Consumer complaint received 2023-08-08
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Their investigation did not fix an error on your report

Complaint:
To Whom It May Concern, I am writing to address a concerning issue regarding the closure of my Bank of America checking account on XX/XX/XXXX due to suspected fraud activity. As a college student, I held multiple checking accounts and initially dismissed this closure, unaware of the potential implications. Having recently relocated to Florida, I had yet to realize the prevalence of fraudulent activities in the area. 

The situation escalated when my credit application was denied despite having a credit score of XXXX. The grounds for denial were linked to the recent closure of my checking and/or savings account by a bank. In response, I promptly reached out to Bank of America to rectify the situation. I conveyed my lack of knowledge about the account closure and sought guidance on how to resolve the matter. The bank representative assured me that no closure was recorded on their end at the time and advised me to dispute the claim through XXXX. 

Following the representative 's guidance, I initiated a dispute with XXXX. After a month, XXXX informed me that they had contacted Bank of America and were only able to remove the derogatory mark from my report with the bank 's approval. My attempts to communicate with Bank of America yielded little progress, as no one could provide me with information about owed amounts or a pathway forward. 

In pursuit of a resolution, I visited my local Bank of America branch on XX/XX/XXXX, hoping for more effective in-person assistance. However, it became evident that even within the branch, communication with the corporate offices remained necessary. Despite conversations with customer service representatives, I was informed that the issue would persist on my XXXX record for 5-7 years, an outcome I find unjust as I had not committed the action leading to the account closure. I persisted in my plea for fairness, yet left the branch that day without a satisfactory resolution. 

Undeterred, I returned to the branch on XX/XX/XXXX in an effort to secure written documentation from Bank of America outlining the outstanding amount. On this occasion, I encountered the same branch staff member who, upon contacting the Recovery department, was informed that my account had not been closed by them. No derogatory reporting was visible on my file, prompting a suggestion to contact the RISK department. Upon review of my XXXX report, it was noted that the contact number led to Bank of America 's RISK department. 

Contacting the RISK department, the representative could not locate any information pertaining to my case, advising me to consult the Recovery department. However, this recommendation was met with resistance, as the worker sought to escalate the matter to a supervisor in the RISK department. The supervisor deemed it premature to take action and conveyed that a resolution could not be achieved for the next 5-7 years. 

I find this outcome profoundly inequitable, as the circumstances leading to the account closure were beyond my control. I reported the fraudulent activity to Bank of America and continue to face unwarranted consequences. As a young individual committed to responsible credit management and personal growth, I implore you to reconsider this decision, allowing me the opportunity to move forward positively, just as I had been doing before this incident. 

Sincerely, XXXX XXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation