Date Received: 2023-05-16
Issue: Closing an account
Subissue: Fees charged for closing account
Consumer Complaint: Stop sending me tons of paperwork to my mom address I dont bank with yall and never will. I wont fill out identity theft that means I have to go to the police and I dont want to deal with the police I got too much stress going on Stop sending me mail all my accounts are paid off in full you send me total of XXXX paperwork in total!!!! Stop it
Company Response:
State: TX
Zip: 75134
Submitted Via: Web
Date Sent: 2023-05-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-16
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: I started an Investigation In XX/XX/2023 with Bank of America. They had reported a 30 days late on my three bureaus report ( XXXX, XXXX XXXX and XXXX ) for the month of XX/XX/2023. After speaking to a representative they stated that they had made an error and they would start an internal investigation. They also stated that it would take 30 business days for them to complete their investigation. This month ( XXXX ) I ran my reports and they were able to reverse the 30 day late remark for the month of XXXX but only on XXXX. I called them back today to find out what had happened and why they were still reporting the 30 days late on XXXX XXXX and XXXX. I spoke to a manager today because this is the third attempt and time I have called for answers and to complain. Today, the manager stated there was no error and the reason why XXXX might show no late payment history is because they don't report to XXXX. I called XXXX directly, and challenged this because they have always reported to XXXX, and this made no sense. I have a copy of my XXXX report from XX/XX/2023 with a late payment, and I have XXXX 's report with no late payments. There's clearly an internal miscommunication and reporting issue within Bank of America 's end. I am currently under contract with a mortgage company to close on a property this month and because of this discrepancy there's a big possibility I might not close and lose my deposit, this is causing a lot of distress for both my family and I. Can you please help to rectify this error on their part, thanks!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 34986
Submitted Via: Web
Date Sent: 2023-05-16
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-16
Issue: Lost or stolen check
Subissue:
Consumer Complaint: My XXXX federal tax return was deposited into the wrong account of a bank of america customer
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 92119
Submitted Via: Web
Date Sent: 2023-05-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-16
Issue: Problem with a lender or other company charging your account
Subissue: Transaction was not authorized
Consumer Complaint: My daughter is on my account, and she was contacted by someone claiming to be with Bank of America, where I have my account with. They claimed someone was trying to access our account and take {$3500.00} in another state, so they asked for account information so they could stop this from occurring. My daughter gave the information and they ended up taking {$7000.00} from my account. I attempted to get the fraud department to help me recover my funds, but they said they couldnt help me. It is a lot of money to get scammed out of, so Im looking for help
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OR
Zip: 97224
Submitted Via: Web
Date Sent: 2023-05-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-16
Issue: Improper use of your report
Subissue: Credit inquiries on your report that you don't recognize
Consumer Complaint: On XX/XX/XXXX I received a fraud alert from two of the major credit bureaus and a government credit monitoring agency informing me that an account with Bank of America has opened by using my social security number. I immediately tried to contact Bank of America with the information provided by the credit bureaus with no success. It seems that you must have an account to talk to a live person over the telephone. I have yet to hear anything from Bank of America.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TN
Zip: 381XX
Submitted Via: Web
Date Sent: 2023-05-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-16
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XX/XX/XXXX Bank of American locked all my three accounts including online access, one the accounts is my business account that has money that belongs to my clients used to manage their properties. I have been Bank of America 's client for about forty ( 40 ) years and during that time I have transferred money to other banks for CD purposes on a regular basis without any issues, however, during the last three months I decided instead to wire money to other banks for the purpose of trade. From the beginning BoFA would purposely delay the wires and contact the other banks alleging that the money is fraud to the point that those banks would deny my accounts with them. Each time I wired money I would get constant annoying calls from BoFA wanting to know why am I wiring money and why do I want to get involved with XXXX and badmouthing to those banks so that their clients would in turn denied my access, including a {$100.00} transfer that I attempted to send via BoFA debit card to XXXX as BoFA declined the transfer and consequently XXXX denied my access. BoFA is even delaying cashing a check that was transferred to BoFA when one of my CDs matured weeks earlier. BoFA illegally locked my accounts without good cause knowing well that the trail of money came from matured CDs. BoFAs illegal behavior has caused me great financial hardship and emotional distress.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 333XX
Submitted Via: Web
Date Sent: 2023-05-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-16
Issue: Other features, terms, or problems
Subissue: Problem with balance transfer
Consumer Complaint: The promotion rate of my Bank of America Visa expires this month. I told the bank that I wanted to transfer the balance to a new card. I was told when I opened the new account that I should call to do the balance transfer when I get the new card. I received the new card today and called the bank to do the balance transfer as I was told to do, however when I called I was told that Bank of America can not pay off another BOA credit card. I was totally mislead. If they can not transfer the balance I want the account removed from my credit report and also remove the inquiry. BOA case # XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 90807
Submitted Via: Web
Date Sent: 2023-05-16
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-17
Issue: Problem with a purchase shown on your statement
Subissue: Card was charged for something you did not purchase with the card
Consumer Complaint: I have a serious concern about BOA and how it's protection process to the unauthorized charges and ID theft on customer 's account. I have been reaching out the the fraud department as well as provide several evidences showing the transactions on the stolen credit cards are unauthorized. BOA has never reach out nor provided helpful assistance when I called in. The members in the fraud department are super unprofessional and irresponsible, they requested responses from me a minute before closing the claim and hurrying me to pay the unauthorized balance. I am serious asking my lawyer to prepare legal document against BOA 's unprofessional behavior. Below are the evidence to the ID theft transactions. I am writing this letter in response to claim number XXXX associated with credit card # XXXX. Upon receiving the decision letter on XXXX XXXX, XXXX, along with the information, the merchant provided claim # XXXX. I am providing you with some information to prove that the total amount of {$7200.00} is unauthorized and associated with identity theft. My wallet was stolen on XX/XX/XXXX. I first noticed it when I returned to work from lunch in XXXX XXXX and received text messages from BOA indicating two transactions from XXXX ( {$3600.00} each ). And I wanted to call BOA 's number on the back of the credit card, but I then found out my wallet had been stolen. Both unauthorized transactions were made at the same time. I called BOA immediately to report the loss. There is one drivers license, one BOA credit card, {$50.00} cash, and a couple of business cards in the wallet. I've opened the claim with BOA twice. The second claim, I even provide solid evidences to prove the information merchant provided is associate to the identity theft activity by the thief, including 1. IP address is not mind, 2. the email address is associated to old account that was expose to ID theft and already been discontinued. 3. I do not recognize the foreign language the merchant provided. 4. The merchant proclaimed that the transactions is for a XXXX game. I have never been to XXXX, and all XXXX games need to be downloaded when a user physically in XXXX. Therefore, it is impossible for me to make the transactions. 5. The thief signed a handwriting form with my driver 's license and credit card in a photo. It is easy to do so with anyone who stole my wallet. However, the signature and handwriting are not match myself. BOA should had my signature on file, but lack of the responsibility to verify it but asking my to be responsible to the transactions the thief made. 6. Not to mention the thief signed as XXXX, which I never used this name. I have provided all documents ( including ID theft report, police report, statements against the merchant 's evident in details with image attached ) and faxed them over to XXXX, but BOA seems never looking into what customers provided rather than urging themselves to get the money. This is the third time I attempted to make the complaint peacefully, and I would choose let my attorney speaks for me next time if BOA continues neglecting to verify the true information but being inclined to the merchants even the evidences from the customers are soiled.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 94901
Submitted Via: Web
Date Sent: 2023-05-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-17
Issue: Problem when making payments
Subissue: Problem during payment process
Consumer Complaint: On XX/XX/XXXX I contacted Bank of America via text chat within mobile app to ask why a balance transfer due XX/XX/XXXX was not being reduced. I was told that any payment made in excess of the minimum payment due is applied to the balance with the higher interest rate. There are XXXX balance transfer offers that I took advantage of. The first, due XX/XX/XXXX, was a 0 % balance transfer offer initiated XX/XX/XXXX for {$3000.00}. The second offer was 1.99 % at end of XXXX XXXX for {$4900.00}, due XX/XX/XXXX. I asked how I could request that the next payment received, which will be XX/XX/XXXX due my bill pay schedule, be applied in FULL to the amount due XX/XX/XXXX balance. The Rep said that to be fair and consistent with all customers they could not, and would not, apply my payment to the balance that is due XX/XX/XXXX. Further in order to pay off the XX/XX/XXXX balance of {$1900.00} I would need to pay the {$3000.00} balance due XX/XX/XXXX. For a total due of {$4900.00}, in less than 2 months. The credit card has always been paid every 2 weeks so has never been late, and all payments have been in excess of the minimum balance so that I meet my obligation to pay off the balance transfer the B of A offered. Yet B of A refuses to allocate my payments as requested so that I will now be charged approx. 30 % interest on a balance transfer of {$3000.00} made XX/XX/XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 92223
