Date Received: 2024-02-05
Issue: Managing an account
Subissue: Problem using a debit or ATM card
Consumer Complaint: Unauthorized transactions caused my account to be wiped out overnight without any fraud protection from my bank. Bank has denied my claim stating that I authorized or gave someone authorization for the transactions. I was able to pull phone records showing over XXXX incoming and outgoing messages, calls, and pics to an international bank from my device while it was reported stolen. I also found two unauthorized international transactions that were in a pending status with the address of a person in Florida who used my phone number & billing address. I faxed all of this information to my bank to substantiate my claim that this was fraud on my account and I did not authorize these transactions.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 752XX
Submitted Via: Web
Date Sent: 2024-02-05
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-05
Issue: Other transaction problem
Subissue:
Consumer Complaint: My Merill account was hacked on XX/XX/XXXX and I reported my claim to the local XXXX Police and Merill Claims Department on XX/XX/XXXX. I didn't know about the hack until I received my stock monthly statement from Merill at the end of XX/XX/XXXX. I did contact Merill Claims about the hack and found out that my account had been disabled and inaccessible. On XX/XX/XXXX, I received a call on my cell phone : XXXX, not from XXXX. A broker agent from Merrill called me on XX/XX/XXXX, for a courtesy call. He did not mention any unusual/abnormal trading activity on my brokerage account. I did tell this person that I had no access to my account for a long period, months to a year because the stocks I purchased were in lost status. I would keep waiting. Once this message passed over to this agent, I think that's why my account was locked because he knew my account was hacked and disabled my account. It is strange why he did not tell me the problem and what he was concerned about. Assuming he knew the abnormal activity, he should have told me and still had a chance to stop this trade activity to avoid this disaster. I returned to XXXX on XX/XX/XXXX to take care of my XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX and I did ask my wife to contact Merill/Bank of America representative XXXX XXXX XXXX XXXX us communicate with the claims department. Merill closed my claim based on the computer IP being the same as the original IP from the date of the hack. I did ask for evidence of what XXXX had told me previously. I learned that the list of evidence shown in his email was wrong as below : 1. The verification phone number, XXXX, they used to verify my fraudulent transaction on XX/XX/XXXX, was wrong. This number, XXXX, was terminated on XX/XX/XXXX. 2. The supplied internet provided XXXX, XXXX to conduct fraudulent transactions was wrong. My current internet provider is XXXX XXXX and installed on XX/XX/XXXX until now. I did ask XXXX to escalate this investigative fraud issue because there were two errors on the same day with my Merrill and XXXX XXXX accounts. I suspect this hack came from the same hacker ( s ). The hacker accessed my account sold my existing high-value stocks and used the cash to purchase cheap stocks, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX all of them XXXX shares were bought and sold in the same two days. Why would this hacker do this way? I have discussed this issue with the police. Police said these hackers look like very smart and use this method to profit when stock prices rise and sell in the right way to make profits from the stock market and this way is difficult to catch cash flow. I did ask XXXX to submit more detailed evidence such as IP, IPS location, etc.. as well as their verified voice call records to offer to me how to support their decision. I will ask professionals around me to participate together to verify that. Looks like he did not want to be involved too much in my case, he told me Merill would give ma a formal mail for their conclusion. Finally, through the CFPB involved, I received a letter from Merril on XX/XX/XXXX, they closed my case because they had not found any computer-based online IP device fraud. Other than that, no more details, just one simple word that failed my claim case. So far, The nearest response from Merill was on XX/XX/XXXX. In this response letter, it doesn't have any evidence to show me. It is a simple turn-off my claim case letter only. I request your organization to help me to find out the evidence for me at this moment. Thanks. Hope to hear from you soon. Thanks. XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NC
Zip: 27513
Submitted Via: Web
Date Sent: 2024-02-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-05
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: I deposited a check on XXXX it's XXXX and funds are NOT available. This is a XXXX XXXX XXXX industry. I need my money right away! Everything in America is overpriced and wages barely allow you to live. You work to pay for banks and the rich portion of America to profit. Soon I will limit my use of all banks and eventually find a way to stop contributing to the American economy. I still feel like a sharecropper in America. Im sure most Americans agree. GET RID OF BANKS THAT TAKE XXXX days to have access to your money. This is ridiculous
