Consumer complaint received 2023-06-14
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
XXXX XX/XX/2023 I entered into a contract that was mutually signed by myself and a client for my company to provide a service and sell a product to the client which had an expense of XXXX. The client agreed in writing via the contract to wire transfer the {$4000.00} to my account. The first time the client attempted to wire the funds they were stopped by an internal fraud XXXX member of BofA ( i found out later had a relationship with the client to where she would use her access to stop any transaction she deemed to be suspicious and then advise him. This action by her ( as I was told by an internal fraud XXXX member of BofA was totally without her jurisdiction ). 
When the first wire transfer did not go through I called the client and advised him that the wire died not go thru and that the wire receipt that he4 gave me did not have the proper ID numbers as per the bank statements to me. He then advised me that he would initiate the wire th4e next day to which he did. The wire went through and was credited to my account appx XXXX XXXX hours later. 
I proceeded to process the clients paperwork and to gather documentation from him as per the XXXX he and I mutually executed in late XXXX. I advised him on numerous a=occasions that this would be at least a XXXX XXXX and that he must abide by the conditions of the XXXX as XXXX as XXXX date requests I gave him in order to ensure his transaction was processes as planned. 
In late XXXX and early XXXX, I sent him a request from XXXX of my XXXX partners to provide additional data and the client did not respond for over XXXX weeks, so I placed his file in stasis until he complied with the data request. Several days later the client sent threatening emails to the broker who had referred his file to me stating that because he has not heard from me he was believing that I had defrauded him out of money as well as that the broker had defrauded him, and he wanted his money back. He also called the brokers son ( who had nothing to do with the transaction at his place of employment and detailed the transaction and how he felt that his mother and I had colluded to defraud him, and XXXX the brokers son and his family with harm and scandal if he did not coerce his mother an myself to refund his money. The contract I signed with the client has in it the customary " bad boy carve outs and provisions XXXX of which was client interference, misrepresentation as well as transaction closure if the was any pending lawsuits. I called the client to advise him of this fact and he blew up at me and I promptly hung up the phone. 

After this the client kept calling the broker and threatening her with lawsuits, bodily harm and calling her son at his home to discuss this matter which was totally against my company a nod her company policy to which she ultimately and to contact her attorney and file a Cease and Desist against him ... XXXX still kept contact her and myself with threats of libel, slander and physical harm. I called BofA to let them in=know that this client wase acting in a very unprofessional manner and that if he called them with threats against me there was prior evidence of his misbehavior which I had taped and that the bank had on voice tape. 

XXXX XXXX weeks later I attempted to use my debit card and found out that it was declining all transactions., Just prior to this I had been called to the local branch of BofA XXXX give them evidence of my identity which they claimed was to protect me... XXXX asked for my passport, state Id, DL, credit cards and any other information that would identify myself as the account holder ... .this is in addition to them having all this on file at the opening of the account. BofA asked me to come into the local branch 3 times sin XXXX 2023 to do this ... .why> they never said other than that they wanted to verify my ID. 

After the first card was declined I called BofA, and they told me that my account was frozen due to a XXXX XXXX XXXX XXXX alert and that my funds were frozen and would be sent to me. I sked numerous times what the problem with my account was and they XXXX refused to even speak to me but kept routing me to several department all of which did not want to answer the basic of question from me, This XXXX not for over 20 days ... to XXXX XXXX that I literally decided to go the t o the local FBI office in my town of XXXX Ca and present myself to them and ask if I was being investigated for a 'global crime ' of fraud, terrorism or money laundering ( all of which the Global XXXX Department XXXX BofA XXXX intimated tha I was being investigated for ). The FBI XXXX I spoke with took my statement and said he would run a check on me with all agencies and agent he had knowledge of and call me back with any results. He called me back within XXXX minutes of me leaving his office telling me that I was not under investigation for any crime by any agency or governing body that he had access to. 

XXXX called the bank and told them of this finding to which they simply said tha they were still doing their review and would call me back within XXXX hours. I have till the very moment which is XXXX days later heard absolutely nothing from BofA other than they are still reviewing my file and will get back to me. 
I have asked what 'global financial crime ' have I XXXX or offence that would warrant an account closure and they have not, nor will they give me any feedback on this matter. 

After my numerous statements to BofA that I was in fact NOT committing fraud and could prove it by my documentation, and aped phone conversations on their side as well as my own..I was asked I was asked by their fraud department to submit al my documentation on the transaction with the client via fax to which I complied immediately sending them approximately XXXX faxes totaling XXXX pages of emails, transcripts of conversations with the client who verbally and via written format agreed to the contract and the sending of the wire transfer in addition the duly and mutually signed contract between XXXX company and mine. 
BofA has not responded to the data/information or phone calls I have made to them at their request in order to have XXXX a resolution on this matter XXXX customer service dept ( not their fraud or global crimes division ) have told me that my funds will be sent to me within XXXX hours, and nothing has been sent. I have called back several times ( at least XXXX ) to get a response on the time to have my funds returned and BofA has not even had the courtesy of returning my call or sending an email. All contact on this matter has been initiated by me and has not been reciprocated by BofA ... ...... 
As a side note I am not new to the financial services arena. I have held a series XXXX Series XXXX and a series XXXX license with fire as well as a series XXXX with the XXXX and have been in this industry for over 30 years also functioning as a compliance XXXX on Wall Street..so I have a more than basic understanding of banking protocols and practices and I have NEVER had this kind of experience with any financial institution globally in all my years functioning in this industry and either a customer or a product provider, I have never been sued, brought up on charges or committed any acts of fraud, money laundering or used my position to aid any XXXX organization. So, with that said can someone at your organization assist me in getting my funds released bak to me and gain some XXXX satisfaction from BofA on this matter? Thank you very much in advance for your time and consideration.

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