Date Received: 2023-08-02
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Last year Bank of America lost a payment. We were charged late fees and had to catch back up. The payments go through my business account so my staff ensures the bills are paid on time each month. After the payment was lost and I made a phone payment, my staff was advised that we wouldn't have that other check clear and it definitely hadn't been received. Less than a month later it cleared. It had been lost in THEIR processing center. XX/XX/XXXX we received an overdue notice. My staff member is working on tax things and hadn't balanced the XXXX books yet. When she saw the overdue notice, she immediately looked for the check. It was cashed on the XXXX of XXXX. When calling in we were transferred multiple times ( at least four ). One person said it was received the XXXX. One said the XXXX. Another said the XXXX and then when called out on that statement tried to say that she was just repeating what I said. I was on speakerphone. The XXXX was a date I never gave, and now has me question when the check was actually received. Bank of America refused to waive their late fee because they had already waived a previous late fee. A staff member prior to that transfer even stated that many consumers have been calling in with similar issues. Why should we need to pay for their mistakes. This is a gross abuse of power by a mortgage lender and needs to be stopped at once.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 49441
Submitted Via: Web
Date Sent: 2023-08-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-02
Issue: Opening an account
Subissue: Didn't receive terms that were advertised
Consumer Complaint: I filled in and submitted an application to open a 7 month featured CD with Bank of America on the XXXX of XXXX, 2023 for {$30000.00}. I had also filled in details of my XXXX Savings account from which the money had to be taken. The money got taken out by Bank of America on the XXXX of XXXX itself, however my CD has not been opened yet. I do not see any new CD on my Bank of America dashboard, neither did I receive an email. I keep calling them up on their dedicated line : XXXX and they keep mentioning that my application is in progress and is undergoing research due to a technical failure. I am deeply concerned as my money has been taken away and there is no news on the account opening for 19 business days now.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 94087
Submitted Via: Web
Date Sent: 2023-08-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-02
Issue: Other transaction problem
Subissue:
Consumer Complaint: In the process of selling my home, money came through on a wire and was not credited to my correct account. Instead somehow online two fraud accounts were opened and the credits were placed in those. I was unable to transfer it out and it was kept and I was not afforded to see both ledgers. The bank has not returned the credits to the correct Bank of America account. This has caused me great hardship. The amount was {$880000.00} which came in doubled as it should have. The bank called this an error. They did not follow gaap principles. A fradulent account was opened and the credits placed in them. My credits have not been returned, and not returned to the sender. They said these amounts were error codes. They refused to speak to me afterwards. I need your help Regards
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-08-02
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-02
Issue: Other features, terms, or problems
Subissue: Problem with balance transfer
Consumer Complaint: I submitted an online application to Bank of America in response to an advertised XXXX XXXX opportunity. The initial response was that they could not offer the account, then I received a letter stating that additional information was required. I submitted the additional information. I received no other communications until an email stating that a balance transfer of approximately 25 % of my request was in work. I tried to contact BOA ; but, the system required a complete account number that I did not have until an actual credit card arrived several days later. The credit card came with a lower limit than I would have accepted. BOA had created a credit account and reported it to XXXX without me ever having been provided the proposed terms of the account. I would have declined the account under the terms that BOA unilaterally implemented. I was notified by XXXX that the open account has been added to my credit history/report. I have contacted BOA and have been told that the balance transfer and the credit card have been cancelled and closed.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MO
Zip: 630XX
Submitted Via: Web
Date Sent: 2023-08-02
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-02
Issue: Closing your account
Subissue: Company closed your account
Consumer Complaint: Bank of America closed my accounts, they made a auto payment even after I stopped all auto payments on a checking account that was closed that resulted in reversed payment and as soon as they contacted me I went to my checking account and made the payment, I was never late on any payment and they closed all three accounts that will now have interest rates at 23 % when I had a zero interest rate
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33312
Submitted Via: Web
Date Sent: 2023-08-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-02
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: The existence of a derogatory rating on my account is causing me significant concern. I am deeply worried about its potential impact on my credit. It has already resulted in the denial of a recent loan application and an increase in the interest rates on my existing credit accounts. I want to emphasize the severe financial and emotional distress that this negative rating has caused me and will continue to cause until it is resolved.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33615
Submitted Via: Web
Date Sent: 2023-08-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-02
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: IDENTITY THEFT VICTIM DUE TO DATA BREACH FROM XXXX, AND OTHER CRA. HAVE DOCUMENTS OF FILE REPORTS TO FEDERAL ENFORCEMENT AND IDENTITYTHEFT .GOV
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 92374
Submitted Via: Web
Date Sent: 2023-08-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-02
Issue: Fees or interest
Subissue: Problem with fees