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: 60610
Submitted Via: Web
Date Sent: 2024-02-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-05
Issue: Unexpected or other fees
Subissue:
Consumer Complaint: Dear Consumer Financial Protection Bureau, Subject : Urgent Investigation and Intervention in Unauthorized Transactions on Bank of America Prepaid Account To whom it may concern, I, XXXX XXXX, holder of a Bank of America Prepaid Account, have unfortunately been the victim of a series of unauthorized transactions and activities on my account. Despite multiple attempts to rectify this situation with the Bank of America Prepaid Services Fraud and Claims Department, my grievances remain unresolved. Claim Number : XXXX Below is a concise account of the events and discrepancies surrounding my account : XXXX. **Unauthorized Transactions** : Since XX/XX/2020, I have been unable to access my account. Upon attempts to log in recently, I discovered multiple unauthorized transactions. Someone gained illegal access to my account using a stolen debit card associated with it. Although I have now updated my password and requested a new card, the unauthorized transactions remain unaddressed. XXXX. **Fraudulent Activities** : Email notifications have informed me of XXXX transactions carried out in my name, actions I have never sanctioned. Moreover, an account with Bank of America was illicitly opened under my identity, and my stimulus packages, intended to be credited to me, were diverted to this fraudulent account. XXXX. **Physical Absence** : As evidence to my lack of involvement, I was out of the country during the time of these suspicious activities. Relevant documents attached validate my claim. Under the provisions of Regulation E of the Electronic Fund Transfer Act ( EFTA ), financial institutions are mandated to investigate and resolve unauthorized transfers within 10 business days of notification. If unresolved within this timeframe, a provisional credit equaling the disputed amount must be made to the account. Despite it being over 45 days since my initial complaint, Bank of America has yet to award any provisional credit, a direct violation of the EFTA. Moreover, Section 908 of the EFTA necessitates that all investigations be completed within 90 days. With already over half this duration elapsed and no solution in sight, I implore the CFPB to intercede on my behalf, ensuring that Bank of America adheres to the stipulated regulations. The distress caused by these unauthorized transactions, coupled with the inability to access unemployment benefits, has placed me in a precarious financial position. This situation not only undermines the trust customers place in their financial institutions but also reflects a gross negligence on the part of Bank of America. I kindly request the FTC to : 1. Expedite an investigation into this matter. 2. Ensure that Bank of America credits the provisional amount of {$23000.00} to my account immediately, as mandated by Regulation E. 3. Guarantee that the bank finalizes its investigation within the upcoming 45 days, in line with Section 908 of the EFTA. XXXX XXXX : XXXX XXXX XXXX : ( XXXX ) XXXX Your immediate intervention will not only provide me with much-needed relief but will also fortify the confidence of countless others who trust financial establishments with their hard-earned money. Thank you for your understanding and prompt attention. Sincerely, XXXX XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 90017
Submitted Via: Web
Date Sent: 2024-02-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-05
Issue: Closing an account
Subissue: Funds not received from closed account
Consumer Complaint: I was the victim of check fraud in late XX/XX/2024. I called Bank of America to explain to them that I was a victim of fraud. They told me that the check should bounce and that my account should not be affected as long as I reported the fraud and do not spend the funds from the check. A couple of days later they closed my account without notifying me, effectively freezing the funds that I have in the account which I need to pay my bills and generally live my life. I have spoken to customer service multiple times explaining that my job has direct deposited my paycheck into an account that I have no access to. They advised me that the account will be officially closed on XX/XX/2024 which is more than a month since the incident has occurred. When the account is closed they will send me a check for the funds that were remaining in the account. I am currently taking out personal loans and asking family members for financial assistance due to the negligence of Bank of America and them lying to me about the fraud not affecting my account. If they would have told me with sufficient time that the account was going to be frozen for more than a month then I would have had the opportunity to move the funds out of the account. Now I am struggling with paying my rent and bills and groceries for my family. Bank of America has XXXX empathy for my situation, even after I explained to them that I was told that my account would not be affected. They claim that they can not send me the funds until the account is officially closed which is unacceptable due to things costing money and me not having access to mine. I was a customer with them for over 20 years and never expected to be treated like a criminal especially after I called them immediately after noticing that the fraud had occurred. They have a recorded conversation of them lying to me about my account not being affected but to refuse to pull the record to prove me right.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33177
