Consumer complaint received 2022-03-18
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TX
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Billing problem

Complaint:
Obtained a loan for XXXX XXXX on XX/XX/XXXX. Per the Retail Installment Contract and Security Agreement signed, " You may prepay this Contract in full or part at any time. Any partial prepayment will not excuse any later scheduled payments until you pay in full. '' I have made numerous extra payments and very large payments but before I started doing this, I had called Bank of America 's ( BOA ) customer service number at XXXX to verify that any excess payments would be applied to my principal balance since there was no option to designate this either within their online banking tool or by phone payment ; I was told excess would automatically be applied to principal. I have recently learned that this has not been the case - that instead, they have been extending the due date of my next payment which is now extended over a year out. Since discovering this, I have made 6 phone calls to BOA in an attempt get this resolved. I have also visited their branch office in XXXX, Texas in an attempt to speak to someone. My last attempt to visit in person was on the morning of XX/XX/XXXX. As I have experienced in the past, there was no sign-in sheet available and when I approached a banker to attempt to get on a list, she told me they did not use a list and also that she had no time that day, nor could she book an appointment for me and that I could call to make an appointment, but I have attempted that in the past with no luck. My most recent call to XXXX was placed on XX/XX/XXXX at XXXX and was answered by XXXX who reports that she was in the CVO department. During the XXXX minute call, she repeatedly put me on hold with no explanation and would not answer questions. She eventually placed me back at the very beginning of the call que although she had previously stated that she was going to directly transfer me to the correct department who could correctly apply my previous payments and that she would stay on the line and explain my concern. She asked me if I wanted the bank phone number and when I told her I didn't understand what bank she was referring to because I had already tried to visit the bank in person, she just put my call back in the que. She also told me she could mail me the transaction activity report from conception of my loan to today 's date, but later told me she was finding out if she could that. I had already had a previous Bank of America employee tell me during the week of XX/XX/XXXX that I was being mailed a transaction list and would receive it in 3-5 business days but did not receive anything. That previous agent also told me that she was connecting me directly to the department that would correct the previous payments and that, in the case I was disconnected, she had already placed a request for them to contact me. I was not directly connected, I was simply placed back in the original call que where I tried unsuccessfully for 12 minutes to get connected to a live person ; there was also no follow-up contact from Bank of America as promised.

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