Consumer complaint received 2018-10-12
Company: BANK OZK
State: MO
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Banking errors

Complaint:
I am writing today regarding an unresolved dispute with Bank of the Ozarks. I noticed this information listed on my XXXX report and disputed the information with that reporting agency. They claimed that they verified the information with Bank of the Ozarks. I know this to be inaccurate information and that an error has been made on the part of Bank of the Ozarks. Therefore, I disputed this information with Bank of the Ozarks as an information furnisher, pursuant to Section 623 of the Fair Credit Reporting Act on XX/XX/XXXX. I know this to be an error because when I opened the account with {$400.00}, the first transaction was a deposit for {$260.00}, putting my balance at well over {$600.00}. The first two debt purchases I made of {$15.00} and {$19.00} after this over drafted the account by some error. I called the bank several times in XXXX and XXXX of XXXX in an attempt to resolve the issue. However, any representative I spoke with could not explain why or how this error occurred because of the positive balance on the account. She stated to me that it should not have occurred and that she was confused as to why it happened. She stated that she would be working to get the issue resolved for me. However, no one ever fixed this error. It is important to note that I have been disputing this information ever since this error occurred, and in writing after the account had been closed. The accounting of the balance after this incident of this error makes the whole amount of the balance, thereafter, incorrect. I have broken down the correct accounting of the balance, including adding the initial deposit of {$400.00} that the account was opened with, that the statement history provided by Bank of the Ozarks did not accurately reflect. However, the copy of the contract signed by me that was provided by Bank of the Ozarks, which I have attached as well, does reflect this information. I included the first transaction on the account which was a deposit of {$260.00}, which brought the beginning balance to {$660.00}. I removed the {$35.00} overdraft fees associated with the accounting error outlined above due to the fact that these fees should not have been assessed because of the accounting error on the part of Bank of the Ozarks, and the fact that the balance calculated after this error by Bank of the Ozarks is incorrect and none of the fees assessed to this account are accurate or appropriate. I subtracted all additional debts, and added all subsequent deposits in order, reflected by the statement history provided by Bank of the Ozarks to me in their response to my dispute, which I have also attached for your reference. The continued correct accounting of the balance, subtracting debts and adding deposits in the order they occurred on the statement, not only shows that the balance of this account never went into the negative, but that the Bank of the Ozarks actually owes me the exact amount of {$160.00}. I have made several attempts to resolve this issue with Bank of the Ozarks to no avail. I would like to give Bank of the Ozarks the opportunity to resolve this matter amicably in the hopes that they will do the right thing of their own accord, before further legal action becomes necessary on my part. I will pursue my rights as a consumer to the fullest extent pursuant to state and federal law and the FCRA as necessary.

Company response to consumer: Closed with explanation