Consumer complaint received 2020-10-28
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TX
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Confusing or missing disclosures

Complaint:
Bank of America did not state my rights about why I am being held liable for a {$1000.00} scam. All bank of america told me is that they deny my claim because they found " no bank error ''. In which I never told them there was a bank error so I am confused as to why they and how they conducted their research into this case by looking for " bank errors ''. They never called me or emailed me in order to get further information about what happened during my scam encounter nor did they follow up on what happened. They advised that " I send money to family and friends '' which is ridiculous because I should be able to trust my bank to protect me from scams and fraud that are not my own cause. 
I was contacted by an individual by the name of XXXX XXXX  via phone about the purchase of a vehicle. He sent me photos of the car and stated I would need to send a total of {$1000.00} for a deposit of the vehicle and then pay an additional {$1000.00} to complete the purchase of the car. I sent him a total {$840.00} on XX/XX/2020 via XXXX from my bank at Bank of America. I then sent the {$200.00} remainder of the deposit on XX/XX/2020 via XXXX again. XXXX stated he would hand over the car on XX/XX/2020. In which, he never showed up and never brought the vehicle that I had already paid the deposit for. He also stopped all further contact with me and blocked my phone number. I then realized I was scammed out of my money and of the potential car. To my surprise after researching XXXX, I found previous records that he is a XXXX  and huge fraudster/scammer. He is in XXXX with 23 other individuals that sell stolen vehicles and scam individuals by never actually give them the cars such as myself. He has been to jail multiple times across the country for theft and related charges. I called Bank of America on XX/XX/2020 and let them know my entire situation and that I wanted to file a dispute of the transaction since I was a victim of the car scam in order to receive my {$1000.00} back. The representative at Bank Of America told me they would conduct an investigation, reach out to the bank XXXX has, and ask them to send the money back. After 20-30 days I called Bank of America back and they told me they denied my claim and I can not appeal any XXXX transactions that have already been denied. I was completely shocked and was told my next only option would be to file a complaint with XXXX  and there there is no other help Bank of America can offer me to retrieve my money that I was scammed. I contacted the XXXX County police and filed a police report for theft or services against XXXX  as well as a ticket on XXXX The police are still looking for XXXX to arrest him but advised that I communicate with the bank on how I can retrieve the stolen funds. I was finally referred to submit this complaint on here to the CFPB as of today on XX/XX/2020.

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