Consumer complaint received 2024-10-28
Product: Checking or savings account — Checking account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (FL)

I been a customer of Bank of America for some twenty years and never had a problem. Then unfortunately in XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Initially I had given power-of-attorney to my attorney to transfer funds out of my checking account into my XXXX  banking account. Everything went smoothly until he passed away suddenly on XX/XX/XXXX. I then sent five letters to the bank asking them how best I conduct business with them while XXXX, specifically how could I transfer funds as before. Every one of my letters was ignored.

Then a fellow XXXX  advised me that it was possible to give powers-of-attorney for a single transaction only so
I gave one to my friend XXXX and it woks just fine. I believe I gave another one-transaction only power-of-attorney to another friend but I am not certain. Then I gave several one-transaction only powers-of-attorney to the niece of one of my friends. I was told she lived in XXXX XXXX XXXX. All went fine as far as I knew but after I was released, when I finally was given full access to my checking account I realized the account had been drained. Within days I notified the bank of this fraud. This was on XX/XX/XXXX. 

When I filed my claim I advised the woman I reported it to that I was very much interested in being informed about how the perpetrator got away with this. I was advised that the bank had 90 days to investigate my claim and provide me an answer. I fully expected one of the investigators to telephone me and interview me to get all the facts straight and answer any questions they might have.This never happened. Instead, 65 days later I received the attached ridiculous letter from the bank denying my claim because they claimed I did not notify the bank within 60 days of the date of the monthly bank statement that revealed the fraud. 

On XX/XX/XXXX, I called the Fraud Department and advised them that I did not report this fraud at the time it occurred because the bank was not sending me monthly statements in direct violation of 12 CFR 1005.9 ( b ) as well as the banks own Deposit Agreement and Disclosures. I informed the Fraud Department employee that this was most likely due to the fact that the bank was ignoring me perhaps because I was XXXX. He advised that the Fraud Department was unaware of my XXXX  and asked that I provide them with proof of the dates which I did. Naturally I was wondering just what kind of investigation the bank was conducting if they were unaware of important information like that.

I submitted those dates on XX/XX/XXXX. Then on XX/XX/XXXX I received an even more ridiculous letter from the bank denying my claim. Again, not one time did anyone from the bank telephone me to ask for clarification on anything. First I am wondering if the bank was even referring to the right claim. The letter makes reference to the transaction and the withdrawal both in singular form whereas my claim involved multiple ( 10 ) transactions ( withdrawals ). Please see the attached 3 snapshots of these transactions. The letter states that I authorized the transaction. I had authorized several transactions but the sum total was much much less than the total amount taken from the account.In fact, I am not certain that any of the one-transaction only powers-of-attorney that I authorized were used to make any of these withdrawals. 

Thee letter goes on to state that my identification was used to make the withdrawal. Be advised that I do not know how this fraud occurred. I was not there. And the bank ignored my request for this information. I had given one-transaction only powers-of-attorney to a female in XXXX XXXX XXXX. I am guessing from the banks letter that she conspired with some male person to obtain false identification in my name. My attorney who lived in XXXX XXXX was in possession of my Drivers License when he passed away on XX/XX/XXXX and I was unable to retrieve it. It is utterly preposterous to suggest that this unknown male person was somehow able to get his hands on my Drivers License that was lost 4 years earlier in a city XXXX miles away. Therefore he must have used false identification to make these withdrawals. And I expect bank employees to be highly skilled at spotting false identification. And if they failed to spot it in this case, then the bank is responsible.

The letter goes on to list as a reason for denying my claim the fact that the bank was not notified that my identification was lost. First of all, I would like to know where it is written that I must do this. And second, be advised that I had absolutely no concern that my Drivers License would end up in the hands of some criminal. I had no reason to believe that my attorneys widow disposed of it in an irresponsible manner.

It is my belief that the bank was never interested in doing the right thing by pursuing the people who perpetrated this fraud and helping me get my money back. I believe they were only interested in doing what was most convenient and least expensive for them, i.e., looking for any excuse to deny my claim. So in my letter dated XX/XX/XXXX, I asked if a police report was ever filed. I asked that if not, did the bank ever intend to file a police report. If the answer was no, I asked the bank to send me all the pertinent information so that I could file the report myself.But true to form, the bank refused to answer me. I find it morally reprehensible that a bank could deny one of its customers this important information.