Consumer complaint received 2022-07-07
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
I had a bank account with bank of america years ago. Due to a death in the family and having to move around I ended up over drafting my account I was not able to immediately pay this back. I called multiple times to let them know I would pay it the following year wen I got income tax. I asked questions about my credit ect I was told if I pay the balance I wouldn't be reported to any agency there would be no penalties but the account would be closed. I did not want that as i need a bank account for various reasons in the adult world. I asked if there was a way I could get a settlement on the amount as I was experiencing severe hardship I was advised it wasn't possible When I called to pay the full balance I asked again before paying how paying the balance was beneficial and if the account was closed ect i was reassured paying the debt would resolve any consequences ect I was told i could open another bank with someone else as i was not able to open an account while owing bank of america I paid using all the money I had. When covid hit i tried to get a loan, i tried to open an account with a credit union i tried to get assistance i tried to go into business for myself all failed due to account becoming marked as closed for fraud in XXXX even though it was closed due to over draft and bank of america kept transferring me around for hours my phone log will show i have called bank of America and XXXX XXXX for years and spent hours and called daily trying to get it corrected to account abuse. I specifically asked in my dispute for proof in writing I did not receive that and XXXX XXXX would not remove it and bank of america would not remove it and an employee even told me it should be removed and risk told me it needs to be updated or at least removed after reviewing but nobody has done anything. I read the fcra and it states that inaccurate information must be removed and it is inaccurate but they will not remove or even update it and it is causing a delay in my financial life as well as costing me to lose XXXX  OF DOLLARS in business credits for a business i pay for yearly but cant get funding for due to this error. They also reported me to XXXX XXXX for fraud account but this was not a fraud account and they keep saying there is nothing they can do about it. I have requested them to send me a explanation in writing how this is accurate and they declined. They even declined through XXXX XXXX stating it will not be changed. They took the payment for a long standing account that was over drown once and closed it as fraud and reported me to be XXXX and prejudice against upcoming XXXX trying to do right. If they just didnt want my business anymore thats fine but to report lies to stop me from moving on with my life is unethical and im finding alot of issues and class action suits about bank of america these days it cant be a coincidence. Please help be get this removed as I would hate to waste any more years my family and i are suffering over their lies.

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