Date Received: 2023-04-29
Issue: Opening an account
Subissue: Account opened as a result of fraud
Consumer Complaint: A checking account was fraudulently opened online with Bank of America using my contact info. I spoke with BofA and they weren't able to share any details of who opened the account or how. I've had my credit frozen with all three credit bureaus for several years. I swore never to do business with BofA again after they wouldn't give me my car title even after my car loan was paid off months earlier. It's not clear if this account was created by BofA or an actual 3rd party pretending to be me. BofA needs to have higher standards for verifying applicants before they open accounts under their name. This is fraud and is indicative of reckless business practices by BofA.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MA
Zip: 017XX
Submitted Via: Web
Date Sent: 2023-04-29
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-29
Issue: Incorrect exchange rate
Subissue:
Consumer Complaint: # XXXX closed # XXXX closed by myself Here are the tracking # 's from both " XXXX to Bank of America '' and `` from Bank of America to my XXXXXXXX XXXX XXXX XXXXXXXX XXXX XXXX Since XXXX XXXX XXXX there has been a discrepancy between the amount I receive and the amount my husband receives on our XXXX, yet we are both supposed to get the same amount from XXXX. Both our XXXX XXXX show the amount is the same for both of us, therefore, the problem lies with the Bank of America and needs to be corrected. As you can see from my documentation, this has been happening from the beginning of XX/XX/2022 up to current day. Our checks are deposited on the same day. The column showing XXXX is what I receive and the column showing XXXX is what my husband receives and the final column is the difference between our deposits. These numbers should be the same!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 339XX
Submitted Via: Web
Date Sent: 2023-04-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-28
Issue: Problem with a purchase shown on your statement
Subissue: Credit card company isn't resolving a dispute about a purchase on your statement
Consumer Complaint: This is a business card for which I have had disputed charges for either the purchase or disputes made of property damages. This is a corporate card, I have made many calls to Bank of America and now after hours of a phone conversation, they inform me that I can not get a list of the disputed charge and claim numbers of those disputed charges from XXXX XXXX XXXX to present. What Bank of America does if you do if you dispute a charge is they still pay the vendor instead of withholding payment as the consumer card does and after 90 days if the merchant does not respond to the dispute, they just don't charge you. Account number : last 4 digits XXXX I believe BOA is not returning the money to XXXX XXXX, XXXX but creating a deceptive practice of fraud against the consumer I will file a complaint with the Attorney General 's Office since I have the proof of Deceptive Practices.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: DE
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-04-28
Company Response to Consumer: Closed with monetary relief
Timely Response: No
Consumer Disputed: N/A
Date Received: 2023-04-28
Issue: Problem with fraud alerts or security freezes
Subissue:
Consumer Complaint: I was the victim of identity theft. In XXXX of 2022, a Bank of America checking account was opened in my name. I was able to close this account. BofA representatives instructed me to contact XXXX and place a freeze, which I did in XXXX. I also have freezes with all three credit bureaus. Earlier this week, another BofA checking account was opened in my name despite all freezes ( XXXX and all three credit bureaus ) being active. After speaking with XXXX, they informed me BofA ignored their security freeze. When I spoke to BofA about this, they informed me that this had happened before regarding XXXX and they believe the XXXX security freeze is not working properly. They directed me to the FTC and I have made my way here to report my issue with XXXX and/or Bank of America regarding this issue.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NC
Zip: 27455
Submitted Via: Web
Date Sent: 2023-04-28
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-28
Issue: Incorrect information on your report
Subissue: Old information reappears or never goes away
Consumer Complaint: I had a credit card from Bank of America with a XXXX XXXX limit ( account number XXXX ). The last time i used the account was XXXX. In XX/XX/XXXX the account was closed by Bank of America claiming i owed money that i disputed. The derogatory item remained on my credit reports for almost seven years. It then disappeared in or about XXXX. The account remained closed as of XXXX i have never used the account ever again. In early XXXX the same account surfaced again on my credit report in XXXX showing a late payment in XXXX. Obviously i have not used it since XXXX and XXXX was the last time account was used. After disputing it with the credit bureau, I called Bank of America. They confirmed that the item is from XXXX. But refused to remove it without any explanation. It affected my credit score and ability to secure loans.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 902XX
Submitted Via: Web
Date Sent: 2023-04-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-28
