Consumer complaint received 2020-05-01
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TX
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: Credit card company isn't resolving a dispute about a purchase on your statement

Complaint:
On XX/XX/XXXX, I submitted a complaint to the CFPB ( # XXXX ) regarding a credit card error dispute that I filed with Bank of America ( BOA ) on XX/XX/XXXX. 

Following my complaint to the CFPB, I received an email from BOA. The email titled " Acknowledgement of Your Inquiry '' was received on Friday, XX/XX/XXXX and was from Resolution Specialist, XXXX XXXX  Mr. XXXX. The email requests that I confirm by XX/XX/XXXX that I engaged the CFPB by speaking directly on the phone. Lastly and more importantly, the email states, " Bank of America, N.A. is required by law to inform you that this communication is from a debt collector. '' I have attempted to make contact with Mr. XXXX. When I call Mr. XXXX 's office, the immediate phone salutation states, " Thank you for calling XXXX XXXX XXXX. We are here to help. Please be advised we are a debt collector. '' Further, I received a letter in the mail from BOA on XX/XX/XXXX. The letter was dated XX/XX/XXXX, and requested that information be provided by XX/XX/XXXX. Luckily, I previously received this letter from BOA on XX/XX/XXXX, through my online portal and I responded with the requested information through the same portal on XX/XX/XXXX. On XX/XX/XXXX, I mailed back the expired request and copies of my prior online submission. 

The email and phone messages from XXXX XXXX XXXX - A DEBT COLLECTOR - does not appear to be in line with the spirit of consumer protection regulations when trying to resolve the credit card error dispute that I originally reported on XX/XX/XXXX - nearly 6 months ago. Not only did BOA not conduct a timely investigation after I followed regulatory guidance and bank policy, BOA restarted an investigation on XX/XX/XXXX. BOA had 45 days to reinvestigate and provide me with a decision. It is now XX/XX/XXXX, or 86 days. 

BOA has had nearly 6 months ( XX/XX/XXXX - XXXX ) to perform not only one but two reasonable investigations. Time is up. Further, the language in the email and phone messages for XXXX XXXX XXXX when referring to an error dispute are misleading, deceptive, and have a chilling effect. I have been beyond understanding and patient. I want credit for my dispute and I want this case closed immediately. 

CFPB : I do not know how to get your attention but this situation is a potentially systemic problem. A financial institution does not have any rights to take months and months, or restart and investigation for an error dispute. And then when the consumer engages the CFPB for consumer protection, the bank forwarded my case ( me - a consumer ) to their " debt collector '' to address my concerns. I am only one consumer speaking out about a {$3400.00} credit card error. These practices are problematic on many levels. How many more consumers are out there just like me? How do these credit card practices impact demand deposits? And how much does all of this add up to in restitution to consumers???

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