Submitted Via: Web
Date Sent: 2024-02-05
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-05
Issue: Trouble during payment process
Subissue: Private mortgage insurance (PMI)
Consumer Complaint: In XX/XX/XXXX, I received notice that my PMI is eligible to be removed and to give Bank of America a call. I called that day, and they walked me through the process. They wanted me to mail them a check for {$150.00} for the appraisal which needed to be done for the value of the home. I asked if they could draft my checking account. it is instant and I was giving them permission. They said they can not do that, ok fine. I received the letter and pre-paid envelope. I filled out the form and wrote the check and mailed it back. this was the week before XXXX. I called back start to XXXX. I spoke with a rep, and they informed me that the check was not received I confirmed check was never a cashed. they somehow lost it. My case was escalated and to call back next week they would have an update then. I called again and was told no updates they are still looking for it. I requested again to just draft the money out of my account and to get this going. they said they can't. I asked them to mail me the forms again and I would fill out another check. End of XXXX and I have not received the new envelope. I called Bank of America on XX/XX/XXXX and requested to speak with a manager, they said they will have them reach out to me. Have not heard from them once. I find it unbelievable that its XXXX and they want me to send them a check in the mail, they lose it and now I'm still waiting for them to mail me. Bank of America is so big that it isn't worth my business. I am just a number, and they could care less. Been with BOA for almost 20 years! PMI is {$90.00} a month and I could use this money for my bills, but they don't answer back, the reps on the phones can't do anything to help and I don't have any other options.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 336XX
Submitted Via: Web
Date Sent: 2024-02-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-05
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: On XXXX XXXX, my beginning account balance ( account ending in XXXX ) with bank of America was XXXX. According to my BOA XXXX statement, a deposit in the amount of XXXX was made to this account. My statement ending balance for XXXX XXXX was XXXX. Bank of America closed the account and reported it as delinquent with XXXX in the amount of XXXX. After being denied an account at my local bank, I later made a second payment in the amount of XXXX to bank of America to clear up this issue with XXXX. I learned that I should have never been placed in XXXX in the first place. Also, Bank of America owes me XXXX for an overpayment.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 91387
Submitted Via: Web
Date Sent: 2024-02-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-05
Issue: Problem with a company's investigation into an existing problem
Subissue: Problem with personal statement of dispute
Consumer Complaint: Fraudulent accounts on my credit needs to be removed I reported to the fraud department
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: 20784
Submitted Via: Web
Date Sent: 2024-02-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-05
Issue: Closing your account
Subissue: Company closed your account
Consumer Complaint: After being with BANK OF AMERICA for 24 years they have decided to close my credit card account, stating that because of inquiries that I have had from other credit card companies they have decided to close my credit card with them! I have been with this company for 24 years and have always made above my minimum payments, so I am so confused as to why I was cancelled at all?!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 08360
Submitted Via: Web
Date Sent: 2024-02-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-05
Issue: Closing an account
Subissue: Company closed your account
Consumer Complaint: Bank of America close my account with no reason at XXXXBOA staff told me I will never get any reasons .They will sent about XXXX $ to my address for two weeks, but it is cost too much time for me .I need to pay the rent as soon as possible, so please sent my check quickly and tell me the reasons.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 90404
Submitted Via: Web
Date Sent: 2024-02-06
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A