.The equity in our home was XXXX and it was never touch by us.Thus it has been traced to XXXX XXXX XXXX party of all the XXXX banks that were apart of the ever changing of our loan participants.In a proposed guidance and the proposed rule that followed, expressed concerns that private transfer fees may be used to fund purely private continuous streams of income for select market participants either directly or through securitized investment vehicles, may not benefit homeowners or the properties involved, and, therefore, could impair the safety and soundness of the regulated entities that invest in or purchase mortgages secured by such properties as collateral. Another concern expressed about private transfer fees is the adequacy of disclosure of these covenants which, in turn, may impede the marketability and valuation of the encumbered property. Consumers may also be unaware that a fee applies even if the resale price of their home drops below the original purchase price.XXXX XXXX XXXX XXXX XXXX XXXX fraud and Assignment Fraud. XXXX involves a mortgage originator sending simultaneous funding requests for the same loan to XXXX different warehouse lenders. Both warehouse lenders, unaware of each other, would send funding for the loan to the title companies specified by the mortgage originator. The mortgage originator then disburses the money from XXXX lender to the borrower, while directing the title company to wire the money received from the other lender to mortgage originators bank account. The mortgage originators then provide fabricated mortgage documents to the warehouse lenders that falsely represented that the lenders funds had, in fact, been used to finance borrower loans. Assignment Fraud involves modifications to the original loan where the name of the bank who actually owns the note is changed on execution of the XXXX XXXX Agreement. The problem with these modifications ( actually new loans with new lenders ) is that the old loans remain unaffected. The existing cloud on title to the property, the mortgage deed ( or deed of trust ), the note, the obligation, the purported assignments etc. is being compounded by attempts to allow impostors to foreclose on the mortgage, collect on the note, modify the loan, or approve a short sale. The time XXXX is title where securitized loans were recorded, foreclosed, modified or sold. The parties ( other than the borrower and possibly the Trustee on the Deed of Trust ) had actual knowledge that the lender was not the Lender, the terms of the obligation were already changed at the time of closing, the appraisal was false, the underwriting was negligent or fraudulent, the Good Faith Estimate was by definition rendered neither in good faith nor even close to an accurate estimate, and the list goes on and on. In determining whether a particular loan is part of a double-funding or double-selling scheme, examiners and forensic XXXX should look for as evidence that a mortgage originator is engaging in this scheme and participating in a pattern of deception, forgery and fraud. Once demonstrated, these indicators inevitably point to fraudulent affidavits and assignments of mortgages filed in the public records.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 302XX
Submitted Via: Web
Date Sent: 2023-10-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-13
Issue: Trouble using your card
Subissue: Can't use card to make purchases
Consumer Complaint: I mistakenly made transfer of {$1400.00} from my Bank of America Account into my credit card on XX/XX/2023 instead of transfer to my hubby 's account in other to settle our bills. My hubby notified me the next day that he did not receive the money I transferred. That when I realized my mistake. I made a call to BOA XXXX times that they release the excess cash back to my account and I went to XXXX of the branches here in Texas to log complaints. The calls ( XXXX times on XX/XX/2023 ) and visit ( on XX/XX/2023 ) to the branch ( the located on XXXX, XXXX TEXAS ) did not provide me solution, but conflicting resolutions times : two days, five days or ten days respectively. Another option is for me to take advance of {$200.00} and charges of 5 %. And nothing has been done. I decided to start spending the money since the excess of {$990.00} was in my credit card, because my spouse had to provide for the another way. I went to the grocery store and my transaction was declined today, XX/XX/2023, and I called support to log my compliant about the transaction, but the support told me that I can not spend more than {$500.00} credit limit within the billing cycle.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 754XX
Submitted Via: Web
Date Sent: 2023-10-13
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-11
Issue: Closing an account
Subissue: Funds not received from closed account
Consumer Complaint: On or around Monday XX/XX/XXXX a member of our company deposited a virtual check via phone deposit. She is a member of our company listed on the secretary of state of Georgia. Her funds in the amount of XXXX were held and the account is facing closure for fraud... This was our first mobile banking deposit. I called a representative on Wed XX/XX/XXXX to get a urgent update on the funds, which cleared the senders account and bank of America is holding funds. He provided an insult as " it is not our jobs responsibility to care about the customers '' I immediately told him that was unethical and that is exactly what a banks job is.. He rebuffed my statement rudely and got off the phone. In other words he did not care that the money is being held with NO timeline on release. Also there is an ach that will be sent to the account on XX/XX/XXXX in the same members name, that we do not want to be held. The account also has an available balance of XXXX that is being held ... All funds are CLEAR. WE NEED ACCESS TO OUR FUNDS IMMEDIATELY AS THE REASON FOR CLOSURE WAS NOT FRAUD.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30082
