Date Received: 2023-08-05
Issue: Problem with a lender or other company charging your account
Subissue: Money was taken from your account on the wrong day or for the wrong amount
Consumer Complaint: I was scammed by a property management company year of XXXX which I reported to Bank of Americas Customer Service/Fraud Department located in Georgia I informed them of the accurate time lines I could provide to them, detailed conversations I keep via text or email, paper trail ( signed documents ) picture of individual the amount of money that was taken. The total amount was {$3000.00} which I only received less than {$1000.00} back XXXX stated they couldn't do anything in regards to returning the funds where they seen the money pulled out. They filed a dispute without requesting any of the information I provided to help my case! Thereafter a couple of months went by just for them to put my account in the negative/charge off by trying to collect back the money from a temporary hold. Which evidently I didn't have. This also caused my credit card account to go in the negative which I utilized to help my credit score. Both accounts are in collections now! This complete situation caused alot of hardship for me and my children it was our last from my income tax and through the banks negligence me and my family were almost homeless. Customer service in my opinion should go above and beyond for loyal customers such as myself my cause was never reviewed or investigated properly in any fashion. Trusting people are fighting on your behalf in situations like this was not the outcome. After being scammed the bank turns around to take from me again shameful.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30012
Submitted Via: Web
Date Sent: 2023-08-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-06
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: First, let me mention I'm a former XXXX XXXX XXXX and XXXX XXXX. I am a professional in stating the facts- and knowing when an outrage has been committed that demands justice - such as in the case I'm about to relate. Bank of America 's outrageously out-of-control, criminal, merchant-biased VISA Claims Resoution department is trying to extort {$5200.00} from me for a product I ordered XXXX months ago but still do not have. I put the charge in dispute and they refuse to dismiss it saying the merchant claims it's non-refundable ( which is illegal ) and that " you need to work this out with the merchant '' ( which is impossible, which is why I filed the VISA dispute with Bank of America to begin with ). Bank of America ( BOA ) is also siding with the merchant, XXXX XXXX of XXXX, in refusing to refund the {$5000.00} I put down as a deposit through the BOA 's VISA card, on XX/XX/XXXX, even though that company failed to deliver an acceptable product - having sent me ( many months beyond the required deadline date of XX/XX/XXXX ) a LEMON, a guitar that was flawed and UNPLAYABLE ( and I've been a professional XXXX and XXXX XXXX for decades and am an expert on guitars ). I sent that guitar back on XX/XX/XXXX. The guitar they sent on XX/XX/XXXX arrived UNPLAYABLE and FLAWED IN MULTIPLE WAYS ( including sounding a horrific squarewave and having defective, squeaking tuners that failed to keep the guitar in tune ; its action was also super high and the neck was as big as a baseball bat - such that even with my long fingers and large hands I could not play chords on this guitar I need to play ). I sent it back to them days later and they still have it. Though they've offered to " adjust '' the guitar it can not be adjusted to make it acceptable ; they'd have to rip off the horrible neck and attempt to put on an acceptable neck - no good! They offered to make me a new guitar but I can not wait another XXXX MONTHS for the instrument I NEEDED ON XX/XX/XXXX - nor is it reasonable to ask me to do so. Nor can I count on them to produce a perfect guitar, after this experience. I have nothing to show for my money and XXXX has nothing to offer me as a replacement, and we're now practically a year after I put my money down and I have no instrument to play nor anything to show for my money. There are federal and state consumer protection and lemon laws that place XXXX AND its facilitator, BOA, in violation of the law. I was defrauded by XXXX and now BOA is trying to extort more money from me, {$5200.00}, for a product I do not have, while refusing to give me the refund XXXX owes me, {$5000.00}, for the deposit, saying I need to give the disreputable merchant an infinite amount of time to provide a solution which is outrageously unreasonable. I'm XXXX XXXX XXXX and I'll be retiring soon. I need my {$5000.00} back, and an end to BOA 's extortion.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 78633
Submitted Via: Web
Date Sent: 2023-08-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-05
