Product: Prepaid card

Consumer Financial Protection Bureau ( CFPB ) XXXX XXXX XXXX XXXXXXXX XXXX XXXXXXXX Subject : Formal Complaint Against Bank of America Uncompensated Time and Consumer Mistreatment To Whom It May Concern, I am filing a formal complaint against Bank of America for their failure to acknowledge and compensate for the significant time and financial loss I have suffered due to their mismanagement of my EDD Bank of America debit card. Over the past four years, I have spent approximately XXXX hoursboth on the phone and in person at bank branchestrying to resolve issues that were caused by the banks own errors. 

As someone who earns {$35.00} per hour, this time translates to {$38000.00} in lost wages and opportunities. Time that should have been spent working to support my family or being present for my children was instead wasted fixing problems that Bank of America created. This was not a matter of choiceI was forced into this situation due to the banks negligence and lack of accountability. 

Despite this, Bank of America has explicitly stated that they do not compensate customers for lost time. This response is both dismissive and unacceptable. Compensation is meant to make up for losses, and in this case, the loss is not only financial but also personal. No financial institution should be allowed to devalue its customers ' time and refuse to take responsibility for the burdens they impose. 

Additionally, Bank of Americas response to my previous complaints has been inadequate. Simply sending copies of my claimswithout addressing the real issueonly serves to highlight their unwillingness to take responsibility. If they were wrong every time and had to return my money, then the hours I spent correcting their mistakes were necessary solely because of their failures.

Requested Resolution I respectfully request that the CFPB take the following actions to ensure a fair resolution : 1. Financial Compensation for My Lost Time : I request a settlement of {$38000.00} to cover my lost time based on my hourly wage. 

If a full settlement is not possible, I request a reasonable partial reimbursement of at least 50 % ( {$19000.00} ) to acknowledge the hardship caused. 

Alternatively, I ask that Bank of America compensate me through account credits, waived fees, or another financial remedy.

2. Policy Changes & Consumer Protections : Bank of America should implement a clear policy for compensating consumers who suffer financial or personal loss due to bank errors.

EDD cardholders should have a more efficient and consumer-friendly dispute resolution process to prevent excessive delays and unnecessary burdens.

3. CFPB Investigation & Accountability : I urge the CFPB to investigate Bank of America 's handling of EDD disputes to determine if consumer protection laws were violated. 

If violations are found, I request that appropriate fines or penalties be imposed to prevent future mistreatment of consumers. 




Consumers deserve to be treated fairly, and no institution should be allowed to disregard the value of the people they serve. I appreciate the CFPBs time and consideration in reviewing this matter, and I look forward to a response and resolution. 

Sincerely, XXXX XXXX