Date Received: 2023-07-07
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: I started to deposited a check for {$2200.00} through the Bank of America mobile app on XX/XX/, but when it said there would be a hold until XX/XX/XXXX I decided I would try to deposit it at the bank to hopefully get it available sooner. When I went into the BofA branch located at XXXX XXXX XXXX XXXX XXXX XXXX, OR XXXX to deposit the check on XXXX I was told by the teller that it would be credited in full the next day. Instead, when I checked my account online later that day, I say that a hold had been put on the check until XX/XX/XXXX. The hold was on 100 % of the funds. I called the bank to see what could be done about freeing up the funds, but the agent told me there was absolutely nothing that could be done. When I asked why it had been put on such a long hold, the agent made some very vague statements about how the funds needed to be verified at the other bank, and basically let me know that she didn't understand how it worked, but that there was nothing that could be done. Even when I told her that I was in danger of missing my child support payments and that my daughter is facing food insecurity ( according to my ex-wife ), all they could say was " I'm sorry. There's nothing we can do. '' I tried again the next week to call customer support because my ex-wife was desperately pleading for money, but I got the same response. Then, on Thursday XXXX my brother, who is a credit union auditor for the State of Oregon told me that according to Regulation CC, a bank has to credit at least {$200.00} of any deposit immediately. I looked it up and found it was {$220.00} as of XX/XX/. I called the bank again, ( bear in mind that each of these calls took at least an hour, most of which was spent on hold listening to repeating adds for credit cards ), and spoke to another agent. When I asked her about the Regulation CC requirements, she had no idea what I was talking about. I asked her to escalate me to someone who was responsible for dealing with such issues, which she did. After another extended hold, I asked the next person to explain to me why : 1 ) I did not receive my {$220.00} according to the requirements of Reg CC 2 ) I did not receive any kind of explanation as to why this check was being held for such an extended period of time. She also seemed to be unfamiliar with Reg CC. She put me on hold for another 5-10 minutes to go look it up, and when she returned, she said that according to her research it only applied to checks from business accounts. Her lack of certainty prompted me to look it up myself. I got on ChatGPT and asked the question : " Does Regulation CC requirement to credit {$220.00} immediately apply to personal checks, or only checks from businesses? '' The response was : " Regulation CC does not differentiate between personal checks and checks from businesses when it comes to the requirement to credit {$220.00} immediately. The regulation sets rules for funds availability and the timing of when deposited funds should be made available to customers, regardless of the type of check. According to Regulation CC, the first {$220.00} of a deposit, regardless of the check type, must be made available the next business day [ [ 1 ] ]. '' When I ran this by the agent, she defaulted back to the vague references to systems and processes beyond our knowledge or control. I told here that she needed to escalate this to whoever needed to resolve it, and that if I didn't have either the funds in my bank by today and/or a clear, reasonable explanation as to why Reg CC doesn't apply here, I would be filing a complaint with the CFPB. As of this time ( XXXXXXXX XXXX on Friday, XXXX XXXX XXXX ), I have not been credited with any funds from that deposit, nor have I received an email, phone call or text message regarding it. I am not an expert in Reg CC, but from everything I can tell, Bank of America is ignoring this consumer regulation with impunity. They bank has caused a great deal of stress to me and my ex-wife, not to mention forcing me to waste hours of time trying to access my funds.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 95003
Submitted Via: Web
Date Sent: 2023-07-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-07
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: It was XXXX transaction, which is I havent done at all I dont even know those people. It is very easy to track those people but I dont know why the companies ignore it.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 75034
Submitted Via: Web
Date Sent: 2023-07-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-06
Issue: Managing an account
Subissue: Banking errors
Consumer Complaint: In XX/XX/2023 I received a letter from Bank of America Stating they were closing my checking account. I have never done any type of business with this bank. I called them on XX/XX/2023 and started a complaint for the fraudulent opening of an account in my name. I received a bank statement for period of XXXX XXXX XXXX XXXX showing a negative balance of {$290.00}. All transactions showing for this account were done through XXXX. I provided all documentation Bank of America requested and eventually the sent a statement to me showing a XXXX balance. I have been working with my representative through our identity theft protection company to try and resolve this and receive documentation stating that I am not responsible for this fraudulent account but they still have not sent me anything even after stating they would email something to me. We have called them several times and still have not received the documentation.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 491XX
Submitted Via: Web
Date Sent: 2023-07-06
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-06
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: Booked XXXX prepaid trips with XXXX XXXX XXXX for XXXX and XXXX, In XX/XX/XXXX they sent out notifications that they were closing and no refunds were available, this affected over XXXX people. Auditors found that XXXX XXXX XXXXXXXX used the funds to purchase XXXX, which was fruadulent. Filed with Bank of America as fraud, denied, refiled. Claim # XXXX XX/XX/XXXX Claim # XXXX XX/XX/XXXX XXXX XX/XX/XXXX Claim filed and denied, called to re-open claim XXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AZ
Zip: 85379
Submitted Via: Web
Date Sent: 2023-07-06
Company Response to Consumer: Closed with explanation
Timely Response: No
Consumer Disputed: N/A
Date Received: 2023-07-06
Issue: Managing an account
Subissue: Funds not handled or disbursed as instructed
