Consumer complaint received 2021-05-01
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TX
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Fees charged for closing account

Complaint:
I was approved for a loan with XXXX XXXX XXXX On XX/XX/2021, They deposited the funds in my account between XXXX and XXXX on that day. The amount was for {$1500.00}. I immediately disbursed the funds to cover the payments I needed to pay. Shortly after that, the woman from the loan place called and asked me to go purchase a prepaid debit card, the loan amount I asked for was XXXX n they gave me XXXX, so she wanted me to get 2 cards equal to XXXX. I told her thats not how loans work and after hanging up with her, that was a red flag. I called my bank and closed my account and notified them it was due to suspecting fraud activity. They then proceeded to finish closing my account and I opened a new account with them. A couple of days later I saw something in my messages about about some disputed transactions and needing more information. So I called the bank to ask and the XXXX looked at the closed account and stated oh yes there was a credit issued and transferred {$86.00} to my new account, which had nothing to do with the disputed transactions. So I asked is that the only credits issued to my account cause I can't view my account anymore cause it is closed. He had to reopen the account to issue the credit to my new account. Then immediately closed it afterwards and the balance was XXXX at that point. A few days later I received my last statement and 3 letters from the bank. I revised my statement and noticed the loan wasn't on the account statement. And the 3 letters they sent were for credits that were given to the closed account, because of fraud, from disputed transactions in the amounts of XXXX, XXXX and XXXX. I called the bank right after and asked about the credits, because they weren't showing anywhere on my account before and why were these credits given if I closed that account for fraud and without actually speaking with me directly. When XXXX credited my account for XXXX dollars he said that was the only credit to my account at that time. Previously when I did have a disputed transaction for {$35.00} it took up to 10 days for that credit to be given and with proper proof n paperwork. I never initiated these disputes and the transactions are valid payments. The agent, a gentlemen, then proceeded to ask why I wouldn't notice a credit in that amount to my account, I tried explaining that immediately after I suspected fraud that account was closed so I wouldnt be able to see anything added to my account after that day the XXXX of XXXX when I closed it and there was a deposit from what i thought was a loan company issued that is no longer visible for some reason. Which he is trying to claim was credits issued by them at the time, which is not true. Never im my XXXX XXXX has a bank issued a credit in that large of an amount and 3 different ones without proper verification and approval first. So he withdrew the credits issued and charged them to my new account, which my paycheck was deposited in the next day for almost XXXX dollars. Which took my entire check from me, leaving my account still overdrafted XXXX. I filed a report with the police dept, XXXX, and have a report number, which I also gave them. They considered it theft and will be helping me with this investigation. However, this still leaves the issue of these charges to my account which the bank states they cover any fraud transactions completely not leaving the customer to pay. I live paycheck to paycheck with children at home, and they didn't seem to care even though I took the necessary steps to make sure that nothing else would occur by closing the account immediately and reporting the fraud to the bank within an hour tops so that they were also aware and would stop any activities that were suspicious before things got out of hand. I hope you see what Im trying to explain and take into consideration the steps I made to prevent this from happening. I would like for those credits to be removed completely I dont think I should be charged for them at all. I have screenshots of my conversations with the loan place and phone numbers and the police report as well to present to you as well.

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