Consumer complaint received 2022-10-28
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MD
Product: Payday loan, title loan, or personal loan
Sub-product: Personal line of credit
Issue: Getting a line of credit

Complaint:
UPDATE It has been over a month since I reported the issue below to BOA and still nothing has been done. A few days after reporting the issue, I received a call from a BOA representative who provided me with his contact information. This representative has yet to return any of my calls. I have tried calling him repeatedly and 6 weeks later, NOTHING. In addition, I received the denial letter in the mail, detailing specifically why I was denied credit. The letter states specifically, " We were unable to approve your request because 1. Your proportion of loan balances to loan amounts is too high on your credit report. 2. You have too many accounts with balances on your personal credit file. '' Now, I am not sure who credit file they are referring to but it is not mine. My credit is over XXXX and have a utilization percentage rate of under 1 % and at the time I submitted my application. It doesn't take 6 weeks to review this complaint and respond if in fact you denied me for just reasons. I would assume, this much time would be taking if you are trying to cover something up. A quick XXXX search has proven to support my accusations. Bank of America recently paid a {$330.00} XXXX fine for discrimination against minorities. I am not surprised. It very apparent what is happening here. How do you explain denying my application with a credit score as high as mine and a utilization as low as mine if not for your very apparent discriminatory practices that clearly is still in works. How many applications are being denied based on someone's race or skin color. BOA you are aware that this behavior is very much illegal correct? As I stated before in my previous response, SHAME ON YOU. Especially the corporate executives who instill and promote this behavior. I will continue to bring light to this matter because enough is enough. There are innocent people wanting to get the same opportunities as others and should not be treated this way. 

PREVIOUS RESPONSE In early XXXX, I reached out to a Small Business Banking specialist to apply for a Business Line of Credit for my business. I am not a current customer of BOA and was looking to transfer my main accounts over and establish a relationship. My company has been around since 2016 and have done substantially well for ourselves. My credit is superior as well as the business credit. So, I have never been denied a credit request in my life not has my business. That is until I applied at BOA. Imagine my surprise once I was told that I was denied and would be told the reason via mail for a business that grosses and averages over {>= $1,000,000} per year, even during the pandemic. It absurd. My taxes are current. The business taxes are current. My credit is great, and the business credit is great. The company is and always has been profitable. But yet, I was denied a BLOC for whatever reason.and I can only it is one reason. I am a person of XXXX, and this is no secret that companies continue to discriminate against business XXXX or XXXX  business owners and its sickening. I was always aware of companies such as XXXX XXXX and their rampant and blatant discriminatory practices, but I was unaware that BOA did the same thing. Normally, I would take my business elsewhere, but I can no longer bow down to these systematic XXXX issues that will continue to plague the society that my children will have to live in. Bank of America you should be ashamed of yourself. If you will continue to behave in this manner, be bold about it. Let the world know what you stand for so that every XXXX and XXXX  client you have can make an informed and conscious decision on whether they should bank with your company. How do you explain denying a consumer that has never received a denial letter in her life. I have always been approved or offered a counter offer but never ever ever have I been denied nor do I have any reasons to be denied. This is absolutely disgusting and disheartening.

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