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: In XX/XX/XXXX, I decided to refinance my existing mortgage with Bank of America. I contacted my investment advisor at Merrill Lynch ( Merrill Lynch was acquired by Bank of America in XXXX and merged into Bank of America in XXXX ) and he introduced to a mortgage specialist. As evidenced by email exchanges, I was interested in exploring all refinancing options. At that time, I was not familiar with the specific formulas used to determine if I met the income requirements. After a brief conversation with the mortgage specialist, I was told that because I am retired, I do not meet the income requirements to refinance my existing mortgage. I was extremely disappointed because our " retiree assets '' almost doubled the amount of our existing mortgage, the market value of our home significantly exceeded the current mortgage and I have an excellent credit rating. I have been a Bank of America/Merrill Lynch client for over 20 years. As a result of our long-term relationship, I thought they would be the Lender that would most likely approve my refinancing request and reluctantly accepted the mortgage specialist 's, ( what I subsequently learned was not correct ) conclusion. A few months ago, our son applied for a mortgage, and I participated in a discussion with their mortgage specialist at XXXX XXXX Thereafter, I contacted the specialist and discussed my situation. I also became very familiar with the various formulas that are used to determine if you meet the income requirements to qualify for a financing. The calculations are based on ratios of your Monthly Debt payments to your Monthly Income and commonly referred to as DTI Calculations. Thereafter, I concluded that the mortgage specialist at Bank of America clearly made a mistake when he advised me that I do not have sufficient income. I contacted the mortgage specialist and provided him with my calculations along with other relevant information including the amount of our investment liquid assets at the time of our initial conversation, my excellent credit rating and how much the market value of our property exceeded the existing mortgage. During that conversation, I was informed about the " discriminatory '' formula that is used to determine monthly income for only applicants that are retired. They discount your existing liquid assets by 30 % and divide the remaining 70 % by 360 months, on the assumption that you will hold the mortgage for the entire term of XXXX. In other words, if you have liquid assets of {$5.00} XXXX, Bank of America only allows you to include {$9900.00} in your DTI calculations. That is the same amount that an employee with gross compensation of {$110000.00} would be allowed to include. In my opinion, this formula clearly discriminates against retirees. However, notwithstanding the restrictions that are only applied to retiree assets, I provided several DTI calculations along with explanatory notes that documented my conclusion that I met their DTI requirements in XXXX of XXXX. I also provided Bank of America with a mortgage table that indicated mortgage interest rates for XXXX fixed-rate mortgages ranged from 3.23 % in XX/XX/XXXX and remained below 3.23 % through XX/XX/XXXX. I requested that the information I provided be reviewed and that Bank of America should make good faith equitable proposal to compensate me for the additional {$18000.00} of interest charges I incurred this year and the additional {$28000.00} of interest charges I will incur next year. The additional interest charges are being incurred because under the terms of my original mortgage, the interest rate of 3.06 % reset after 7 years, effective XX/XX/XXXX. This is the exact reason why I wanted to refinance my mortgage in XXXX and fix the interest rate for the rest of my life. The matter was eventually referred to the " Lending Escalation Team '' at Bank of America. They refused to comment about or discuss with me the previously provided DTI Calculations. In addition, notwithstanding documents were provided that confirmed I wanted to talk with a mortgage specialist about all refinancing alternatives, they questioned whether or not the conversation occurred because there was no evidence that I completed a mortgage application. The implication is that I should have disregarded that advice from the Bank of America mortgage specialist. I even suggested a fair equitable result would be achieved if Bank of America would simply agree to an interest rate modification of my existing mortgage to reflect the rates that were in effect any time from XX/XX/XXXX through XX/XX/XXXX ( the time period when under any circumstances the mortgage refinancing would have been completed ). I also stated that if that could be accomplished, I would absorb the additional {$18.00}, XXXX of additional interest charges I incurred this year. My request was denied, and I have been informed that as far as the " Lending Escalation Team '' is concerned, their " so-called '' investigation is complete, and this is a closed matter.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 115XX
Submitted Via: Web
Date Sent: 2023-08-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-05