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: Bank of America mistakenly stopped the automatic payments that paid off the balance of my credit card every month in XXXX of 2023 without my knowledge or consent. This caused me to be late through no fault of my own. They submitted false reports to the credit bureaus but never told me that my automatic payments had been stopped or that I was late until I got a letter in the mail dated XX/XX/2023. In the meantime, I got routine monthly emails telling me that my statement was available online but they said nothing about my being late or that my automatic payments had stopped or that they had already destroyed my nearly perfect credit score. I sent four letters to Bank of America and started disputes with and sent the attached documentation to all three credit bureaus in XXXX of 2023. Ive done everything possible to make Bank of America correct the record and restore my credit line but they have been completely unresponsive. They refuse to take responsibility for their unwarranted actions that damaged my credit and caused me great harm. When you read the attached letters, youll understand why Im submitting a complaint against them.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30043
Submitted Via: Web
Date Sent: 2023-04-28
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-28
Issue: Fees or interest
Subissue: Charged too much interest
Consumer Complaint: This is a second complaint to the pending response of complaint : XXXX I paid this credit card off in XXXX and failed to cancel an automatic payment of {$100.00} that was paid in XXXX. I called today XX/XX/28 and they said I owed interest after I paid off the card. It is an unfair and deceptive practice to charge a consumer interest after the account was paid off. BofA refused to refund my {$100.00} and said that I owe them interest in the amount of XXXX. I want BofA to refund my {$100.00} payment and any interest owed from the 1st complaint.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AZ
Zip: 85042
Submitted Via: Web
Date Sent: 2023-04-28
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-28
Issue: Other features, terms, or problems
Subissue: Problem with balance transfer
Consumer Complaint: XXXX XXXX, 2023 Bank Of America 's app accidentally, instantaneously, and without ANY warning paid off my Bank of America credit card TWICE OVER by taking an extra {$500.00} ( {$480.00} ) out of my Bank of America checking account when 1 had already paid off the entire {$500.00} credit card balance a week ago. I spent four hours on the phone this morning getting transferred around and being given different phone numbers to call, then calling XXXX was finally told they'd refund my money in a few minutes and gave me a confirmation number XXXX Then the money was never refunded. So that late afternoon I called back, was again kept on the phone for over an hour being transferred around, and was mocked, snubbed, and was told by XXXX the " manager '' that he doubted my story, even though he could see the facts of the overpayment on my credit card and withdrawal from my checking right in front of him. Instead of having a XXXX balance, I have an OVERPAYMENT of about {$500.00} on my credit card. Then they said there's NOTHING they can do about it to refund my checking account today. They say that, although they transferred the money OUT of my checking account instantaneously, that it will take them TEN DAYS to put the money back. My checking account has been completely drained by their mistakes. 1 don't have ten days to pay my other bills due now! And, they say if I were to just go to the ATM and withdraw the extra funds from my credit card, they would actually CHARGE me interest and cash advance fees on it!!! This is criminal behavior. Why can Bank Of America get away with this? Why don't they have to pay ME interest. cash advance or overdraft fees?
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MO
Zip: 63118
Submitted Via: Web
Date Sent: 2023-04-28
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-28
Issue: Opening an account
Subissue: Account opened as a result of fraud
Consumer Complaint: Please be advised that on XX/XX/XXXX I received a Bank of America checking card under my maiden name for an account that isn't mine. I called Bank of America on XX/XX/XXXX and informed the associate that an account was opened under my name. After investigating the associate confirmed that a checking account was opened around XX/XX/XXXX and has online access to the account. The account was flagged for fraud and closed. I then ( XX/XX/XXXX ) informed XXXX, XXXX and XXXX that I have been a victim of identity fraud. On XX/XX/XXXX I received an email alert stating that I couldn't open an account online with Bank of America and that I need to walk into a branch. On XX/XX/XXXX I called bank of America and informed the fraud department that I received an email alert about an account being opened. The associate advised me that someone attempted to open another account via online through the mobile app but it was denied. She also informed me that someone attempted to open an account under my name in XX/XX/XXXX. She then gave me information to this website and XXXX for further help.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 071XX
Submitted Via: Web
Date Sent: 2023-04-28
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-28
Issue: Getting a loan or lease
Subissue: High-pressure sales tactics
