Date Received: 2023-07-03
Issue: Closing an account
Subissue: Company closed your account
Consumer Complaint: I am a visiting scholar from XXXX to the United States for approximately 2 months. I opened a checking account with Bank of America ( BOA ) at their XXXX XXXX XXXX on XX/XX/2023. Two days later, my wife wired US {$6000.00} from her account with XXXX XXXX XXXXXXXX XXXX to my newly opened checking account with BOA. However, BOA identified this transaction as a suspected fraud and blocked my access to the account after the receipt of the money. I tried calling their customer service, but they required that I go to the branch in person. I visited the bank in person, and I was told that BOA could not verify the transaction and they instructed me to ask my wife to confirm the legitimacy of the transaction with XXXX XXXX XXXX XXXX, after which I would be able to access my account. However, a few days after my wife confirmed the transaction with XXXX XXXX XXXX XXXXXXXX, I was notified that the account was closed by BOA as a " business decision '' even though my wife had already confirmed the legitimacy of the transaction. This was contradictory to what I was told before. I visited the bank again to enquire about this matter. After spending almost 3 hours at the bank while branch staff made numerous calls, I was told that the account would be closed and I would receive a check for US {$6000.00}, which was the balance of my account. I agreed to this resolution and confirmed with the branch staff the amount that I would receive and the expected delivery date of the check. Then, two weeks later, I received a check for only US {$85.00}, and BOA sent a letter notifying me that they would not return theUS {$6000.00} to me. They said they had frozen the funds. I had to visit the bank again to enquire about this matter. After spending another several hours at the bank while branch staff made numerous calls, I was told that BOA had already returned the funds back to my wife 's account with XXXX XXXX XXXX XXXX and that BOA was no longer in possession of the money. I confirmed several times with the staff that my money has already been transferred out and BOA is no longer in possession of my money. However, after a week, my wife received a letter from XXXXXXXX XXXX XXXXXXXX XXXX notifying that the payment could not be received because BOA did not release the money due to the lack of debit authority. This again was inconsistent with what I was told by BOA branch staff. I can understand that BOA had the right to restrict access to my account when they could not verify the original international transfer, but it was unacceptable that they first ask my wife to confirm rm the transaction, and after she did, they still moved on to close my account. It is unacceptable that they advised me that I would receive the full balance of my account through a cashier 's check but only to tell me later they would not send me the check for the whole balance. It is unacceptable for them to tell me that they had returned the funds to my wife 's account only to find out that they have still yet to release the funds. I have wasted countless hours on this series of issues during the past 5-6 weeks, and they still have not provided me with a clear answer as to how I will get my money back. I did not have access to my money, and I don't even know whether or when I can get my money back. Throughout the process, BOA has repeatedly provided conflicting instructions. My inability to access my money seriously affected my life in the US. I had to live on borrowed money for two months, without a valid bank account. These issues also caused enormous mental stress to me. It has been extremely miserable! I am leaving the United States and returning to XXXX on XX/XX/2023. I really have to get my money back as soon as possible.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NC
Zip: 27514
Submitted Via: Web
Date Sent: 2023-07-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-03
Issue: Opening an account
Subissue: Account opened as a result of fraud
Consumer Complaint: First received a check for {$5.00} from Bank of America a couple of weeks ago, that I thought was odd and possibly a scam so I just held onto it, then about a week later I received a statement from a Bank of America account I never opened. It had a {$5.00} balance, then I got another letter statement about a week later and it said it was a different account number with a XXXX balance? Dates of the accounts were XXXX XXXX XX/XX/XXXX, then the other one was XXXX XXXX XX/XX/XXXX, I called to complain, they said my accounts would be closed but the fraud forms they sent me were very time extensive to fill out and mail to them. They asked for physical scanned copies of my license and Social Security card, which seemed absolutely bananas to ask for that over the mail as it could be intercepted and ruin my life, especially as I was just the victim of identity fraud and someone just used my SSN to open not one but two different Bank of America accounts without being in person with any identification. They also asked for me to get a copy of a social security statement, proof of residency, all original account documents, police reports, a crazy amount of stuff considering they let