Submitted Via: Web
Date Sent: 2023-05-17
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-17
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: My wife and I attempted to borrow money from Bank of America ( BoA ) for the purchase of a second home. We are 20+ year customers of BoA and thought because of the existing relationship, they would be a good choice for a loan. However, what we experienced was BoA perpetuating a bait and switch scheme by offering highly attractive loan pricing, failing to honor that pricing, and then offering to " save '' the loan by requiring a more expensive product. BoA made major changes to our loan pricing THREE TIMES in the 11 days surrounding our closing date, despite NO CHANGE in our financial structure or obligations. During the loan process, we sold stock, incurred expenses, and paid down specific debt at the direction of BoA, causing us undue and unrecoverable financial loss. BoA should not be allowed to continue doing business in this way. Here are the details and timeline of our experience : XX/XX/XXXX : Purchase agreement executed. Target closing date is set to XX/XX/XXXX. XX/XX/XXXX : FIRST SET OF LOAN TERMS. Bank of America ( BoA ) sends an official pre-approval letter for 15 % down, 6 %, 30 year fixed for a second home. XX/XX/XXXX to XX/XX/XXXX : We begin selling stock and moving cash into our BoA account to prep for closing. All documents are provided per BoA requests. BoA assures us that we are on track for a XX/XX/XXXX closing. XX/XX/XXXX : 8 days before closing. BoA tells us my credit report has " expired '' and they need to pull a new one. XX/XX/XXXX : 7 days before closing. BoA sends us a draft closing disclosure in the XXXX with the original terms ( 15 % /6 % /30 fixed ). In the XXXX, they tell us my credit score has dropped from a XXXX to a XXXX even though nothing has financially has changed ( no new loans/expenses, no job loss, etc ). All existing debt/income has already been disclosed to BoA via their requests or the previous credit report. BoA claims, that given the new credit score, it can no longer honor the original pricing from XX/XX/XXXX. BoA then sends us a new draft closing disclosure that has 1.7 % in points - a 1.4 % increase from the XXXX closing disclosure. This is roughly an additional XXXX XXXX lender closing costs that would get paid directly to BoA. XX/XX/XXXX : 4 days before closing, SECOND SET OF LOAN TERMS. BoA presents an alternative loan. We can put down 20 % ( instead of 15 % ), pay near zero points, and continue with 6 %, 30 year fixed term. We reluctantly agree to this under protest that BoA has no standing to change the terms at all. XX/XX/XXXX : 3 days before closing. We sell additional stock to cover the increase in closing funds required. We incur losses on these sales because we are unexpectedly having to sell losing positions. XX/XX/XXXX : 2 days before closing. We are told that due to the change in my credit score, the debt/income ratio acceptable to BoA has dropped from 45 % to 43 %. BoA tells us that we are now REQUERED to pay down some of our existing debt ( to lower our monthly payment obligations ) if we want to move forward. XX/XX/XXXX : 1 day before closing. We pay off roughly {$4000.00} in debt, that we otherwise would not have paid off, per BoA 's direction. Proof of payment is sent to BoA. We are told BoA will not be ready to close on the original closing date of XX/XX/XXXX, but that there will not be much delay. XX/XX/XXXX : Original closing day. BoA inquires about a field on the proof of insurance statement the carrier has sent to them. The field specifies that the property will be rented out " for more than 30 weeks '' per year. The information on the insurance form is not correct. BoA asks for, and we provide, a written explanation that the information is inaccurate and that the carrier had arbitrarily chosen the number without consultation. The carrier sends over a revised insurance policy PER THE INSTRUCTIONS OF BoA, changing the rental weeks to 11. Pricing for the insurance does not change with the reduced number of weeks, making the number all but irrelevant. We are told that the loan will close early the following week. XX/XX/XXXX : 3 days after expected closing. Despite a follow-up email from the insurance carrier, BoA tells us that they will not accept the correction on the insurance form. BoA considers the original number excessive for a second home, and despite a reasonable explanation now requires us to use an investment loan. BoA will now not move forward with the 20 % down/6 % /30 year fixed loan they agreed to on XXXX. In order to proceed, BoA will need to treat the property as an investment loan, which requires new loan pricing. BoA tells us they will get back to us soon. XX/XX/XXXX : 4 days after expected closing, THIRD SET OF LOAN TERMS. BoA gives us pricing for the purchase using an investment loan. The new loan terms will be 25 % down, 7 % interest for a 30-year fixed. It is unclear if any points are required. This loan would require an ADDITIONAL XXXX XXXX down, minimum. We tell them the terms are not acceptable and we will not proceed. We are forced to go back to sellers and tell them our financing has fallen through.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 787XX
Submitted Via: Web
Date Sent: 2023-05-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A