Consumer complaint received 2023-02-01
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TX
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
To whom this may concern, I would like report the unwarranted closure of my personal checking and savings accounts at Bank of America and the false and negative report that has been written on my name that is impacting me more than a year since the account had been closed. 

On XX/XX/XXXX, a mail was dispatched to me from Bank of America stating that my Personal Checking/Savings account ending in XXXX will be restricted from use in 21 days, and permanently closed 30 days from the date of this notice I was initially shocked and in denial, as I had owned the account since XXXX, since I was a teenager. A few days later, I and my mother who had received the exact same mail, went to the bank to confirm if the mail was not an attempt from a fraudster to gather information for us. The Bank confirmed the mail was indeed sent by them and that we needed to arrange for methods to extract our funds from the accounts. We asked for an explanation of why the accounts where being closed, why we were receiving such a mail after being customers for 10+ years. The bank offered no explanation, stating instead that they could not explain why the accounts were being closed. With the response, my mother and I decided to move on from the situation and begin extracting our funds from our several accounts with the bank. 

On XX/XX/XXXX, I attempted to open a new bank account with XXXX XXXX at a XXXX XXXX  location nearby my address. This was a favored option for me because, I already had an auto loan with the Bank. In the process of opening the bank account with the client manager, I was told that my request was denied and they couldnt provide to me what the reasons were, however, a mail would be sent to me on what the details were. Later that day, I decided to get a consumer report on myself to better understand why I would be refused an account as I have great credit score, I own a home and have a high income job. I retrieved a report from XXXX which in the report stated my account from Bank of America had been closed for Suspected Fraud Activity. I was shocked because I have never committed ANY fraudulent activity, ever! In addition to that, my account which I had owned for 10+ years was closed on a claim that was not even communicated to me or I was not involved in the validation if the claim had any basis. I quickly called the same day, the Bank of America number listed on the report, to make a complaint on why this was on my report. I was later informed that my account had been flagged for suspected fraud after a transaction, which I am not very privy too was made invalid. I explained that the account had a history of making many large transactions as I have consistently done so for a number of years with no issue. In addition, I asked why I was not communicated to or an investigation conducted to determine if any fraud actually occurred. I reiterated that I should have been communicated to on what the issue was, to have an opportunity to rectify it, especially considering this was an account that had been operating for 10+ years, not just a new account without any history. The operator on the phone did not have any response to my questions. I demanded for action to have the report erased from my record, but I was only forwarded to several other departments requiring me to constantly repeat my case. At the very end, I was referred to one last department who stated to me that there was nothing in their capacity they could do to rectify the issue. They only solution they provided was to write a complaint to a Bank of America po box .

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