Consumer complaint received 2021-04-02
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: IL
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement
Sub-issue: Card was charged for something you did not purchase with the card

Complaint:
VISA # XXXX To whom it may concern, I reported my card as lost/stolen on XX/XX/2021. 

There were 2 charges on the card that I declared as unauthorized, which were as follows : XX/XX/2021 : {$600.00} - XXXX XXXX XXXX  # XXXX XXXX XXXX XX/XX/2021 : {$1600.00} - XXXX XXXX # XXXX XXXX XXXX On XX/XX/2021, I received a letter from the bank ( please see attached ) stating that I am responsible for these transactions due to the following reason : We confirmed your card was used for the charge ( s ). The chip was read, your PIN was entered, and/or you signed for the merchandise or service, which indicates you or someone you allowed to use your card was present. 

First of all, I would like to state that all the transactions identified by me as fraudulent/unauthorized are in fact fraudulent/unauthorized. Under penalty of perjury, a police report # XXXX has been filed with the XXXX Police Department, regarding these transactions to show I am innocent. My actual physical card was lost/stolen, and I did not approve the use of my card. I do not know who used my card. If the bank believes I may have approved this transaction via a text message, email, or any other means, or that a PIN has been used, or the items have been signed for, does not alleviate the Regulation Z liability or the unauthorized nature of these transactions. I would like to state that I still consider this dispute unresolved, and disagree with the bank 's decision. I will not pay any of the disputed portion of my credit card bill, and in reporting of my balance onto credit bureaus, I, hereby, request that they mention " consumer disputes this account 's information ''. 

Secondly, according to Reg Z, the bank must provide me with an explanation that sets forth the reasons for which they believe the transaction is valid. In the letter sent to me by the bank, I have not been provided with a clear explanation. The reason provided is very vague, and provides no specifics. 

I recall receiving a text message from the bank on the day, which I accidentally pressed yes for the transaction, however, in a few minutes, after re-reading the text more carefully, immediately pressed " no '', blocked the card, and reported the transactions. I do agree that I may have been negligent, in how I replied to the verification text sent to me, however, as per regulation Z, negligence can not be used as basis to deny an unauthorized transaction claim. The bank has also failed to mention on the letter that I am entitled to a copy of the documentary evidence used to reach this determination. 

According to Reg Z, I must be provided with the documentary evidence used by the bank in reaching their conclusion. Please consider this my notice in writing for these documents to be provided to me. Refusal by the bank and ignoring of my request is a direct violation of Reg Z and the truth in lending act. 

To resolve this matter amicably, I would appreciate it, if the bank could reimburse me for the unauthorized transactions on my account, and do not hold me liable. Fraud on the card was reported promptly, a police report has been filed, and negligence can not be used as basis to deny a reg Z claim. Failure to do so is a violation of the truth in lending act for refusal to reimburse me for the unauthorized charges on my credit card account, refusal to do an actual investigation, lack of mentioning the part that I am entitled to a copy of the documentary evidence used by the bank in reaching their conclusion in their final letter regarding the status of the claim. 

Thank you for your time and consideration. Sincerely, -XXXX XXXXXXXX

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