Consumer complaint received 2020-11-10
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Other transaction problem

Complaint:
I noticed an unauthorized amount of {$400.00} withdrawn from my account on XX/XX/2020 and reported it to Bank of America. I was told by their representative that I would receive a temporary credit and the investigation would take 10 days. I never received the temporary credit. I did not authorize this XXXX transfer. I am getting two stories, one representative said it was done on my computer and the other one said it was done on my cellphone. Today, XX/XX/2020 I was told by a representative in the Fraud Department that I am being penalized and fully responsible for the {$400.00} transaction because Bank of America said it came from my device. It was clear on day one that the transaction came from my device. The representative told me I was hacked and helped me to change my passcode while on the phone with me as I reported the fraud on my account to Bank of America. Bank of America knows that my account was hacked and simply will not take responsibility. They told me that I was on my own basically. They did not offer any resolutions to me. I am devastated and have been banking with them for over 25 years. I should not be responsible for this unauthorized transaction ( electronic transfer ) as they say I am a loyal customer, but are not offering me any type of resolution. Unfortunately, I have nothing to send since Bank of America removed the recipient from my account. Why did they remove the recipient? They removed the person because they know that fraud had taken place. I do not underI noticed an unauthorized amount of {$400.00} from my account on XX/XX/2020 and reported it to Bank of America. I was told by their representative that I would receive a temporary credit and the investigation would take 10 days. I never received the temporary credit. I did not authorize this XXXX transfer. I am getting two stories, one representative said it was done on my computer and the other one said it was done on my cellphone. Today, XX/XX/2020 I was told by a representative in the Fraud Department that I am being penalized and fully responsible for the {$400.00} transaction because Bank of America said it came from my device. It was clear on day one that the transaction came from my device. The representative told me I was hacked and helped me to change my passcode while on the phone with me as I reported the fraud to my account to Bank of America. Bank of America knows that my account was hacked and simply will not take responsibility. They told me that I was on my own basically. Did not offer any resolutions for me. I am devastated and have been banking with them for over 25 years. I should not be responsible for this unauthorized transaction ( electronic transfer ) as they say I am a loyal customer, but are not offering me any type of resolution. Unfortunately, I have nothing to send since Bank of America removed the recipient from my account. Why did they remove the recipient? They removed the person because they know that fraud had taken place and know they do not want to take responsibility for it. If a Financial Banking Institution knows that fraudulent unauthorized transaction took place on my Bank of America account, why did they decide to leave me on my own without any resolution without any recourse.

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