Date Received: 2023-07-19
Issue: Problem with a lender or other company charging your account
Subissue: Transaction was not authorized
Consumer Complaint: In XX/XX/XXXX, I went to a bank to open a checking account and was told I was placed on a bank checklist by the Bank of America ( BOA ) XXXX, MD branch and was not allowed to open an account. I visited the XXXX branch on the same day and spoke with the XXXX XXXX who gave me the number to BOA headquarters to discuss monthly fees charged to my account which had been inactive prior to XXXX. I spoke to a representative at BOA headquarters who stated that I owed {$2000.00} in mostly bank fees but she could settle for {$1000.00}, which I did not have at the time. On XX/XX/XXXX, I returned to the BOA XXXX, MD branch to pay the {$1000.00} settlement. The bank had a record of my call to headquarters but no record of the negotiated amount. I called BOA headquarters again from the XXXX XXXX and a bank representative named XXXX told me and the XXXX XXXX XXXX that the full amount of {$2000.00} was due because the bank does not settle. It is BOA 's policy that any account that is in the negative and inactive for 120 days or more shall be closed. Again, the account had been inactive prior to XXXX yet monthly fees of {$29.00} were charged through XX/XX/XXXX. The beginning account balance on XX/XX/XXXX was - {$890.00}. The beginning balance on XX/XX/XXXX was - {$2000.00}. By the end of XX/XX/XXXX, after an additional fee of {$29.00} was charged, the balance was - {$2100.00} and BOA closed the account. After attempting to settle this matter by paying {$1000.00}, BOA refused to accept that amount and I remain on the bank checklist, unable to open an account. As a consumer and business owner, this unfair and predatory banking practice by Bank of America has caused me XXXX XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: 20603
Submitted Via: Web
Date Sent: 2023-07-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-19
Issue: Fees or interest
Subissue: Problem with fees
Consumer Complaint: Hi! I transferred XXXX into my XXXX account from a balance transfer from BOA. It was suppobe {$1500.00} on XX/XX/2023. I called XXXX, and they will return the XXXX to me so I can return it to BOA. However, the balance transfer fee of BOA of {$600.00} will still remain even though BOA is receveing its money back.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 90631
Submitted Via: Web
Date Sent: 2023-07-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-19
Issue: Problem caused by your funds being low
Subissue: Non-sufficient funds and associated fees
Consumer Complaint: I am writing to lodge a formal complaint against Bank of America regarding an incident that has caused severe inconvenience and financial hardship. As a valued client of Bank of America for the past 20 years, I am disheartened by the treatment I have received in light of this situation. In XXXX, my Bank of America account experienced a sudden and unexpected reversal of funds from a claim that was filed in XXXX of the same year. This reversal led to my account balance being deemed insufficient, which has had significant repercussions on my financial stability. I wish to highlight that over the course of my two-decade relationship with Bank of America , I have filed only three claims, reflecting my responsible and diligent use of their services. Despite this long-standing association and my infrequent need for claims, the bank 's decision to reverse the credited funds in XXXX came as an unexpected blow. The claim in question was related to transactions made with an online casino, whose information was stored in my memory and also conveniently saved in the credit card details on my phone app 's wallet. As an experienced and loyal customer, I believed that Bank of America 's robust security measures would safeguard against unauthorized transactions. Moreover, I had taken measures to protect my credit card information through secure means. Given my extensive tenure with Bank of America, I genuinely expected a more proactive and supportive approach from the bank in handling this matter. The reversal of the funds has caused me immense stress and financial strain, as it left my account in an insufficient state, resulting in additional charges and fees. I urge the Consumer Financial Protection Bureau to intervene in this matter and ensure that Bank of America thoroughly investigates the circumstances surrounding the reversal of funds from my account. Additionally, I seek fair compensation for the distress caused, as well as reimbursement for any associated fees or penalties incurred due to the insufficient account balance. I trust that the CFPB will address this complaint with the utmost diligence and attention it deserves. As a long-standing client of Bank of America , I hope to see a resolution that not only rectifies the immediate situation but also reinforces my faith in the bank 's commitment to customer satisfaction.
