Consumer complaint received 2015-08-12
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Consumer Loan
Sub-product: Installment loan
Issue: Managing the loan or lease

Complaint:
this is additional information concerning my complaint number XXXX. My Names is XXXX XXXX. 
I did some research on my own and the loan I took out in XXXX was a Bank of America Clean Sweep Loan, however this loan was done over the phone with a customer representative. The Loan was a one time deposit of {$37000.00} dollars and the fixed rate of 15.9 % which came to payments of {$660.00} for 72 months ( 6 years ). The representative was clear on the fixed rate. I understand those loans may have been advertised by Bank of America as variable rates through other advertising for these type loans. 
The deception here is the customer service rep closing the deal. I would never sign on for a variable rate loan, having already bought a house with fixed rated, my automobiles are fixed, he sold me on the fixed rate, the payment amount and the length of the loan. 
As I state before Bank of America has since discontinued these loans in XXXX according to their customer representatives, to include calling them line of credits and credit cards. 
My most recent conversation with their representatives is that XXXX, as in my previous complaint I was told they would investigate further, but the customer representatives I spoke with on XXXX XXXX, XXXX had no notes or action taken on my account. so we spent XXXX hours on between being on hold and one customer representative and a supervisor trying to give me an explanation as to what may have happened. 
After an attempt to say I have more payments because I missed payments from the representative who knew nothing about these loans of programs, the supervisor acknowledged that I had never missed any payments. Her final answer was that I had a variable rate when I took out the loan, and that in XXXX the loan was changed to a fixed rate of 15.9 % and the 60 month term started then. The 60 month term that is reflected on the document I submitted with claim XXXX, that they provided to me. 
None of what I have been told had added up. First the loan has always been 15.9 %. To claim it went from a variable to fixed rated, and term starting two years after I have had the loan, is questionable. The supervisor telling me the 60 month term went into effect in XXXX tells me they have not kept an accurate history of my account, like I said before I have paid over 90 months ( almost 8 years on this account ). 
In summary the Bank of America Clean Sweep Loan is what this started out as. This customer service rep presented this loan as fixed rate fixed payments. Bank of America has done modifications to this loan, in XXXX and XXXX. The customer reps and supervisors have made it clear they have not been able to articulate an accurate history of my account, that is either because the account history is incomplete, has too many modifications to articulate accurately or they are towing the party line and facilitating unethical practices for Bank of America.

Company public response: Company chooses not to provide a public response
Company response to consumer: Closed with explanation