Consumer complaint received 2023-02-25
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: WA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Investigation took more than 30 days

Complaint:
To whom it concerns, I am writing because I am now facing a serious issue with my creditor XXXX Bank of America ) not due to my fault but theirs, and I am hoping you can provide help. 
In XXXX, I opened a bank account with Bank of America. Based on my credit score and credit history they offered me a credit card which I have always maintained a good payment history on my credit debts. 
On XX/XX/XXXX, I decided to close my checking account and credit card with Bank of America. I talked to one of the bank representatives over the phone and requested to make the full payment of the amount owed on the card which was {$260.00} so that I could close the account. The person whom I had spoken with over the phone confirmed the full payment and the closure of my account and credit card account. 

Two months later on my credit report, I had noticed that my most recent credit report contains a delinquent late payment reported in XX/XX/XXXX. It showed that it was the very same Bank of America Visa credit card that I had paid the full amount off and closed at the end of XX/XX/XXXX. After looking into this matter further, it became evident that the bank representative closed the account incorrectly causing the account to be reported as delinquent. Due to this and without any notification or communication with me, the account was sent to the collection department. 

On XX/XX/XXXX, I contacted Bank of America via telephone to explain the situation. The representative confirmed what I had thought, that the account was in fact closed incorrectly. After this it was reopened to close it correctly and they told me that they will start an investigation to fix the error. 

On XX/XX/XXXX, I called the bank and after transferring me to multiple departments I was told that I would receive a letter in the mail that explains the error. Until now I still havent received any correspondence related to the matter. 


On XX/XX/XXXX, I contacted Bank of America via telephone to explain the issue I was facing. The representative I spoke to confirmed my suspicion that my account had been closed incorrectly, causing a delinquent late payment to appear on my credit report. They reopened the account to close it correctly and initiated an investigation to resolve the error. 

However, on XX/XX/XXXX, I received a letter from Bank of America stating that my credit card account was still open and the delinquency had not been mentioned. Frustrated with the lack of progress and communication from the bank, I made several attempts to contact them to complain about the situation, but was left on hold for many hours. 
Finally, after complaining to the CFPD, an enterprise specialist named XXXX XXXX was assigned to investigate the error. Unfortunately, throughout the entire investigation period, XXXX XXXX neglected my calls and emails, and the response was delayed until the last hour of the CFPB deadline. This delay has had a negative impact on me and the struggle I am facing due to the bank 's error. 

To make matters worse, the investigation report denied that my account had been force closed and even denied the existence of my business account. Then, on XX/XX/XXXX, I received another letter from Bank of America stating that my credit card had been closed upon my request and had been reported as delinquent. This is a contradiction to the previous correspondence that stated the account was still open. 


As a result of this error caused by Bank of America, XXXX decided to close my credit cards. 

Additionally, I am planning to apply for a mortgage soon, but the delinquency that is now on my credit report from this same error will hurt my ability to qualify. 
I want you to know that I understand my financial obligations, and the fact that the bank representative admitted that my account was closed wrong on their end means that Bank of America needs to acknowledge their error that is causing negative effects on both my credit and life in addition to the stress this is causing me. 

At the moment, I have no intention to escalate this and I am simply seeking both an apology and for them to make this situation right including having the delinquency due to their error removed from my credit report. If they can not do the right thing and fix this, then I will be forced to take legal action. 

Thank you for understanding and I await your response. 

XXXX XXXX

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