Date Received: 2023-05-07
Issue: Other transaction problem
Subissue:
Consumer Complaint: THIS IS LETTER I SENT BANK OF AMERICA in LATE XXXX, XXXX. I ALSO EMAILED THEIR EXECUTIVE OFFICES. THEY RESPONDED BUT SAID THE TERMS OF BANK OF AMERICA AND XXXX IS THAT IF MONEY IS SENT, IT'S GONE, UNLESS I CAN PROVE THEIR LIABILITY : On XX/XX/XXXX and XX/XX/2023, I entered an incorrect phone number, XXXX, and sent {$350.00} total ( {$150.00} + {$200.00} ) to that incorrect phone number while using XXXX and being logged into my Bank of America account. I made a mistake that many others have also made, many who have brought and will bring legal action against their banks and XXXX under the EFTA. The Consumer Financial Protection Bureau issued a statement that XXXX transactions are covered by the EFTA, Reg. E, and therefore, federal law requires Bank of America to refund or credit my account : The Electronic Fund Transfer Act ( EFTA ) and Regulation E apply to an electronic fund transfer that authorizes a financial institution to debit or credit a consumer 's account. 12 CFR 1005.3 ( a ). The term account means a demand deposit ( checking ), savings, or other consumer asset account ( other than an occasional or incidental credit balance in a credit plan ) held directly or indirectly by a financial institution and established primarily for personal, family, or household purposes. 12 CFR 1005.2 ( b ) ( 1 ). It includes a prepaid account, as defined by Regulation E. 12 CFR 1005.2 ( b ) ( 3 ). The term electronic fund transfer or EFT means any transfer of funds that is initiated through an electronic terminal, telephone, computer, or magnetic tape for the purpose of ordering, instructing, or authorizing a financial institution to debit or credit a consumer 's account. 12 CFR 1005.3 ( b ) ( 1 ). Accordingly, Regulation E applies to any person-toperson ( P2P ) or mobile payment transactions that meet the definition of EFT, including debit card, ACH, prepaid account, and other electronic transfers to or from a consumer account. 12 CFR 1005.3 ( b ) ( 1 ) ( v ) ; Comment 3 ( b ) ( 1 ) -1.ii. Futhermore, the EFTA states that a credit/refund must be issued if an error is made. In this case, despite the Bank of America letter that erroneously claims no error was involved, so the Bank has no liability, under the EFTAs definition of error listed below, there was clearly an error of an incorrect phone number being entered by me and the money being sent to an incorrect person, thus falling under the protection of the EFTA. The pertinent part below is this section of the error definition : An incorrect EFT to or from the consumer 's account ; The EFTAs full definition of error and directions to the bank to immediately credit the account holder of the funds involved : Procedures for Resolving Errors Section 205.11 This section defines " error '' and describes the steps the consumer must take when asserting an error in order to receive the protection of the EFTA and Regulation E, and the procedures that a financial institution must follow to resolve an alleged error. An " error '' includes any of the following : An unauthorized EFT ; An incorrect EFT to or from the consumer 's account ; The omission from a periodic statement of an EFT to or from the consumer 's account that should have been included ; A computational or bookkeeping error made by the financial institution relating to an EFT ; The consumer 's receipt of an incorrect amount of money from an electronic terminal ; An EFT not identified in accordance with the requirements of sections 205.9 or 205.10 ( a ) ; or A consumer 's request for any documentation required by sections 205.9 or 205.10 ( a ) or for additional information or clarification concerning an EFT. ( Section 205.11 ( a ) ( 1 ) ). The term error does not include : A routine inquiry about the balance in the consumer 's account or a request for duplicate copies of documentation or other information that is made only for tax or other recordkeeping purposes. ( Sections 205.11 ( a ) ( 2 ) ( i ), ( ii ), and ( iii ) ). The fact that a financial institution does not make a terminal receipt available for a transfer of {$15.00} or less in accordance with 205.9 ( e ). ( Staff Commentary 205.11 ( a ) -6 ). A financial institution must comply with the error resolution procedures in Section 205.11 with respect to any oral or written notice of error from the consumer that : The financial institution receives not later than 60 days after sending a periodic statement or other documentation first reflecting the alleged error ( but see 205.14 and 205.18 ) ; Enables the financial institution to identify the consumer 's name and account number ; and Indicates why the consumer believes the error exists, and, to the extent possible, the type, date, and amount of the error. ( Section 205.11 ( b ) ( 1 ) ) A financial institution may require a consumer to give written confirmation of an error within 10 business days of giving oral notice. The financial institution must provide the address where confirmation must be sent. ( Section 205.11 ( b ) ( 2 ) ) Error Resolution Procedures. After receiving a notice of error, the financial institution must : Promptly investigate the oral or written allegation of error, Complete its investigation within 10 business days, ( Section 205.11 ( c ) ( 1 ) ) Report the results of its investigation within three business days after completing its investigation, and Correct the error within one business day after determining that an error has occurred. The financial institution may take up to 45 calendar days ( Section 205.11 ( c ) ( 2 ) ) to complete its investigation provided it : Provisionally credits the funds ( including interest, where applicable ) to the consumer 's account within the 10 business-day period ; Advises the consumer within 2 business days of the provisional crediting ; and Gives the consumer full use of the funds during the investigation. Finally, the phone number that I sent the money to was also registered with XXXX. A Bank of America rep told me to call that person and try to get the money back. Neither Bank of America nor XXXX would offer any help. I called that number, and as expected, we began arguing when the person denied receiving the money ( the transfer to this person can easily be traced, so denials are irrelevant ). It is hard to believe that Bank of America and XXXX would pit me and this person who received the money against each other. It is completely foreseeable by Bank of America and XXXX that a conflict would arise in such a situation. Foreseeability is the basis of all civil case claims, so in essence, telling customers to fight it out is outrageous. We are not talking about fraud or a scam, these are two bank account holders whose identities are known. Bank of America and XXXX should both have a process to handle such occurrences on their end without encouraging conflict. Thank you for your attention and anticipated quick action to credit/refund my clients account for {$350.00}.
Company Response:
State: FL
Zip: 32812
Submitted Via: Web
Date Sent: 2023-05-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-07
Issue: Opening an account
Subissue: Account opened as a result of fraud
Consumer Complaint: Someone tried to open a checking, savings and auto loan in my name at Bank of America
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 173XX
Submitted Via: Web
Date Sent: 2023-05-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-07
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: i was denied credit card with XXXX XXXX not sure why when all of my debts are paid in full. I know about the 1099c, 1099b, ucc3 103, ucc3 104, hjr 192, etc. please delete report off of my record and approve my credit card to me. it is my rights to own one.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33805
Submitted Via: Web
Date Sent: 2023-05-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-05
Issue: Getting a credit card
Subissue: Delay in processing application
Consumer Complaint: I got a verify your email address email at XXXX, followed with a Welcome to online and mobile banking from bank of america XXXX called to find out it was not approved but was guided to flag my social from the bank of america representative.