Consumer Complaint: Friends, Credit Card XXXX Bank of America ( BofA ) Amount of Transaction : {$21.00} Late Fee : {$39.00} Finance Charges : {$15.00} + Transaction Date {$21.00} : XX/XX/XXXX Posting Date {$21.00} : XX/XX/XXXX Payment Date : XX/XX/XXXX ( BofA failed to include the {$21.00} transaction from payment and now wants ( a ) late fees and ( b ) finance charges ) I called to make a payment on XX/XX/XXXX and made the payment of {$1600.00}. It shows Transaction Date of XX/XX/XXXX and Posting Date of XX/XX/XXXX. For some reason, through no fault of my own, BofA did not inform me of any pending transactions. I relied on BofA that my XX/XX/XXXX payment would cover all prior transactions from XX/XX/XXXX. The transaction that has caused the issue is a {$21.00} charge whose Transaction Date is XX/XX/XXXX with a Posting Date of XX/XX/XXXX. Therefore, the Transaction Date of XX/XX/XXXX is prior to the Posting Date of XX/XX/XXXX and my payment date of XX/XX/XXXX. The reason why I called to make a payment on XX/XX/XXXX was to ensure that all transactions prior to that date were posted. I have earnestly and sincerely attempted to work with BofA to resolve this error. Instead, it has hit me with a late fee of {$39.00} -- -that exceeds that {$21.00} charge -- -and finance charges for a transaction that I thought was paid in full. I have called in XXXX ( paid the {$21.00} transaction that BofA should have included with the XX/XX/XXXX payment ) and was told that the fees and finance charges will remain. I spent over three ( 3 ) hours of time being shuffled back-and-forth with different supervisors and manages : XXXX employee ID # XXXX ; XXXX employee XXXX XXXX XXXX XXXX XXXX XXXX XXXX who claimed to have no employee ID #, XXXX ( told he was the manager and not at liberty to give an employee ID # ), and XXXX employee ID # XXXX. I was told someone would escalate my claim and get back to me in a couple of weeks : wait a couple of weeks and ( a ) no call, ( b ) no email, and ( c ) letter ( or flowers ). I am shocked with this treatment. Shocked. I literally physically attempted to pay and was under the impression that I had paid. I was not later informed until well after-the-fact that BofA did not include the {$21.00} XX/XX/XXXX transaction with my XX/XX/XXXX payment and would not remove the late fee or finance charges. It is unfair and unreasonable to require that I pay the {$39.00} late fee and finance charges for the {$21.00} transaction because I attempted to pay it after the transaction and on its posting date -- and was under the impression that it was paid. It was not until after-the-fact that I came to learn that not only was the {$21.00} not paid, I would be charge a late fee and interest charges for a transaction I attempted and sincerely believed was paid. Transaction : XX/XX/XXXX ( Posting Date ) XX/XX/XXXX ( Transaction Date ) Ext Imm Pymt Transfer Ref XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Summation : BofA did not include the {$21.00} transaction ( XX/XX/XXXX ) that I thought I had paid on XX/XX/XXXX. I did not have any notice until XX/XX/XXXX, that the {$21.00} was not included in my XX/XX/XXXX payment. On XX/XX/XXXX, with three ( 3 ) hours of back-and-forth with BofA 's agents, I of course paid the {$21.00} and disputed the late fee and finance charges.I was told someone would contact me within a couple of weeks about the late fee and finance charges. Apparently, I am still incurring finance charges that I learned today. After waiting and calling again on XX/XX/XXXX, BofA still wants to charge me a {$39.00} late plus additional finance charges. I believe the late fee and finance charges are wrong and should be credited to me.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: 60201
Submitted Via: Web
Date Sent: 2023-08-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-02
Issue: Managing an account
Subissue: Fee problem
Consumer Complaint: Hi I just wonder if nsf fees that Bank of America must reimburse to their clients is between XXXX, correct? My concern is what I saw on my statement counter credit which will be added from the early date of a bill. However, I asked bank already but failed to get the answer.My understanding is that adding counter credit from the beginning of the bill to deduct all the negative expenses that will cause nsf fees eventually. I often cashed check and withdraw at teller. But I never once deposit at tellers since atm machines are available 24/7 and show up on account immediately. Therefore, why would I wasting time to wait in line and fill papers? Bank of America will not reverse the fraud transactions in XXXX anyway. So it is hard to prove if the nsf transactions really exist. Or else I would love to hear explanation of counter credit that I dont think I have made. By the way, in XX/XX/XXXX that Bank of America just remove, I found a suspicious check that Bank approved it. Number of check wasnt consistent to my check that was XXXX. Representative said that was my check when then name on the check was not even me. Also, there was no signature on the check. Bank let that check deducted money from my accounts. I asked for check details which they can not answer. The same incidents happens in XXXX 2 checks but very interesting that those checks were using the same account number but different routing numbers. Even irs, never had my 2 routing numbers. Especially, my routing number were from XXXX. But I lived in XXXX over 10 years. I was surprised that a scam could get those information. Btw, the check scam company was in XXXX XXXX XXXX XXXX XXXX. I believed XXXX was investigating.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 91423
Submitted Via: Web
Date Sent: 2023-08-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-02
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Bank of America, in over 17 years - 2006 to present has done the following. Failure to provide proper XXXX interest deductions while committing tax fraud. Resolved by court decision. Paying down {$31000.00} in principal reduction in 17 years while paying over {$300000.00} in mortgage payments. Failure to allow fully amortized payments. Did not take the initiative to resolve the problem. Servicing a loan which they could not legally sell. Changed vital information on mortgage statements. Failed to return overpayment upon request. Usurped " or more '' provision. Failed to acknowledge ownership of note. Each monthly statement has four payment options. B of A has control over options to offer or deny that always favor the bank, taking advantage of XXXX XXXX XXXX XXXX XXXX customers.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 95361
Submitted Via: Web
Date Sent: 2023-08-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A