Consumer Complaint: On Friday XX/XX/XXXX, My wife and I applied for an auto loan for a new XXXX XXXX XXXX XXXX with Bank of America and other lenders to see where I can get the best rate. XXXX XXXX XXXX for Bank of America. The loan was done via online and then we got the chance to speak to a Loan officer named XXXX XXXX. No relation to me. She explained that we got approved for the loan. I told her that the delivery date for the XXXX was Saturday XX/XX/XXXX, pending inspection of vehicle and taking delivery of vehicle of course. I wanted to lock rate so she sent us the loan documents to sign. I read the terms and conditions and expectation was that the loan would be funded at delivery of vehicle to my wife and I. I also had other pre-approvals so we had options on who we were going to go with. XXXX never expressed or explained that by signing the loan docs that we were agreeing to fund the loan prior to driving the vehicle, inspecting the vehicle or even signing the XXXX XXXX with XXXX to finalize the purchase of the vehicle. In previous experiences once we sign the loan documents we either receive a cashiers check or paperwork to then go to dealer to finalize purchase price, warranties, etc .... Long story short, we had an emergency and could not take delivery of vehicle. I contacted XXXX to reschedule. They mentioned there was no problem and they would just release the vehicle to next buyer and that I would have to wait for next vehicle. I was in no rush. My son 's health was more important to me at that time. Plus from my understanding an approval from bank was good for 30 days. So Monday XX/XX/XXXX I open my Bank of America application to send a XXXX payment and I noticed an auto loan reflecting for the amount of {$50000.00}. I assumed it was a mistake so I contacted Bank of America to let them know that the loan was reflecting on my app. They inform me that the loan was funded. I questioned how? I told them I never received delivery of vehicle. I also never got the chance to go to dealer and finalize the purchase agreement with them etc. They claimed that a signed purchase agreement was not necessary because I signed the loan documents. I was confused because loan documents are one thing and agreement with dealer is another. So basically they funded an unsecured loan since I did not have a vehicle in my possession. They said all they could do was submit to cancel the loan and that my wife and I would need to re-apply again which I found to be disheartening since we already had applied and didn't want to continue to submit inquiries on our credit report. I asked if the loan would appear on our credit report and they said that it would show as an open loan and then a closed loan. In doing so that would affect our credit score even more. I asked them why they would have a process that seemed backwards and why the rush in funding a loan? They said that because its digital that thats how their process is. I said then you should have made it clear not to sign the loan documents until after I take delivery of the vehicle because on the contract all it stated was the terms of the loan and conditions but from my understanding and previous experiences that would take place after delivery of the vehicle not prior. XXXX had set their expectations as well. Anyways, Bank of America then said I had to call XXXX which I did and that they had to return the money. XXXX said the loan should have never been funded and they would email a specific department. Then they said I had to speak to Bank of America to cancel the loan. Got a hold of the XXXX XXXX department on Tuesday XX/XX/XXXX and they said that they will cancel the loan and it will take up to 7 days. I asked why the loan wasn't canceled on the XXXX since that was when I communicated with the loan officer and they said they did not see that she had canceled the loan. Now we are just in a bad predicament and feel like everything was rushed, not sure if it was done to reach end of month quota but the optics of everything feels that way. We have never experienced anything like this before. I have the non singed purchase agreement from XXXX. I have the signed loan docs from Bank of America which to our understanding was to ensure we locked the rate and expressed loan rate, months etc at time of vehicle delivery. I called XXXX on Wednesday XX/XX/XXXX and expressed that I wanted to escalate the situation. I received a call from a supervisor 2 days later which was this morning. No urgency. He gave me same excuses on how their process is. I explained that their process seems to hurt consumers. It does not protect them. For example, rushing to funds a {$50000.00} loan to a dealer, a private party etc without a customer having the vehicle in possession may cause harm and loss of funds to borrower. In no way, shape or form should a loan be funded without a final signed purchase agreement or at least without the delivery of the vehicle. In doing so, you're putting the consumer in a forced situation to take delivery of the vehicle because if they do not then their loan which should not have been funded prematurely will be closed and they will have to re-apply again. This process and experience has caused a lot of anxiety. Has put us in a situation where our credit score may be greatly affected and the ability to continue with the purchase of the vehicle ( which we are waiting on next vehicle ) may be compromised if our credit report reflects a recently opened auto loan or our score drops affecting other pre-approvals that we currently have. This process needs to change. It should be tailored to protect their customers and not put them in difficult financial situation. It should make the purchase of a new vehicle seamless and not confusing and non traditional. We would receive a cashiers check and had purchase power when negotiating with a dealer when we signed loan docs. In this digital age it seems as if they are putting the carriage before the horse. If it is digital then they should give us the ability to inspect vehicle , drive it, accept the delivery of it and finalize everything with dealer. At that point the loan can get funded digitally just like they want. Lets change this process and protect borrowers. Not hurt them.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 32824
Submitted Via: Web
Date Sent: 2023-04-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A