Date Received: 2023-04-13
Issue: Opening an account
Subissue: Confusing or missing disclosures
Consumer Complaint: I had a bank account for many years, I had both a checking account and savings account and had a secured credit card XXXX dollars, I recently had a incident where I became ill and nearly died, so I had to stop working for awhile, I was still receiving my social security income, XXXX monthly, I had applied for an online loan, I was scamed by someone pretending to be an online payday loan company, they convinced me to provide then with my user id and password, they deposited the payday loan check, after I received the deposit, the next day, I informed my son about the situation, he advised me to alert my bank, that my baby account was compromised, and I informed bank of America customer service, my account was compromised, and it was possible that a fraudulent check was posted to my account and I would make sure that the XXXX dollar funds would be paid back back to which it was, I had my bank account for many years and this bank has since closed my account and is reporting negative information on XXXX XXXX, making it impossible for me to open another checking account with any bank in the United States, they have failed to provide me protection against a scammer, once I realized my account was compromised I notified my bank immediately, and paid all money owed including any fees, yet this tyrant bank has since refused to reopen my account, they claimed that they closed my accounts for my protection, yet they are reporting negative information so its impossible to open another checking account with any bank.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33444
Submitted Via: Web
Date Sent: 2023-04-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-12
Issue: Problem when making payments
Subissue: Problem during payment process
Consumer Complaint: Not the first problem with Bank of America. Their business model is to take money from consumers to which they are not entitled, and then refuse to give it back on a timely basis. While the amount in question is not that large, if they repeat this process with thousands and thousands of consumers, it gives the bank funds that they can invest and earn money at the expense of innocent consumers. If I did that, I would be arrested and charged with a crime, but Bank of America feels they are above the law. On XX/XX/XXXX, I made a {$3500.00} payment to my account ending in XXXX. At that time, the balance was {$3600.00}, with the account in good standing. That same day, I made a payment of {$170.00}, paying the account to XXXX. The next day, my account was debited for {$120.00} which was presumably the amount due under the autodebit which was set up to pay the minimum payment, resulting in a credit balance of {$120.00}. OK, I guess that could happen, maybe the debits/credits " crossed in the mail '' so to speak. But my issue is, Bank of America REFUSES to give me my {$120.00} back, on a timely basis. My suggestion was, apply the {$120.00} to a {$360.00} balance I have in another account, and they I asked to initiate a payment of {$240.00} so both accounts would - today - be at a XXXX balance. Bank of America said, OK, but it would take 1 or 2 billing cycles to do. I understand why this is, again, BofA 's business model it to take funds they are not entitiled to, invest them, and give them back at a future time, making money off the backs of innocent consumers. Nice scam, maybe BofA can give seminars on how to scam money.
Company Response:
State: IL
Zip: 605XX
Submitted Via: Web
Date Sent: 2023-04-12
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-12
Issue: Opening an account
Subissue: Unable to open an account
Consumer Complaint: During XXXX of XXXX and despite my account information being on the wire advice Bank of America misdirected a wire transfer payment from XXXX in XXXX to me/my XXXX XXXX XXXX, XXXXXXXX XXXX XXXXXXXX XXXX XXXX EIN : XXXX ) to an unrelated entity, XXXX XXXX XXXX I was able to correct the banks mistake by getting a check from the unrelated entity so there was never any correction at the bank. Subsequently, Bank of America forcibly closed my personal and business accounts in XXXX despite my XXXX years of business with the bank including a satisfied mortgage obligation. Then in XX/XX/XXXX, I was unable to open a personal depository account at the bank and the business account that I was able to open was forcibly closed by BofA on the very next day. More recently in XX/XX/XXXX, I was denied opening any accounts at Bank of America without explanation. Based o the earlier wire transfer mistake and the banks not accepting any new account for me, and my significant past business with XXXX, XXXX, XXXX XXXX XXXX XXXX, XXXX and XXXX, XXXX of whom pay by wire transfer, I believe that several past wire transfer payments intended for me or my business were credited elsewhere that Bank of America now does not want to repay.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30305
Submitted Via: Web
Date Sent: 2023-04-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-12