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: XX/XX/XXXX In XXXX & XXXX I submitted a written request for XXXX XXXX XXXX XXXX to remove negative information from my credit report. XXXX XXXX XXXX XXXX agreed to remove this information in a contract with me in XXXX. Failure to honor this contract is considered wire fraud and breech of contract. It is now XX/XX/XXXX and XXXX XXXX XXXX XXXX has failed to respond to my request. Accordingly they are now in violation of FCRA 623 ( a ) ( 3 ) - Responsibilities of furnishers of information to consumer reporting agencies by failing to provide notice within the time identified in the statute as described in section 603 ( p ). I respectfully request the CFPB to intervene and facilitate this complaint with an acceptable outcome outside of the court process. I have gotten copies of my credit report from XXXX XXXX XXXX, XXXX, XXXX & XXXX and noticed that an account I had with XXXX XXXX XXXX was on all of them.! I never authorized nor gave written, unwritten verbal and nonverbal communications to any of the 3 companies per 15 USC 6802. 15 U.S.C 1681 Section 602 A. States I have the right to privacy. 15 U.S.C 1681 Section 604 A Section 2 ; It also states a consumer reporting agency can not furnish an account without my written instructions Per 15 U.S. Code 1681a- ( a ) Definitions and rules of construction set forth in this section are applicable for the purposes of this subchapter. ( b ) The term person means any individual, partnership, corporation, trust, estate, cooperative, association, government or governmental subdivision or agency, or other entity. ( c ) The term consumer means an individual. ( d ) Consumer Report. ( 1 ) In general.The term consumer report means any written, oral, or other communication of any information by a consumer reporting agency bearing on a consumers credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living which is used or expected to be used or collected in whole or in part for the purpose of serving as a factor in establishing the consumers eligibility for ( A ) credit or insurance to be used primarily for personal, family, or household purposes ; ( B ) employment purposes ; or ( C ) any other purpose authorized under section 1681b of this title. ( 2 ) Exclusions.Except as provided in paragraph ( XXXX ), the term consumer report does not include ( A ) subject to section 1681s3 of this title, any ( i ) report containing information solely as to transactions or experiences between the consumer and the person making the report ; ( ii ) communication of that information among persons related by common ownership or affiliated by corporate control ; or ( iii ) communication of other information among persons related by common ownership or affiliated by corporate control, if it is clearly and conspicuously disclosed to the consumer that the information may be communicated among such persons and the consumer is given the opportunity, before the time that the information is initially communicated, to direct that such information not be communicated among such persons ; ( B ) any authorization or approval of a specific extension of credit directly or indirectly by the issuer of a credit card or similar device ; ( C ) any report in which a person who has been requested by a third party to make a specific extension of credit directly or indirectly to a consumer conveys his or her decision with respect to such request, if the third party advises the consumer of the name and address of the person to whom the request was made, and such person makes the disclosures to the consumer required under section 1681m of this title ; or ( D ) a communication described in subsection ( o ) or ( x ). [ 1 ] 15 U.S. Code 1666a & 15 U.S. Code 1666d - Treatment of credit balances Whenever a credit balance in excess of { {$1.00} } is created in connection with a consumer credit transaction through ( 1 ) transmittal of funds to a creditor in excess of the total balance due on an account, ( 2 ) rebates of unearned finance charges or insurance premiums, or ( 3 ) amounts otherwise owed to or held for the benefit of an obligor, the creditor shall ( A ) credit the amount of the credit balance to the consumers account ; ( B ) refund any part of the amount of the remaining credit balance, upon request of the consumer ; and ( C ) make a good faith effort to refund to the consumer by cash, check, or money order any part of the amount of the credit balance remaining in the account for more than six months, except that no further action is required in any case in which the consumers current location is not known by the creditor and can not be traced through the consumers last known address or telephone number. XXXX XXXX XXXX - {$87.00} No Account Number listed. XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30016
Submitted Via: Web
Date Sent: 2023-08-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-05
Issue: Managing an account
Subissue: Banking errors