Submitted Via: Web
Date Sent: 2023-10-11
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-12
Issue: Opening an account
Subissue: Account opened without my consent or knowledge
Consumer Complaint: Sometime between XX/XX/XXXX and XX/XX/XXXX there were several Bank Of America accounts opened in my name in North Carolina and Florida. I was living in NY during this time. I contacted Bank Of America as well and they said that they would investigate but I have not heard anything from them.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-10-12
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-12
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: My available credits got steal, there is supposed to a XXXX $ transaction showing on my app. It was showing this transaction two days ago when I checked my credit account though the app, but today when I checked again, this transaction just disappeared on my account and my credit availability supposed to be more but the bank only gave me less then XXXX $ .As I calculate and know, it supposed to be XXXX XXXX dollars more for my available credit. But I dont know why money is gone. I have tried to contact with the specialist 4 times, but they always gave me different answers and not solve the problems. They didnt answer my questions clear and also some of them just trying avoid the responsibility to the other person.this is very unprofessional behavior and lame customer services. I dont know what to do.I know its not a big money but it happens couple time already when I using the card, before I wasnt that care until now
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 90028
Submitted Via: Web
Date Sent: 2023-10-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-11
Issue: Managing an account
Subissue: Banking errors
Consumer Complaint: I live in NJ and have a Bank of America account ending in XXXX. Someone walked into a Bank of America branch in XXXX, Texas with a XXXX XXXX check belonging to someone else, presented said check for cash to the teller as they wrote my name on it and had it endorsed with my Social Security Number. No check was ever deposited to my BofA account, but BofA made a charge back to my account for {$800.00} when it discovered this forged XXXX XXXX check was a closed account. The date of the check is XX/XX/2023, it was presented for cash on XX/XX/2023 and I was notified by BofA on XX/XX/2023. I reported the fraud to BofA the same day. To date, BofA refuses to credit my account back {$800.00}, and the bank also refuses to tell me what branch in XXXX, Texas this occurred in so I can file a police report. Someone not only managed to steal money from my account using another 's forged check, but they used my SSN as an endorsement. BofA said this will take 90 days. That is ridiculous. My claim with BofA is XXXX. Please assist
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 08742
Submitted Via: Web
Date Sent: 2023-10-11
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-11
Issue: Closing your account
Subissue: Company closed your account
Consumer Complaint: -- -- -- -- -- -UPDATE TO CLAIM # XXXX -- -- -- -- -- -- NOT DUPLICATE -- -- NOT DUPLICATE -- -NOT DUPLICATE -- -NOT DUPLICATE -- -NOT DUPLICATE -- -NOT DUPLICATE -- -NOT DUPLICATE -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Bank OF America has committed SECURITIES and has DISCRIMINATED against a consumer by obtaining CREDITS via a FINANCE CHARGE and APPLICATION ( ASSETS/SECURITIES ) and has given me no benefit. Bank America has unlawfully denied me my federal Right to CREDIT by shutting down my consumer credit accounts and FALSELY ADVERSELY REPORTING A ALLEGED DEBT giving the impression I am in lawful debt to Bank Of America. Bank Of America has collected MONEY on a consumer debt that arose out of a FINANCE CHARGE where satisfaction for the obligation was completed upon APPLICATION via my Social aka CREDIT CARD. Bank Of America then decides with no warning to ADVERSELY SHUT DOWN my own credit and accounts and CHARGE OFF THAT ALREADY PAID DEBT as a BUSINESS LOSS. Even tho that consumer debt has already been satisfied by the Finance Charge Bank Of America has DEBT PARKED it on my consumer REPUTATION causing me massive severe harm financially and personally in order to COERCE MORE ( RE ) -PAYMENT on a debt that was already satisfied. Notice it is fact this adverse voluntary reporting of an alleged debt goes against the very definition of charged off debt by the IRS which states charged off debt shall be reported as INCOME. Bank Of America there for is inaccurately reporting income on my consumer report as a debt and is now under the Juresdiction of the F.C.R.A Tittle 15 for false and inaccurate reporting. Notice it is a fact Bank Of America has charged of debt as a business loss but has not properly sent to me a copy of a IRS 1099C form for filings. Notice it is fact Bank Of America has charged off an alleged indebtedness as business loss but has not returned to me in the full amount of that indebtedness now in violation under Federal law 26 USC 6050P.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CT
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-10-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A