Issue: Closing an account
Subissue: Company closed your account
Consumer Complaint: I previously maintained an Advantage Plus Banking checking account and an Advantage Savings account with Bank of America, the accounts were opened on XX/XX/2022. On XX/XX/2022, I was trying to request a transfer of funds ( {$10000.00} USD ) from my XXXX XXXX XXXX XXXX US account to the Bank of America account. I am the owner of my XXXX XXXX XXXX XXXX XXXX account, and I had sufficient funds to be transferred when I requested. In addition, I have also successfully linked my XXXX Bank XXXX XXXX US account to the Bank of America account prior to the transfer. However, Bank of America insisted that the above-referenced deposit from XXXX Bank was unauthorized and belonged to a third party, Bank of America claimed it was fraudulent activity and closed my accounts. I have already provided evidences including a letter of proof from XXXX, which confirmed my account ownership and my good standing with the XXXX XXXX XXXX XXXX XXXX bank, along with my XXXX Bank XXXX XXXX US account bank statement with the fund transfer history.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 07093
Submitted Via: Web
Date Sent: 2023-04-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-12
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: To Whom It May Concern : I am writing to adamantly dispute the charged-off account and inaccurate reporting associated with the above-referenced account number XXXX, as reported by Bank of America. Upon reviewing my credit report, I discovered that the account was registered as charged-off, which needs to be corrected. It should be noted that the account in question was included in a XXXX XXXX bankruptcy filing ; however, the focus of this dispute is not related to the bankruptcy itself. The specific inaccuracies in the reporting, which I assert are not in compliance with the XXXX XXXX Reporting Standards, include the following timeline of events : XXXX. XX/XX/XXXX : Listed as 30 days late. XXXX. XX/XX/XXXX : Listed as ND ( non-derogatory ). XXXX. XXXX continues from 60 days late to 180 days late. XXXX. XX/XX/XXXX- XX/XX/XXXX : Listed as CO ( charged-off ). XXXX. XX/XX/XXXX : Listed as ND ( non-derogatory ). XXXX. XXXX continues as CO ( charged-off ) from XX/XX/XXXX until XX/XX/XXXX. I vehemently dispute the accuracy of the charged-off account and assert that the reporting is fundamentally flawed. By taking a write-off for the previous debt, Bank of America effectively exploits public tax dollars to assist with the write-off. This action constitutes a form of public assistance. Moreover, my requirement to file the discharged debt as income on my tax return falls under the income statute, which should exempt this debt from being reported on my credit report. I also demand your attention to the fact that the account has been reported as late and charged off, which blatantly violates the XXXX XXXX standard of reporting compliance. The account has been reported as CO ( charged-off ) and ND ( non-derogatory ), flagrantly disregarding the XXXX XXXX XXXX. In addition, I have yet to receive Form 1099-C ( Cancellation of Debt ) from Bank of America XXXX which contravenes the Internal Revenue Service ( IRS ) regulations under section 6050P of the Internal Revenue Code. Regardless, I have dutifully filed the discharged debt as income on my tax return, as mandated by the IRS. Bank of America 's failure to provide the 1099-C constitutes a breach of the IRS tax code, and it has come to my attention that you have taken a write-off for the debt in question. It is crucial to emphasize that income is not required to be reported on a consumer report under the Fair Credit Reporting Act ( FCRA ). Section 605 ( a ) ( 4 ) of the FCRA explicitly states that consumer reporting agencies may not include any information in a consumer report that pertains to " receipt of public assistance benefits. '' I assert that the income reported on my tax return, which encompasses the discharged debt, qualifies as public assistance benefits and is therefore exempt from reporting on my consumer report. I demand that you provide documentation supporting the validity and accuracy of the reported information, including any signed agreements that establish the debt and any other pertinent information. I insist that you investigate this matter and verify the following : 1. The accurate reporting of the charged-off account on my credit report, considering that I have filed the discharged debt as income on my tax return despite not receiving a 1099-C from Bank of America. 2. The validity of the reporting of the charged-off account. Should the investigation reveal inaccuracies in reporting the charged-off account, I expect you to remove the account promptly. I request that you provide me with the 1099-C you neglected to issue, as required by the IRS regulations XXXX I demand that you respond to this dispute within 30 days, as mandated by the Fair Credit Reporting Act ( FCRA ). Failure to comply may result in further actions, including filing a complaint with the Consumer Financial Protection Bureau ( CFPB ) and seeking legal counsel. I await your prompt attention to this matter.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: 60148
