Consumer complaint received 2021-02-05
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Other personal consumer report
Issue: Problem with a company's investigation into an existing issue
Sub-issue: Their investigation did not fix an error on your report

Complaint:
My complaint involves Bank of America reporting a closed savings or checking account ( I believe ) for suspected fraud activity although I have reported to them that this account is not mine and must be the result of ID theft. When I found out about this reporting I alerted XXXX  via online dispute and Bank of America sent a one page internal screenshot of a form with my name typed into it. So XXXX  marked as verified although I am not sure how that verified anything. Subsequently, I called Bank of America and after several hours I finally got to report the account as fraudulent and I was sent a Uniform ID Theft form to be filled out, signed, and returned with a copy of my ID ; which I did. A couple of weeks later I receive a letter from Bank of America saying that no ID theft was detected and this blemish remains on my consumer reports ( i.e. XXXX, XXXX, etc. ) although Bank of America has amended to include SETTLED IN FULL in the Closure Status line. How is this legal, moral, just, or ethical? Bank of America has yet to tell me why this was even suspected of fraudulent activity. All I have received from them is that one page mentioned earlier. Nothing that I signed, no real account info, nor any kind of insight into why they are refusing to remove this against proper procedure and various consumer protection laws. I have been forced to postpone the opening of a law practice and other business ventures due to this incorrect and fraudulent reporting. I can not obtain a proper business bank account and take advantage of business banking offers, etc. Moreover ( and more importantly ), I have no chance at being able to open an XXXX account for my law practice, thus costing me substantially. Not to mention as an attorney and seeking employment, having a suspected fraud negatively reporting on my consumer reports is long dead end road that I did not even know I was on. I have even sent Bank of America a verification page that my info/data was stolen in the XXXX Data Breach of 2017 among other numerous data breaches. This account is not, was not, and will never be mine. I don't know what else to do to get Bank of America to understand this. It seems to be some one of those internally started accounts probably for some promo for sales people or something. I DON'T KNOW! ALL I DO KNOW IS I ( THE PERSON THEY ARE NEGATIVELY REPORTING IT AGAINST ) HAD NOR HAVE NOTHING TO DO WITH IT AND IT'S NOT RIGHT THAT THIS BIG BANK WHO GLADLY RECEIVED OUR BAILOUT FUNDS CAN NOT HAVE PROPER PROCEDURES IN PLACE TO ENSURE THESE THINGS DON'T HAPPEN AND WHEN THEY DO MAKE SURE THEY ARE NIPPED IN THE BUD AND NOT AFFECTING THE LIVES OF EVERYDAY PEOPLE JUST TRYING TO MAKE IT. IT'S DISGRACEFUL, DISGUSTING, SHAMEFUL, AND UNJUST

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 monetary relief