Consumer Complaint: I was given a credit reversal on XX/XX/XXXX for a service I was coerced into purchasing at the airport, I wasn't even able to use said service, I made claim and received my reversal on XX/XX/XXXX, apparently on XX/XX/XXXX I was given a refund from the merchant, instead of the bank recouping the reversal into their account, they let the refund go into my account, did not notify me of the refund on the XXXX of XXXX in form of letter, email, or in app message. forward to XX/XX/XXXX, the credit reversal was taken away a day before I had to pay my rent, so effectively the balance was in the negative, I woke up to low balance alert and was told I was refunded my money and anything else the bank may have made an error on is on me, I spoke to several customer service reps, supervisor and claims department, all were equally unhelpful, I feel I was charged wrongly a month later, was not notified of any charges or refunds prior as well. I feel they have mismanaged my funds and I'd like to he reimbursed the money they took from my account. I tried complaining to the bank but was refused.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CO
Zip: 80231
Submitted Via: Web
Date Sent: 2023-07-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-06
Issue: Problem when making payments
Subissue: Problem during payment process
Consumer Complaint: I have multiple Bank of America credit card accounts. On XX/XX/ I inadvertently made an electronic bank payment to the wrong Bank of America credit card account. I now have a credit of over XXXX XXXX in one account, and a balance of over XXXX XXXX in the other account where the payment was supposed to be deposited. This is the second time in the past 5 years that I have made this type of error which is not hard to do. The last time this happened, it took Bank of America almost 30 days to correct the error. Meanwhile, I continue to accrue interest on the account that should have been paid, and obviously Bank of America does not pay any interest on the credit balance on the incorrect account. I believe that they are purposely delaying the transfer to benefit themselves at the expense of their customer. There is no justifiable reason for any financial institution to delay a transfer of funds from one client 's account to another after confirmation that they physically hold the funds in their account.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 92691
Submitted Via: Web
Date Sent: 2023-07-06
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-06
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: Dear BANK OF AMERICA, I am writing to dispute inaccuracies that are currently appearing on my credit report, which is affecting my credit standing and financial well-being. I kindly request that you take immediate action to remove and delete the following inaccurate information from my credit report : Account name BANK OF AMERICA , N.A . Account number XXXX Account type Unsecured Responsibility Individual Date Opened XX/XX/XXXX Status Paid, Closed. Status updated XX/XX/XXXX I have thoroughly reviewed my credit report and have determined that these items are incorrect and do not reflect the accurate state of my financial history with your institution. The presence of these inaccuracies is causing significant distress and adversely impacting my ability to access credit and financial opportunities. Under the Fair Credit Reporting Act ( FCRA ), it is your responsibility as the creditor to ensure that the information you report to credit bureaus is accurate, verifiable, and up-to-date. I urge you to conduct an immediate investigation into these disputed items and take the necessary steps to remove them from my credit report without delay. I kindly request that you provide written confirmation of the removal of these inaccurate items from my credit report within 15 days of receiving this letter. Failure to comply with this request may result in further legal action to protect my rights as a consumer under the FCRA. I trust that you will handle this matter with the utmost urgency and professionalism. Should you require any additional information or documentation to support my dispute, please do not hesitate to contact me. Thank you for your prompt attention to this matter and for ensuring the accuracy of my credit report. Sincerely,
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 10003
Submitted Via: Web
Date Sent: 2023-07-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-06
Issue: Problem with a purchase or transfer
Subissue: Card company isn't resolving a dispute about a purchase or transfer
Consumer Complaint: On XX/XX/XXXX i received XXXX on my prepaid card. I did not notice the money until XXXXXXXX when i began to use it, i withdrew XXXX. I noticed before i used the card XXXX was already gone and i did not spend it. I call and spoke to customer service and they tell me there is nothing they can do. I have complained about missing money with customer service on several occasions and this time i am furious. As i look at my statement and it tell me one thing but the lady on the other line is saying something totally different than what i am looking at. Please help because i am the one losing out at the end and it is not fair. I also called again last week because i had unknown pending charges and had to close the card and be issued a new one. All of this happened within the last two weeks and it is not making sense to me at all. I went to get my money off of the card immediately because it was disappearing right before my eyes. Thanks, XXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: 21218
Submitted Via: Web
Date Sent: 2023-07-06
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-06
Issue: Managing an account
Subissue: Cashing a check
Consumer Complaint: Back in XX/XX/2023 i received a check for USDXXXX under my personal name, it was issued by the XXXX Treasury , i deposited this check into my personal checkings account in Bank of America also in XX/XX/2023. Bank of America frozed my account the day after my deposit, they were saying that the check was forged and altered, and that they were going to report me to XXXX XXXX. In XX/XX/2023 they finally decided to close my account, and they have been holding the funds of this check since XXXX, i have called many times to the number XXXX, i have try to provide documentation of why did i received the check, nothing have worked until now. I have also tried to open a personal bank account in XXXX banks and they have closed them. I am feeling a little desperate and with no idea what should be my next step in order to get my funds reimbursed to me.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33024
Submitted Via: Web
Date Sent: 2023-07-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-06
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 presence of a derogatory rating on my account is deeply concerning to me. I am worried about the impact it may have on my credit, as 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 significant financial and XXXX XXXX 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: 33614
Submitted Via: Web
Date Sent: 2023-07-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A