Company Response:
State: VA
Zip: 225XX
Submitted Via: Web
Date Sent: 2023-05-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-06
Issue: Trouble using your card
Subissue: Can't use card to make purchases
Consumer Complaint: This is not a complaint in the traditional sense, I just want to convey my inconvenience to the bank of America through the CFPB. My credit card was frozen after I recently attempted to purchase an item. I called the number I was asked to call in online banking. Customer service asked me to bring my ID to the branch to unfreeze the credit card. However, I am currently suffering from XXXX and I can not walk until I receive adequate treatment. Therefore I am unable to go to the branch. However, I can upload my ID, green card, passport, etc. to Bank of America to verify my identity. I currently have balances on two credit cards with BOA that I still need to pay and I don't want my credit score to be damaged next month. Please help me out with this solution.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 11220
Submitted Via: Web
Date Sent: 2023-05-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-06
Issue: Problem with a purchase or transfer
Subissue: Charged for a purchase or transfer you did not make with the card
Consumer Complaint: XX/XX/2021 XXXX XXXX transfer that was not picked up from XXXX XXXX But yet not return to my account. Amount of {$5000.00}.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 95901
Submitted Via: Web
Date Sent: 2023-05-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-05
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: On XX/XX/XXXX a letter was mailed to XXXX regarding improper reporting and XXXX did not respond. A complaint was submitted to the CFPB on XX/XX/XXXX regarding this issue and as of XX/XX/XXXX the matter is still open and pending. XXXX has updated all open accounts as agreed while investigation is in progress. I, the consumer, am submitting this complaint as a follow-up to the XX/XX/XXXX complaint. The closed account with Bank of America is still reporting adverse items. Per 15 USC 6805 CFPB must enforce all the following regulations : Per 15 USC 1681a ( 2 ) ( A ) ( i ) financial transactions by consumer are not to be reported without my permission. Per 15 USC 1681c no adverse item of information may be reported regarding my consumer information unless it is a conviction of a crime. Per 15 USC 1681n ( a ) due to willful noncompliance, I am entitled to up to XXXX US dollars Per 15 USC 1681o ( a ) due to negligent noncompliance, I am entitled to actual damages sustained as a result of failure to comply Per 15 USC 1681s ( a ) ( 2 ) ( A ) I, the consumer an entitled to not less than XXXX US dollars per violation of each willful or negligent noncompliance in a United States district court Per Privacy Act of 1974 ( 5 USC 552a ( 4 ) ( b ) I must consent to any disclosure of my records.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NC
Zip: 28269
Submitted Via: Web
Date Sent: 2023-05-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-05
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: On XX/XX/XXXXXXXX a letter was mailed to XXXX regarding improper reporting and XXXX did not respond. A complaint was submitted to the CFPB on XX/XX/XXXX regarding this issue and as of XX/XX/XXXX the matter is still open and pending with no response from XXXX at this time. I, the consumer, am submitting this complaint as follow up to the 4/17/2023 complaint. P er 15 USC 6805 CFPB must enforce all the following regulations : Per 15 USC 1681a ( 2 ) ( A ) ( i ) financial transaction by consumer are not to be reported without my permission. Per 15 USC 1681c no adverse item of information may be reported regarding my consumer information unless it is a conviction of a crime. Per 15 USC 1681n ( a ) due to willful noncompliance, I am entitled to up to XXXX XXXX dollars Per 15 USC 1681o ( a ) due to negligent noncompliance, I am entitled to actual damages sustained as a result of failure to comply Per 15 USC 1681s ( a ) ( 2 ) ( A ) I, the consumer an entitled to not less than XXXX XXXX dollars per violation of each willful or negligent noncompliance in a United States district court Per Privacy Act of 1974 ( 5 USC 552a ( 4 ) ( b ) I must consent to any disclosure of my records.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NC
Zip: 28269
Submitted Via: Web
Date Sent: 2023-05-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-05
Issue: Opening an account
Subissue: Account opened as a result of fraud
Consumer Complaint: On XX/XX/2023, an account was attempted or was opened in my name at Bank of America. On XX/XX/2023, I received an XXXX alert stating an account was opened in my name. I did not attempt to open an account at Bank of America. I spoke to someone at Bank of America on XX/XX/XXXX and they stated the account application was declined. I am still worried about fraud so I have frozen all 3 credit bureaus and XXXX profile. The only thing I can connect to BOA, is that I applied for a credit card on XX/XX/2023, which was declined. So, they would potentially still have my information on file.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MA
Zip: 02301
Submitted Via: Web
Date Sent: 2023-05-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-05
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 have contacted the company directly on many occasions over the phone. I keep being told that they will not accept payment on my debt and that my debt has been discharged. Ive been told several times and I even sent the credit bureaus a credit report challenge letter to look into the matter. I am trying to repair my credit and the company will not allow me to make a payment to settle the account and they will not remove the negative mark on my report either.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33907
Submitted Via: Web
Date Sent: 2023-05-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A