some scammer just open 2 accounts with none of this. When I called about it, the woman on the phone sounded like she was mocking me like oh the REAL person would have those documents, how do we know Im even talking to the real person? I have the documents, I dont think its safe to mail them and its actually illegal in 17 states to send SSNs by mail so idk what they are doing. Im planning to go down with my documents in person but again I just got defrauded, I dont want them to make copies of my social security card. When this account was opened, it didnt show up in my life lock or in my XXXX XXXX so I dont feel like B of A is reporting things appropriately. And they are letting people open up checking accounts online without ID, but making it incredibly hard to close fraudulent ones and prevent it from happening again
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MA
Zip: 016XX
Submitted Via: Web
Date Sent: 2023-07-03
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-29
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: I'm writing to request assistance to address what we believe is a failure by Bank of America ( BoA ) to provide mortgage relief to homeowners such as ourselves as required by its settlement with the Department of Justice after the bank 's acquisition of XXXX XXXX We obtained a mortgage from XXXX XXXX XXXX XXXX operated by XXXX, to purchase a house in XXXX Texas in XXXX. As part of BoA 's settlement, it was supposed to forgive or reduce the amount owed on first and second mortgages it held and obtained as part of its acquisition of XXXX In our case, we had just exited bankruptcy in XXXX and didn't think we would have the credit history that would allow us to get a loan Ito buy a home. But when we were looking for a home, an independent broker approached us and explained how. he could help us obtain a loan despite our credit history. Ultimately, he was able to help us obtain a {$320000.00} first mortgage and an {$85000.00} second mortgage to purchase a house with no money down. But the first mortgage was a 1-year adjustable mortgage with a 9.78 % rate and a balloon payment after three years. The payments were high and after the first year the payments escalated when the rate went un Like many pennle, the financial crisis made it very difficult for us to make over {$5000.00} in monthly payments for both mortgages, even with my husband working two jobs ( I was XXXX ). In XXXX BoA sent us a home equity forgiveness letter that was supposed to expunge our second mortgage and they modified our first mortgage by changing it from a 1-year variable rate martgage to a 30-year fixed martgage that reduced the payments to {$2900.00} per month. But my husband lost his job, which made making even that payment difficult and we filed for bankruptcy again in XXXX ( XXXX XXXX ). We were able to get our first mortgage payment reduced to about {$2000.00} through the court! and continued to make those payments until my husband had XXXX XXXX XXXX in XXXX. We sought bankruptcy protection again ( XXXX XXXX ), but our request for further modification was denied. It was around XXXX that we became aware that BoA had not discharged the second mortgage but instead combined it with the first, despite our having received a release of lien on the second mortgage ( that we had misplaced until we found it again when we tried to sell our house in XXXX At that time BoA claimed that our total unpaid balance was {$430000.00}. When BoA refused to acknowledge the discharge of our second mortgage and modify our first by reducing the principal balance further, we attempted to get assistance through HUD 's Home Affordable Refinance Program ( HARP ) based on my bushand 's health conditing, hut nnthing same nf that. We stopped making mortgage payments while in bankruptcy but paid our homeowners association and insurance payments directly rather than through an escrow account. We made the court-ordered monthly payment of {$1500.00} on our non- mortgage debts from XXXX, but as we were seeking to exit bankruptcy BoA once again came in to claim that they were still owed unpaid accrued principal and interest on what was still a first and secand martgugte, but byr thar they tatalad {$74.00} XXXX. We filed for XXXX XXXX bankruptcy in XXXX to address this debt specifically, but at some point BoA sold our loan ( s ) to XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. We attempted to resolve this mortgage debt once and for all, first with a short sale and deed in lieu of foreclosure in XXXX and then a straight out sale as the housing market had improved in XXXX and XXXX. But by then, and although we held the deed, the combination of mistakes by BoA ( forgiveness of the second mortgage, etc. ) coupled with our multiple bankruptcies made it difficult to establish clear title to the property and who had a properly recorded lien against it. As a result, two attempts to sell our property in XXXX were scuttled over incomplete and inaccurate information on the closing documents and disclosures and disagreements over who had a lien and whether we were entitled to any excess proceeds ( after debt extinguishment and exiting XXXX XXXX bankruptcy ). It was then that we found out that BoA had lender-placed insurance on our home, because they didn't know that we had been paying for a policy outside of any escrow, and at closing they wanted to recoup the premiums they paid but that were not necessary. We also found out during these closings that a broker fraudulently obtained a loan modification in XXXX XXXX that we did not authorize using loan documents with our forged signatures. For all of the reasons noted above, we do not beliewe that BoA ( now XXXX XXXX ) is owed what they claim they are owed, but because of the problems they helped to create we are unable to sell our house. We ask for whatever assistance you can provide, including referring this matter to those other federal agencies that might have jurisdiction over mortgage and banking matters. Thank you.