Company Response:
State: NC
Zip: 28227
Submitted Via: Web
Date Sent: 2023-07-19
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-19
Issue: Fees or interest
Subissue: Problem with fees
Consumer Complaint: I contacted them several times regarding this issue. They also lowered my line of credit limit for no reason/explanation.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 90242
Submitted Via: Web
Date Sent: 2023-07-19
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-19
Issue: Written notification about debt
Subissue: Didn't receive notice of right to dispute
Consumer Complaint: I filed for bankruptcy in XXXX. I contacted my lender, Bank of America, on my first and second mortgages. I successfully obtained a First Responders modification loan on the first mortgage on XX/XX/XXXX, and continued contacting Bank of America to resolve my second mortgage with negative results. A short time later, I received a letter dated XX/XX/XXXX, from Bank of America stating the second mortgage was in the process of a lien cancellation -no further communication from Bank of America XXXX Ten years later, I received a letter postmarked XX/XX/XXXX, from XXXX MI. The enclosed letter dated XX/XX/XXXX, from XXXX XXXX states they are a current holder of a promissory note with a due date of XX/XX/XXXX, for {$500.00} and a current amount due of {$66000.00}. I feared I was dealing with a scam. I immediately filed a dispute with XXXX XXXX on XXXX XXXX. I received a postmarked envelope from XXXX XXXX dated XX/XX/XXXX. The enclosed letter was dated XX/XX/XXXX, with a debt verification response. The letter stated XXXX XXXX XXXX XXXX XXXX North Carolina paid a claim to the original lender, Bank of America , N.A . Under the insurance policy, the lender was required to assign all rights to XXXX XXXX so that we may pursue our own loss mitigation efforts. XXXX XXXX transferred the loan to its new servicing entity, XXXX XXXX XXXX XXXX, who is now the owner of the loan. This was the first communication I received in ten years. XXXX XXXX and XXXX XXXX have the same address. On XX/XX/XXXX, Bank of America misled me by stating the second mortgage lien was in the process of completion. Bank of America and XXXX XXXX failed to disclose the outcome of my second mortgage. XXXX XXXX never notified me or declared they were holders of the note from Bank of America in XXXX. Their negligence and failure to disclose denied me the opportunity to reaffirm or negotiate a settlement for my second mortgage in XXXX. The big banks colluded with investors and insurance companies to buy seconds for XXXX on the dollar. They were lying in wait for folks like myself to regain their financial health and equity and then attack a decade later. There has to be some accountability not to mention multiple regulatory violations for bad faith. As a retired XXXX XXXX XXXX, I am mortified Bank of America misled me on the outcome of my second mortgage. After surviving the Great Recession, I am now being financially ambushed by XXXX XXXX. I am contacting legal counsel and asking CFPB for guidance on this nightmare that should have been laid to rest a decade ago.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 95624
Submitted Via: Web
Date Sent: 2023-07-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-19
Issue: Credit monitoring or identity theft protection services
Subissue: Received unwanted marketing or advertising
Consumer Complaint: This is a notice requesting Bank of America provide a privacy policy that complies with section XXXX of the XXXX XXXX XXXX XXXX, along with opt-out options consistent with XXXX of the same act.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 17055
Submitted Via: Web
Date Sent: 2023-07-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-19
Issue: Opening an account
Subissue: Account opened as a result of fraud
Consumer Complaint: Around XX/XX/2023 I started getting email stating welcome to bank of America. The emails were saying here are the details to your new checking account. I thought it was a spam email and didn't really pay it any attention. well a few weeks later I got a new debit card from bank of America. I called bank America right away. I told them it wasn't fraud they said they will closed the account. Then I got a a letter in the mail asking me to send in my ID and more info regrading this account. I didn't trust it why would i have to give them more of of info if they fraudulently using my personal info. I didn't send it and they never closed it. when they finally closed it it was because of inactivity. at least that's what the email said.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MN
Zip: 553XX
Submitted Via: Web
Date Sent: 2023-07-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-19
Issue: Closing an account
Subissue: Funds not received from closed account
Consumer Complaint: I have XXXX kids and no income right now. I do not have any food for my child at this point. No breakfast or lunch for them. I put in a request for a hardship on XX/XX/XXXX to get my money out of an account that bank just closed down with no warning. Its a little over {$300.00} but it will get my kids the food and gas money we need til I get paid. I am a teach and dont get paid in the summer so I wouldnt bother to do this if the money wasnt very important right now. On XX/XX/XXXX they told me it can take up to 10 days to get a response. Today is 10th day and still no response even after managers many emails. This is inhumane
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 077XX
Submitted Via: Web
Date Sent: 2023-07-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-19
Issue: Unexpected or other fees
Subissue:
Consumer Complaint: In XXXX of XXXX, i was forced to vacate my home due to the impact of Covid-19 and the loss of employment caused by the quarantine orders that were in effect on the city. I lost access to all my correspondence leading me to be homeless and living on the streets. I contracted covid two times during this two year period. I was hospitalized and was in a coma due to this virus. I was homeless, struggling to recover adequately from the virus causing me to permanently lose two of my senses. this has caused many problems for me in my daily activities and how i functioned. i went into a homeless shelter in XXXX of XXXX and resided there until XXXX of XXXX. I was unaware of any benefit that was being paid to my edd debit card. I tried to contact the EDD as well as Bank of America. I was unable to get through and after waiting for hours to then the call be suddenly disconnected was frustrating and difficult for me since i didn't always have the physical and mental ability to go through the long wait and discussion. Bank of America sent me a letter in XXXX of XXXX which stated i had an account that ended in XXXX and if i had any questions regarding said account they were available 24 hours a day. I had gained housing through the shelter program in XXXX of XXXX and after i had an address, i was able to contact the XXXXD to inform them of this change. EDD did not provide any information as to deposits or benefits i was eligible for in the past. I did not find out until i called Bank of America prepaid consumer services toll free number and expressed my concern about an account i did not know was active. Bank of America took this information and filed a dispute for only about almost XXXX dollars. I was unaware of the actual amount that had been in my account. i filed this dispute in XXXX of XXXX, a few days later, i called them again to request paper statements of this account from the initial activation of the card when transactions began. Bank of America then filed a new dispute for XXXX on my behalf. It has been over XXXX calendar days since the first initial dispute. I received acknoledgement of both disputes but have not been able to access my funds that would have potentially prevented my homelessness if i would have known before. Bank of America prepaid services did not provide my full statements i requested, instead they only sent paper copies of the months when my account had already been drained for the funds that were on there. I contacted the IRS and received a copy of my XXXX from the EDD and learned i received XXXX of Unemployment Pandemic benefits all of which i never had access to. I filed a police report regarding this and have also filed an identity theft alert online. I wrote a letter to Bank of America to notify them of the claims they took over the phone. As of this date, i have not received any updates, provisional credit to my funds, and when i requested there be an exemption for the time that has passed since due to bank of america not recognizing the fraud being committed with my card. the fraudster was able to change my information to access my online EDD account and my Bank of America information. Bank of America did not protect my account from being misused and for me to lose that money. i am requesting assistance with this since Bank of America is not responding or answering any of these concerns and questions i have. they are ommitting information to keep me from knowing the actual amounts that were drained. they have chosen which transactions to include without informing me of the full amount there was.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-07-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-19
Issue: Managing an account
Subissue: Fee problem
Consumer Complaint: Dear CFPB Team, I have been a Bank of America customer for over 30 years. My 'Advantage Relationship Banking ' checking account is linked to a Regular Savings Account and a Money Market Savings Account. I have maintained a minimum balance in both savings accounts of {$5000.00} for years -- {$10000.00} min. per month total -- in order to avoid monthly maintenance charges on my checking account. Beginning in XX/XX/XXXX BofA began charging a {$25.00} 'Advantage Monthly Maintenance Fee '. I didn't notice this until XX/XX/XXXX -- 15 months later -- by which time I had been charged {$370.00} in fees despite the fact that my Advantage Relationship Banking checking account was linked to my 2 savings accounts. This monthly service fee was not charged in XX/XX/XXXX, nor in any months prior -- because my checking account was properly linked to my 2 savings account. Over the past month I have called BofA 's customer service line several times, have been transferred to supervisors to explain my concern. I was told to visit a branch and speak to a branch manager - I did so, had to schedule an appointment for a week later. Following the appointment where I spoke to both the bank manager and a 'Credit Solutions Advisor ' I heard nothing for 2 weeks. Yesterday, XX/XX/XXXX, I returned to the bank and asked the bank manager about the status of my complaint about the monthly service fees. She apparently called her supervisor because after 15 minutes she returned to tell me that I had to have a $ XXXX balance to avoid monthly fees. Today I again called the BofA Customer Service number ( XXXX ) and the upshot of 45 minutes on line with a customer service representative ( after conferring with his supervisor ) was that my checking account hadn't been properly linked to the 2 savings accounts, and by not maintaining a minimum XXXX XXXXXXXX balance in my checking account I had incurred the XXXX XXXX monthly charge. Conclusion : I did nothing in XXXX of XXXX to 'de-link ' my checking account from my 2 savings accounts. I believe the bank surreptitiously de-linked them to charge a monthly maintenance fee, expecting that I would not notice it. Today the BofA representative assured me that the checking account has be properly linked to the 2 savings accounts again and that I should incur the monthly charge no longer if I continue to maintain a min. balance between the 2 savings accounts of at least $ XXXX. On the heels of last week 's announcement that the CFPB has ordered BofA to pay more than XXXX XXXXXXXX to customers in fines, junk fees, fake accounts, etc., I am registering my complaint against this blatant effort by BofA to enhance its corporate revenue at the expense of unsuspecting customers such as myself. I welcome any inquiries should you be willing to act on this complaint. Thank you for your service.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 947XX
Submitted Via: Web
Date Sent: 2023-07-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A