Consumer Complaint: I am a small, minority owned business, who has been harmed by Bank Of America. Their blatant disregard for how their actions have harmed me, reek of blatant discrimination. XXXX XXXX XXXX XXXX initiated a wire to my business checking account. The incorrect Bank Of America routing was used. XXXX XXXX XXXX XXXX sent a letter of indemnity ( LOI ) to Bank Of America XXXX to retrieve the wire that was sent to the incorrect routing number. XXXX XXXX XXXX XXXX initiated a second wire to my business checking account, which was received without event. XXXX Bank Of America returned the original funds to XXXX XXXX XXXX . They received the funds without event. Case closed. XXXX ( 30 days later ) - Bank Of America places a fraud hold, in the amount of {$880000.00} on my business checking account. Bank Of America stated the hold was a result of XXXX XXXX XXXX recalling the wire that was sent the previous month, as a result of Fraud. This caused multiple debit card transactions to be declined, my insurance premium was returned, unpaid, and I was unable to process my payroll. XXXX The hold was still on my account, despite my submission of multiple documents verifying the validity of the wire I received. I also had XXXX XXXX XXXX speak directly to Bank Of America to clear up this error. Later that day, Bank Of America finally released the hold. XXXX I spoke to the Bank Of America branch manager, regarding this error, and all of the harm that it caused me, in addition to the fees that I was charged. In that conversation, I asked for an email or letter referencing the error, that I could present, in hopes of mitigating the damage that was done to my reputation. He said no problem. XXXX I sent an email request to my Bank Of America relationship manager, asking for refund of the fees that I incurred, in addition to the email/letter that I requested. XXXX I received a form letter from Bank Of America XXXX stating that the items were returned due to deposit holds. The letter further directed me to view their holds policy. XXXX I filed a formal complaint with the CFPB. Complaint # XXXX ( Copy attached ) XXXX Bank Of America submitted their official response. In that response, they state per your request, we also sent you a letter on XX/XX/XXXX .. ( Copy attached ) XXXX I made multiple calls to customer service, and to my relationship manager, in an effort to obtain a copy of the XX/XX/XXXX letter that I never received. XXXX I submitted my feedback/response to the CFPB, asking that a copy of the XX/XX/XXXX letter be sent to me, as it was never received. XXXX I filed a second complaint with the CFPB, requesting a copy of the XX/XX/XXXX letter that Bank Of America referenced in its official response to the CFPB. Complaint # XXXX. XXXX I filed a third complaint with the CFPB, as Bank Of America never responded to the previous complaint filed on XXXX. Complaint # XXXX. XXXX Bank Of America sent me a direct response, in which they concede the XX/XX/XXXX letter that they referenced in their official response to the CFPB, did not exist. XXXX I sent a direct email response to XXXXthe department that sent the XXXX letter to me. I sent a copy of the email to XXXX XXXX, XXXX, XXXX XXXX, President of Business Banking, and XXXX XXXX, President of Regional Banking. ( Copy attached ) XXXX I received a letter from Bank Of America XXXX via email, informing me that the letter I requested should be received by XX/XX/XXXX. ( XXXX attached ) XXXX I received a letter from Bank Of America XXXX via email. The letter completely contradicts all previous communications, misstates the issue, and contains multiple factual errors. Additionally, Bank Of America advised me to provide a copy of the letter, to any merchants, to address any inquires related to the incident, even though the letter contained sensitive private banking details. Here we are, fifteen months later, and I am still not in receipt of the simple letter of accountability. This is beyond offensive!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 150XX
Submitted Via: Web
Date Sent: 2023-08-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-05
Issue: Unexpected or other fees
Subissue:
Consumer Complaint: After placing a freeze on a government issued check, BOA sent a notice saying they would pay all fees and overdrafts incurred during the freeze. They then went in my account and changed my payment date on my car payment. It was made on XX/XX/23 to be paid XX/XX/23. The freeze did not allow me to cash any checks. Causing me to miss a payment.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: SC
Zip: 290XX
Submitted Via: Web
Date Sent: 2023-08-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-05
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: In XXXX my XXXX XXXX XXXX XXXX was put into covid forbearance. When it came out I paid back payments of XXXX to bring it current. For the time it was in forbearance my credit report shows XXXX on XX/XX/XXXX shows 180 days late which is stopping me from refinancing this mortgage and my first mortgage with any bank or mortgage servicer. I reached out to Bank Of America for help they refused to change the rating. This is an adjustable rate home equity loan I tried to get them to change it to fixed but I was told it would be higher if I did that. I would just like to move on from this and restructure my current finances. This complaint is also for my husband XXXX XXXX ss XXXX. XX/XX/XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 076XX
Submitted Via: Web
Date Sent: 2023-08-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-05
Issue: Advertising and marketing, including promotional offers
Subissue: Didn't receive advertised or promotional terms
