Consumer complaint received 2021-02-15
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: OR
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Other personal consumer report
Issue: Incorrect information on your report
Sub-issue: Public record information inaccurate

Complaint:
We are the Bank of America ( BOA ) platinum honor member with the monthly average balance greater than $ XXXX ( please see the attachment 1 ). We had a good relationship with BOA for more than ten years. 
On XX/XX/2020, Bank of America sent us a promotion letter ( please see the attachment 2 ) that we would receive {$750.00} when opening a new business checking account with $ XXXX new money deposition. We followed the instruction as shown on the promotion letter, opened a new business checking account and deposited a check of $ XXXX from my wife 's XXXX checking account on XX/XX/XXXX. To ensure the XXXX check could be cleared smoothly, my wife contacted XXXX for a pre-check notice/authorization ( please see the attachment 4 ). 
Unfortunately, the XXXX check deposition did not go well and the check got returned. BOA informed me that the check was from a frozen account, which is incorrect. My wife has been using the XXXX account for years and both checking and saving accounts are active ( please see the attachment 5 ). My wife contacted XXXX and was told that the check writing capability of this account was not activated yet ( please see the attachment 4 ). After XXXX enabled the check writing capability, I immediately deposited a check of $ XXXX from XXXX to my BOA business account. The check was cleared with no issue. 
Surprisingly, two weeks later, I received a letter from BOA closing both my personal and business checking accounts ( see the attachment 3 ) and returned me a cashier check of $ XXXX. I called BOA and explained the whole situation to the risk assessment department FIVE TIMES, and got the same answer that we understand your situation and apologize for any inconvenience, but this decision can not be changed. I am even shocked when I was informed that BOA reported this event as suspected fraud to XXXX XXXX  and XXXX XXXX XXXX ( see the attachment 6 ) and the status indicated as Settled In Full which was completely wrong. 
We filed disputes with XXXX XXXX and XXXX XXXX XXXX and requested to remove the wrong report from BOA. We were informed that the final decision is still based on the response from BOA and unfortunately, BOA refused to make any changes. 
Due to this incorrect information, My check/saving account applications were rejected multiple times at different banks, that cause quite bit loss and inconvenience. I do not think I did anything wrong or fraud in the whole process. I followed their invitation to open a new check account and deposited a check of $ XXXX as required. We even contacted the XXXX XXXX  to make sure the check deposition process would go smoothly. We also provided the reason for the check rejection. It was not because of a frozen account or insufficient balance. It was some weird settings from XXXX XXXX. They sent us the check books without enabling the check writing capability. After the issue was fixed from XXXX side, the second check ( same amount, same bank ) went through smoothly. If this was a fraud, what's the point to deposit the second check?

I understand Banks should pay more attention to the fraud activities to protect both Banks and customers. But as a customer, I have the right to be respected. I did not do any fraud but due to the work from BOA and XXXX, I got fraud report on the XXXX XXXX and XXXX XXXX XXXX and caused loss/inconvenience in my daily life. From a customer perspective, nothing can be done to prevent this case from happening again. The bank side, either from BOA or XXXX, should take actions and build a better workflow. 

Again, I strongly request BOA to correct their wrong decision and remove the incorrect report from both XXXX XXXX and XXXX 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 monetary relief