Consumer complaint received 2023-09-19
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NY
Product: Debt collection
Sub-product: Credit card debt
Issue: Written notification about debt
Sub-issue: Didn't receive enough information to verify debt

Complaint:
Complaint Regarding Difficulty Obtaining Settlement Information from Bank Of America credit card department. 

I am writing to express my profound dissatisfaction with the service I have received from Bank of America in relation to my recent settlement through a third-party debt manager concerning my Bank of America credit card account. 

As a holder of both XXXX XXXX and XXXX licenses, I am obligated to report specific financial information to FINRA. One critical requirement is to provide detailed information about my outstanding debts and settlements within 30 days. To fulfill this obligation, I reached out to Bank of America multiple times, seeking assistance in obtaining a letter that would include vital details such as my initial amount owed, the settlement amount, and confirmation that the settlement was paid in full. 

However, my experience in attempting to acquire this seemingly straightforward documentation has been nothing short of a frustrating ordeal. Instead of prompt and accurate assistance, I encountered a series of errors and a lack of competence on the part of Bank of America representatives. 

Firstly, I received incorrect fax letters that contained inaccurate information. To make matters worse, one of these fax letters was sent to the wrong recipient, exacerbating the situation and potentially compromising my financial privacy. 

When I inquired about the limitations of Bank of America 's pre-populated letter templates, the representatives were unable to provide a satisfactory explanation. It was only after speaking with Supervisor XXXX XXXX that I learned that Bank of America 's standard settlement letters can not be modified to include custom information, such as the specific amounts involved. 

Supervisor XXXX XXXX also informed me that the settlement amounts could be found in my last bank statement, which I had never received. Despite the urgency of my request and the critical need to submit this documentation within a 30-day window, XXXX XXXX could only offer to mail the statements to me, a process that would take an additional 10 days. Unfortunately, she was unwilling to expedite the mailing or fax the necessary information, further delaying my ability to fulfill my regulatory obligations. 

I find it deeply concerning that such a simple and crucial request has been met with such inefficiency and a lack of urgency. This situation not only reflects poorly on Bank of America 's customer service but also puts me in a precarious position regarding my professional responsibilities. 

I kindly request that you investigate this matter promptly and take the necessary steps to rectify the situation. Specifically, I require the accurate and complete documentation regarding my credit card settlement to be provided to me without further delay, preferably through expedited means. 

I trust that Bank of America will treat this matter with the seriousness it deserves and take immediate action to resolve it. I look forward to a swift resolution that will allow me to meet my obligations to FINRA without any further impediments.

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