Consumer complaint received 2023-12-01
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Problem using a debit or ATM card

Complaint:
My Bank of America EDD debit card was stolen during the pandemic I filed fraud claims to get these matters resolved in the beginning the claim was filed and I was instructed that the claim would be resolved within 45 calendar days after the 45 calendar days on all of my claims they went into what the bank calls XXXX status according to Bank of America representatives this means that the claim can take as long as they want when I speak to them they instruct me that they can take as long as they want because of this. When I have pointed out that according to their own terms and conditions on their website for claims that are filed they have 45 calendar days and that they abide by the laws set by regulation e. In this situation my claims have been open for over 2 years and when I call in the representatives refuse to assist me stating that I must wait for a response from their claims representatives who are handling the claims when I point out that they have taken over this time frame that is allowed based on their own terms and conditions and based on regulation e they simply tell me I must wait I have waited and waited and they refused to do anything I've had well over {$8000.00} stolen for me and I have reported within the time frame that is expected and posted on their website that the individual must report their claims in a timely matter I've done everything that I have supposed to. Another issue with these claims that Bank of America has done when these claims where we can be filed with the documentation supporting my claim they allow the claim to hit 45 calendar days and then refuse to resolve them either by making up false narratives about what took place on the claim in the first place for example : One of my claims that has taken more than the time frame allotted by regulation e and their own terms and conditions was purposely by Bank of America closed and then reopened as a reconsideration claim then that claim was denied and then reopened again Bank of America does this so they do not have to provide provisional credits as reopened claims that are considered reconsideration claims do not meet the terms for provisional credit Bank of America purposely closes the claim and reopens it as a reconsideration so they do not have to pay out the money for a personal credit then Bank of America allows the claims to reach past the time frame that is allotted for them to resolve and then they state that the claim is in XXXX status which allows them to take longer than the 45 calendar days or the time frame that is put in place by regulation e in my situation the claims have taken over two years this is in violation of both the bank 's policies and regulation e I am looking for the resolution of my money being returned and Bank of America following its own terms and conditions and stop committing the acts which I consider fraud and misconduct when handling claims. As of today I have not been able to get my claims resolved and Bank of America refuses to do anything to assist me I would like this to be published so everyone knows what Bank of America is attempting and so that Bank of America is held accountable

Company response to consumer: In progress