Submitted Via: Web
Date Sent: 2023-04-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-12
Issue: Closing your account
Subissue: Company closed your account
Consumer Complaint: I attempted to submit a complaint on this subject on XX/XX/XXXX but for whatever reason it was not received. I received a invitation for a reapproved XXXX XXXX XXXX XXXX credit card through Bank of America early this year. I applied and was approved with a XXXX FICO score and over a decade of credit through their bank with no missed payments or delinquencies. Just after a month of opening the account, for whatever reason Bank of America closed my account without any contact. I had had one other account with them for an XXXX XXXX XXXX and when I opened the account they pulled some of the credit from that {$7600.00} line to open the XXXX XXXX XXXX account. After speaking to the representative I had expressed that I wished to consolidate my credit and the rewards were more appealing to earn miles through XXXX XXXX and XXXX mileage program and I was curious about closing out the XXXX account. The representative I spoke with advised me that It would be more beneficial to ask to transfer my remaining credit from the XXXX account over to the new account instead of closing the account and that a credit line transfer wouldn't have a negative impact on my credit. After the credit line was transferred my XXXX XXXX card was closed without warning with no missed payments or balance owed and I was within {$100.00} or earning 50,000 sky miles by spending {$2000.00} dollars within 90 days of opening the account. When I asked about the account closure they were not able to really provide any specific information on the reason. I then received a letter saying it was due to irregular purchases and based on the credit score of XXXX which is the credit score they were provided when I applied for the account and was opened. I owed no balance and have had an outstanding line of credit since XXXX or XXXX with no missed payments through Bank of America. There is virtually no way I would ever miss a payment and was excited to earn rewards through their program. The only thing through my credit history that would result in flags would be during the year of XXXX my identity was stolen as well as my wallet and passport and as well as some of my digital wallets were compromised which resulted in some fraudulent activity. In addition to that I took a contracting job for a individual or entity from XXXX XXXX XXXX whom wanted me to contract out some work at a property located in central Maine. I opened a checking account through Bank of America while I was there because of issues I had with a past account due to my identity being compromised as well as my bank from Montana didn't have any branches out there. The individual tried to issue me payments with cashiers checks one of which was actually a Bank of America check for $ XXXX I attempted to cash on my birthday weekend XX/XX/XXXX or XXXX on XXXX at a branch in XXXX XXXX The teller accepted the check as well as some cash the was deposited and assuming that it since the check was issued from a Bank of America account that you would be able to verify and issue the funds immediately. Several days later I was notified that the owner of the account whom issued the check either closed the account or there was some issue at which point my Bank of America checking account was closed and the cash funds I had remaining were not returned to me. I had been very adamant about before taking this job that it was my priority and very important to me that I attended my cousins wedding that fall and see my family who I had not seen in over a decade. The individual gave me another cashiers check which I also attempted to cash through a XXXX XXXX which wound up also being a fake account. This guy then stole all my belongings and wallet passport over {$20000.00} of my personal property, tools, my dogs food, collar, bed and clothing. Which resulted in a bunch of unauthorized expenditures through my credit lines that fall and winter. I since have secured my accounts and have had very few mishaps since. during my travels in Europe somehow my card information was copied or taken and there was a few charges I have had to dispute. Essentially from those few hiccups there have been no problems with my credit history and when I applied for the account my credit score was the same as what they used in their decision for closing it. Since the closure my credit score has taken a unnecessary hit due to account closures as well as the initial credit line transfer which I was told wouldn't have a negative affect. I think its a little unfair that they close the account as well as take away my opportunity to earn the introductory rewards milage when I make my payments on time. Also When the report said irregular spending that doesn't really make any sense I used credit as needed and I make payments on time so I don't see the issue.
Company Response:
State: MT
Zip: 597XX
Submitted Via: Web
Date Sent: 2023-04-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-12
Issue: Opening an account
Subissue: Unable to open an account
Consumer Complaint: XX/XX/2020 Bank of America froze my checking account due to alledged " fraudulent activity ; subsequently seized {$7000.00} from my account with a partial from " unemployment pandemic funds " According to Bank of America I've been under investigation for 3 years and they never gave me a reference number to follow up with this issue.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 48238
Submitted Via: Web
Date Sent: 2023-04-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-13
Issue: Closing an account
Subissue: Funds not received from closed account
Consumer Complaint: Bank account randomly closed without notice, have deposits going in and cant access money. Tried calling both sides neither can help me. They said the account can still receive funds and the senders said they cant reverse deposits. Bank is no help, frustrating and cant access my money to pay my bills or put gas in my car.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 77345
Submitted Via: Web
Date Sent: 2023-04-13
Company Response to Consumer: Closed with explanation
Timely Response: No
Consumer Disputed: N/A
Date Received: 2023-04-13
Issue: Managing an account
Subissue: Banking errors
Consumer Complaint: Bank of America closed my account and restricted my access after I made a deposit I never got the funds but it was credited to my account but I definitely have received got a refund check or anything so where is my funds also miscellaneous fee was charged to my account struggling to get a bank account after this happened for some time now
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 48035
Submitted Via: Web
Date Sent: 2023-04-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-13
Issue: Fraud or scam
Subissue:
Consumer Complaint: I was selling an item on XXXX XXXX when an individual told me they were keen on purchasing my item and would collect later that day, as they were busy they were keen to make the payment so their 'husband ' could collect later that day and so I didn't sell to someone else. The individual asked for my email address so they could XXXX me the funds. I agreed- but did not feel comfortable as despite having XXXX associated with my XXXX XXXX XXXX XXXX XXXX XXXX, I had only used this service once as a test and was not overly familiar with how it is used. It also took several business days for the funds to show on our accounts. BoA had also provided little to no advice on how to use XXXX when I joined them as a customer in 2022. After various back and forths the individual had notified me that they had received a bounce back email, and that I also should have, from XXXX that highlights that a sale transaction could not be completed as this required a business account. I did in fact receive an email that appeared to be XXXX and even had similar domain name. The email stated that first business account transactions required a minimum amount, which indicated that the buyer would have to overpay and me refund them the distance. Unfortunately and stupidly I did do this - thinking I was refunding them the amount. When making the transaction I did not receive a warning from XXXX. I immediately sensed something was wrong and rang Bank of America straight away and asked if the payment could be reversed as it was still 'processing ' in my account. Unfortunately they told me they could not do so. They notified me via email 9 days later that my claim was unsuccessful and they would try out of 'courtesy ' to locate my funds to the recipient bank - and that I would hear back within 60 working days. I relocated to the XXXX from the XXXX in 2022 and so am used to instant bank transfers that show as soon as a transaction has taken place. I am not used to bank transactions taking several days to process, unfortunately this was a factor that made me give the scammer the benefit of the doubt that they had sent the money. I feel Bank of America has really let down consumers protection with regards to the XXXX within the BoA app with very little education material on how this process works. I am bitterly disappointed that despite the transaction taking days to process - for some reason this can not be reversed?! When conducting their investigation Bank of America never asked for any evidence at all to aid their decision and this was all conducted orally- which leads me to think how can the bank be judging this in a professional unbiased manner? I also was fooled by the authenticity of the email I received and so with this fear greatly for the security of banking in the future with undoubtedly more sophisticated scams taking place in the future through mimicking someone/AI. Any help would be greatly appreciated! I certainly will look to stop banking with Bank of America if they can not resolve this.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 946XX
Submitted Via: Web
Date Sent: 2023-04-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A