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 75069
Submitted Via: Web
Date Sent: 2023-06-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-29
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: In accordance with the fair credit Reporting act XXXX Account # XXXX, has violated my rights. 15 USC 1681 Section 602 States I have the right to privacy. 15 USC 1681 Section 604 A Section 2 : It also states a consumer reporting agency can not furnish a account without my written instructions. 15 USC 1666B : A creditor may not treat a payment on a credit card account under a open end consumer credit plan as late for any purpose
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 751XX
Submitted Via: Web
Date Sent: 2023-06-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-29
Issue: Fraud or scam
Subissue:
Consumer Complaint: Commencing on or about XX/XX/2023, I fell victim to a multi-layered scam operation run by XXXX XXXX Clone which involved me making deposits for a total amount of XXXX USD from XXXX Bank of America account to a fraudulent investment firm ( s ).
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 92614
Submitted Via: Web
Date Sent: 2023-06-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-29
Issue: Problem with a lender or other company charging your account
Subissue: Transaction was not authorized
Consumer Complaint: Bank of America debited {$190.00} from my checking account authorized according to them by XXXX. I do not have an account with XXXX. I do not own a car financed by them and never authorized any transaction.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TN
Zip: 38111
Submitted Via: Web
Date Sent: 2023-06-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-29
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have a Countrywide Mortgage ( Deed of Trust ) which originated in XXXX. Bank of America Services the mortgage. On XX/XX/XXXX Bank of America answered four separate complaints that I had made to the CFPB with one response ( attached ). Instead of answering each complaint separately Bank of America chose to pick and choose which issues to answer from the four complaints and which to ignore. In addition I still have not received the answer to a fifth complaint that Bank of America told the CFPB they issued on XX/XX/XXXX concerning five payments I made in XXXX and XXXX of XXXX in the amount of {$23000.00} at the request of Bank of America to have 18 months of Covid-19 payments deferred until the end of the loan. * The XX/XX/XXXX answer states in the second paragraph : " Please understand Bank of America is not your attorney, Bank of America has retained counsel in this matter. If you have additional questions... you may contact XXXX XXXX XXXX, XXXX. at ... '' In the fourth paragraph of the Answer, Bank of America states : " When a person requests this assistance from the state, Bank of America generally receives a signed third-party authorization from HAF. As of the date of this correspondence we have not received a properly executed authorization form from the program. '' The lawyer representing Bank of America at the Law Firm of XXXX I. XXXX, XXXX. ( XXXX XXXX XXXX XXXX told me that I have submitted the correct HAF ( Homeowner Assistance Fund ) letter as did a Bank of America Employee who I spoke to on the day before XXXX ( XX/XX/XXXX ). The Bank of America employee I spoke to stated that the reason the HAF letter had not been found was that whoever received it in XXXX of XXXX marked it as " Fax Cover Page. '' It had been faxed in by the manager of a Bank of America Branch for me.The employee I spoke to on XX/XX/XXXX apologized and took me out of the " Foreclosure '' designation and stated he had authorized payments to be received on my account. He said once the HAF letter was there that payments could not be blocked. As stated above the attorney at XXXX XXXX XXXX, XXXX. told me that I have submitted the correct HAF letter. He also stated that I am not in " foreclosure '' and that the " foreclosure '' is on hold because of the HAF letter. In addition the attorney at XXXX XXXX XXXX, XXXX. agrees that XXXX. I XXXX, XXXX. was the Trustee of the Deed of Trust from the origination of the loan in XXXX until the end of XX/XX/XXXX. In the beginning of XX/XX/XXXX, While XXXX XXXX. XXXX was the Trustee. I was approved for Covid-19 forbearance and told that once that forbearance period was over I would have the months that were in forbearance deferred until the end of the loan or when I sold the house. This