Consumer complaint received 2020-09-04
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: AZ
Product: Mortgage
Sub-product: FHA mortgage
Issue: Trouble during payment process

Complaint:
My wife lost her job due to covid. In XXXX XX/XX/2020 I received a notification from Bank of America stating they are here to help victims from Covid and offered a Covid Relief Program that will give me relief from mortgage payments for six months. On XX/XX/2020 I received an official letter from Bank of America confirming the covid relief and postponing payments for 6 months which is up to XXXX. I also called that day to speak to a Bank of America customer service representative to ask how this will impact my mortgage. She assured me that the postponed payments will be added to the end of the loan so it will lengthen my payment period. In XXXX my wife was working again so I didn't need to be on the covid relief anymore. On XX/XX/2020 I logged into my BoA mortgage account and authorized a mortgage payment of {$870.00} which is my normal monthly mortgage payment. On XX/XX/2020 I received an email from my bank XXXX XXXX XXXX. It said that I incurred an overdraft on my account and they immediately charged me a {$34.00} overdraft fee. I immediately checked my account to find out that Bank of America drafted {$1700.00} from my account. On XX/XX/2020 I call Bank of America to find out why they charged much more than I authorized. The customer care representative informed me that BoA has been experiencing a large system glitch that has caused this same thing to happen to multiple customers. I explained to her that all of my other bills payments are going through and causing multiple overdraft fees of {$34.00} each. She stated that she is going to reverse the unauthorized charge and I should see it reversed in 3-5 business days. On XX/XX/2020 I didn't see it reversed so I called Bank of America again and they had notified me that the request was put in and that they escalated the reversed payment should happen either Monday XX/XX/2020 or Tuesday XX/XX/2020. I also let her know of my multiple overdraft fees and how I need my money back asap. On Tuesday XX/XX/2020 I didn't see any activity so I called Bank of America again. I was told that there are 2 escalated requests and that he is going to submit another escalated request. I advised that i'm noticing none of these requests are escalated or being processed at all. I let him know the urgency of this since it has caused severe financial damage on my XXXX checking account. I asked to speak to a manager. He said he is going to get him on the line and he hung up the call on me. I was on hold for 2 hours every time I call to speak to Bank of America, so I could not take that much time out of my work day to call back. Today is XX/XX/2020. I work in finance and I understand that a payment reversal takes 3 business days. This is now a fraudulent charge from Bank of America since I did not authorize {$1700.00} in the first place. I could not afford to buy food or gas as my account was sitting negative. Today XX/XX/2020 I received my paycheck direct deposit and it was eaten up by the overdraft fees and the fraudulent charge from Bank of America. Instead of a covid relief, Bank of America has done more damage to me financially. Please help me get the fraudulent charge reversed by Bank of America

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