Consumer Complaint: We balance transferred from our XXXX credit card to a XXXX interest promotional until XX/XX/XXXX. We have paid the transfer fee and the first month recieved an interest payment amount for the transfer. We contacted BofA and talked with XXXX XXXX on XX/XX/XXXX. We transferred almost {$13000.00} to take advantage of the advertisement. XXXX indicated this was probably an internal error in their system and sent in the request change. We would be notified in two days of the change. XX/XX/XXXX we talked with XXXX from XXXX and he indicated the request was sent in and on XX/XX/XXXX they deemed the request not valid because they indicate no ad was present at that time. They then asked with we wanted to move our money to another credit card to get benefit of promotional offer. We indicated we would not and would be looking to remove our money from that account. From BofA, they acknowledged we had been customers for 25 years.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AZ
Zip: 85388
Submitted Via: Web
Date Sent: 2023-08-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-06
Issue: Fraud or scam
Subissue:
Consumer Complaint: Was called by a Bank of America phone number ( the same number listed on the back of my debit card ), and said they were from the fraud department and they caught a XXXX transfer of {$3500.00} to someone in XXXX. They asked me if I had sent that and I said no. They said they were going to put a fraud warning and then reverse the payment. They requested a manual reversal for {$3500.00}. They gave me a confirmation code and then sent the request for {$3500.00}. After that, the {$3500.00} disappeared from my account and they said not to log on for XXXX hours. I called BOA and was sent to their XXXX fraud dept where they confirmed it was fraud. The payment is processing, but they cant give me my money back until XXXX reviews the case which could take up to 45 days.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 92009
Submitted Via: Web
Date Sent: 2023-08-06
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-05
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: I received a phone call XX/XX/XXXX from a phone number I recognized. I answered the phone and it was an agent stating they were from Bank Of America and were monitoring my account for possible fraudulent activity and that my account was being comprised. I confirmed the number with the caller as BOA when my friend dialed back the number from her her phone and it was BOA 's general answering message. Then I did question the authenticity of caller and replied BOA will never ask you for a personal information and you will be on a recorded line. This was how you could differentiate from a scammer. He was polite and seemed caring to help me with my possible fraudulent activity from being processed. He stated not to worry there was only a few steps I needed to take. First was to copy a code down and send that to myself over XXXX. I have never used XXXX before and I have had BOA for 30 years. Therefore in my opinion any transactions should have been flagged. I did the transaction as I was instructed to. First one was {$1900.00} and the second was {$1400.00}. I also received a confirmation code from BOA in a text stating the transfer is complete. He then told me to refrain from going online for 24hrs but I could still use my card for purchases without issues. He said someone would call back the following day to review account activity and determine if account needed to be closed. Saturday XX/XX/XXXX I received another call from same number which I identified as BOA. Agent answered and confirmed my name stating He spoke to me yesterday and was following up with my claims and account activity. He did stated there were log n attempts from XXXX XXXX and another state I don't recall. He said no to worry it was blocked. He also stated my transfer attempted yesterday did not go through. He said he would walk me through the steps again and this time it would be quicker bc my information should be stored. So I did the same transfers back to myself for the same amounts. I once again was told do not log back in for monitoring this was first thing Sunday morning. When I got home from work Sunday I had an uneasy feeling and decided to login to check on account. It was then I noticed thousands of dollars missing from my balance and saw these pending transfers. I immediately called the bank still not knowing what was going on Thinking I did not block the transfers and it was the real agent from BOA that said I was being scammed no one had called me from BOA. I reported the incident with fraud department at BOA who reported it would take 10 dats for claim to process .They also said most likely I would not get my funds back. They were able to stop the last 2 transfers but not the first 2 totaling over {$3000.00}. I also filed a police report and a claim with the Federal Trade Department in which I received a report number. I also faxed copies of the test messages and calls from the " spoofed BOA number '' per police dept to BOA fraud team for my case review. On Monday I received another call back from the scammer attempted to do the transfer for a 3rd time. I reported this to police and BOA who stated there was nothing more they could do. I am looking for help in getting my funds back. Please help me.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NH
Zip: 032XX
Submitted Via: Web
Date Sent: 2023-08-05
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A