was the policy that the President of Bank of America stated publicly. Regarding the chain of title for the property there is no dispute regarding that it was originally a Countrywide Deed of Trust ( Mortgage ) with a Countrywide note. There is no dispute that the Trustee was XXXX XXXX. XXXX, XXXX. The only issue that has not been answered is how at the end of XXXX of XXXX was Bank of America ( Which bought Countrywide ) legally able to create a document which changed the Trustee to XXXX XXXX XXXX XXXX XXXX acting as the Trustee for a specific XXXX Countrywide Mortgage Backed Security ( MBS ) Tranche. Many articles, class action settlements, a Department of Justice Settlement and lawsuits have focused on the fraud that Countrywide and Bank of America engaged in. My Note is a typical high interest note ( that I've paid close to a Million Dollars on already ) with a ten year initial interest only period and then a twenty year repayment period. To change the nature of the Deed of Trust suggests Bank of America is moving old Countrywide Deeds of Trust around for some reason. Maybe tranche warfare is back XXXX XXXX XXXXXXXX XXXX XXXX XXXXXXXX. Regardless of how Bank of America responds to this complaint it needs to be stated that much of what Bank of America is doing to me in the way they answer my complaints to the CFPB, be it answering only what they want, providing false answers that contradict their Attorney whose firm was the Trustee ( from XXXX to the end of XX/XX/XXXX ) and stating they have answered a complaint on XX/XX/XXXX but I have yet to receive it as of XX/XX/XXXX is reminiscent of what the Judge found in the XXXX case ( XXXX XXXX XXXXXXXX ) : For punitive damages, XXXX XXXX stressed that the award had to be " sufficient to have a deterrent effect on Bank of America , '' especially because of the role of top management and corporate culture in the case. The judge cited communications from the office of Bank of America 's CEO, both to the XXXX and to the Consumer Financial Protection Bureau, the watchdog agencycurrentlyunder attackby the Trump administration. After the XXXX petitioned CFPB about the case, XXXX XXXX wrote that BofA lied to the agency by denying that they ever foreclosed. " The oppression of the XXXX can not be chalked off to rogue employees betraying an upstanding employer, '' XXXX XXXX wrote. " This indicates that the engine is driven by direction from senior management. '' He even added that the misconduct of the CEO 's office " strayed across the civil-criminal frontier. '' * I have a Countrywide Mortgage that originated in XXXXBank of America services the mortgage for XXXX XXXX XXXX XXXX XXXXXXXX ( as of XXXX ) XXXX XX/XX/XXXX I received the attached response from Bank of America which was also sent to The Consumer Financial Protection Bureau responding to my complaint in case number : XXXXThe fifth paragraph of the letter from XXXX XXXX XXXX, Resolution Specialist, Regulatory Complaints states : '' During a telephone conversation on XX/XX/XXXX, I discussed that in order to be approved for a payment deferral, your loan must be no more than 18 months past due. At the time of the call the loan was paid through the XX/XX/XXXX installment and didn't qualify as it exceeded the deferral program requirements.In XXXX of XXXX I made four full payments of {$4600.00} to bring the payments down to 17 months past due and in the beginning of XXXX I made an additional full payment of {$4600.00} to keep the payments at 17 past due.The customer service representatives I spoke told me me that I would be approved for a deferral of the 17 months of payments that were allowed to be put into forbearance during the Covid-19 period and that they would be tacked onto the back of the mortgage as a balloon payment.I relied on those statements and statements of XXXX XXXX XXXX when I made the four payments.If a Bank of America employee from the Regulatory Complaints Department makes a statement in a letter responding to a complaint the consumer has filed with the Consumer Financial Protection Bureau and the consumer relies on that statement and then Bank of America should honor those statements.As of today 's date, Bank of America has has not deferred the 17 months of Covid-19 forbearance.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: DC
Zip: 200XX
Submitted Via: Web
Date Sent: 2023-06-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-29
Issue: Getting a loan or lease
Subissue: Credit denial
Consumer Complaint: On XX/XX/2023 I applied for a business auto loan on XX/XX/2023 I received an email that I was approved in the email it advised me to give the company a call. I called in spoke with a representative who also agrees that I was approved minutes later she told me I had been denied because their 3rd party couldnt verify my current address. I explained to her I could provide proof address she said no and sent me a denial email. I asked to speak to a supervisor she said one was not available and someone would call me back. I later received a call from XXXX saying the same thing but they couldnt provide me with the 3rd party who has access to my personal information I would like to know what 3rd party they are using. XXXX stated she would reach out to her manager and give me a call back later which I still have not heard anything back yet. I called back later that evening and I was told the 3rd party updates every 30 days and mine has not been updated since XXXX so it seem to me that is an error on the bank end not mine I would like to be given the option to provide proof of my residency so that I can proceed with my loan approval attached you will find the loan approval and the reason for loan denial this is wrong and I am asking for help. My address is current on my XXXX credit report which all customer service representatives I spoke with confirmed so I would like to know where they are getting their inaccurate information from. Thank you
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 77072
Submitted Via: Web
Date Sent: 2023-06-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-29
Issue: Managing an account
Subissue: Problem accessing account
Consumer Complaint: This complaint is about Bank of America disclosing sensitive beneficiary information by adding it to the addressee line of mailed correspondence. I recently updated my bank of America checking and savings account with a designated beneficiary. Subsequently, to my shock and dismay bank account statements arrived in the mail conspicuously displaying the name of my designated beneficiary right along with mine as addressees. From my perspective this unnecessary and unwarranted disclosure of my beneficiary is an outrageous breach of confidentiality. Accordingly, I immediately lodged my objection by email addressed directly to Bank of Americas XXXX, XXXX XXXX. As a result, I was contacted by representatives from the Executive Response Team. Unfortunately, the representatives didnt seem to have a rationale or remedy for the breach. Apparently, their sole purpose for contacting me was to affirm that the beneficiary addition to the addressee line of correspondence is Bank of America policy. At this point, I am left with the impression that Bank of America chooses not to acknowledge the potential for harm that could ensue from their unauthorized and unwarranted disclosure of sensitive beneficiary information. For me personally, this willful disregard for beneficiary confidentiality is entirely unacceptable. However, I want to afford Bank of America ample opportunity to reassess the impact of this intrusive policy before I take further action. My expectation is that Bank of America will expeditiously review and adjust its operation to actively safeguard my beneficiary information. In particular, taking the necessary steps to ensure that my beneficiary information is not viewable from outside the envelope of any correspondence, and confidentiality is preserved going forward.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30005
Submitted Via: Web
Date Sent: 2023-06-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-29
Issue: Problem with a lender or other company charging your account
Subissue: Transaction was not authorized
Consumer Complaint: Fraudulent transactions were charged on my debit card ending in XXXX. Two different rental car merchants, also international fees as well. I work 6 days a week in XXXX VA with XXXX XXXX XXXX, and I own a vehicle. After the international transaction, I reported my card with the fraud department of Bank of America. I was in the process of waiting for a new card, 12 days or so later, another transaction from a car rental charged my compromised card, XXXX XXXX and left me in the negative for over 2 weeks, in the midst of me waiting for a new card to arrive at my home. I contacted the merchant, and the merchant claimed, I did this transaction over the phone. Bank of America claims, I have a signed contract with this merchant. I requested for all paperwork to be mailed to my home as I am presently waiting for. Contradiction number 1. I had direct deposit with BofA and it took me out the minus while still waiting for them to come to a decision about giving me my money back. I went to the bank personally and sat with my banker, XXXX XXXX over an hour, about every fraudulent transaction, which she was my banking online did not match whats on my compromised card. Contradiction number 2. How can my bank still let a merchant get into my account through a compromised card, without overdraft protection which left me XXXX in the minus for over 2 weeks? After opening the claim, which had been open over a month without credit, nor a real explanation why, leaves me to believe, this is an inside job, with someone who works with BofA that has direct contact with this fraudulent merchant. Why I say this, is because, after a month later, not even 3 days ago, the same merchant went into my account again, and minused me another XXXX . How, when I am two debit cards later after this compromised card, had been reported, and not only is my XXXX dollars missing, but now Im minus again at XXXX XXXX? Im tired, Im stressed and it is causing me a hardship for reporting to my job. I need help, can someone help me? Im going to the police to file a report on the bank as well as the merchant. Ive been banking with this bank for over 10 years.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: VA
Zip: 23223
Submitted Via: Web
Date Sent: 2023-06-29
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A