Consumer complaint received 2023-03-29
Product: Credit card or prepaid card — General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement — Credit card company isn't resolving a dispute about a purchase on your statement
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (NC)

This dispute is regarding a fraudulent purchase on our company credit card discovered in XXXX. There was an inadequate investigation by Bank of America and they have denied crediting our account. Bank of America Case # XXXX We are a small general contractor with a newer account at Bank of America and are a premiere customer. I am a former employee of the company and have had accounts with them for over 20 years. This has put an immense burden on a small business. 

We review our card statements constantly which is done by my finance leader. She discovered a questionable {$8500.00} purchase which had occurred in XX/XX/2022 and I believed she had flagged it with the bank. I discovered in XXXX as the charge was still showing that there was a problem and reported it to the bank XXXX line I received a letter on XX/XX/XXXX attached stating denial for " inconsistent details surrounding the claim '' ( letter attached ). I was very surprised as it is very clearly not our purchase. 

I called XX/XX/XXXX to the XXXX line and asked what to do. The bank responded that we could appeal this decision and asked for additional information. They did not clarify what information was inconsistent and told me to write a letter to a XXXX XXXX XXXX I asked to be able to email a manager or an actual person and was told only a letter could be sent. The agent indicated to me that we could be part of a scheme which I found offensive. 

On XX/XX/XXXX, I asked our local branch manager for help and she asked me to provide a copy of the letter I sent to the XXXX XXXX and the regional manager would call me. It's been six weeks with no response. 

I then conducted my own investigation with the merchant and discovered multiple problems. The merchant is XXXX XXXX XXXX of XXXX XXXX NY - an electrical and microwave component supplier. This is what I learned : The vendors authorization form is attached 1. Somehow the fraudster had our card number but : : 2. The given name ( XXXX XXXX ) is not the cardholder or anyone associated with our company 3. The company name collected " Synergy '' is not our company name 4. The contacts ; phone/email collected for XXXX XXXX are not accurate and I called and emailed this person 4x to try to sort it out but they are dead contacts 5. The components ( XXXX XXXX  ) are not something a dock builder purchases and should have been flagged immediately by the banks fraud toolset. 
6. The shipping address was listed as " XXXX XXXX '' I was able to track down and discover that the materials were shipped XXXX XXXX I had notified the vendor to publish a chargeback but they said it had to be done by the bank. 

Since this time I have called the XXXX line 4-5 times for a follow-up. I have visited my branch 4x inquiring about the escalation. 

On XX/XX/XXXX, the branch manager informed me verbally that I have been sent a letter indicating that we reported the issue too late and that the case would be closed. I have received no letter to that effect and despite many attempts to resolve heard this for the first time yesterday. 

Despite multiple attempts to escalate, speak to anyone in authority - I can't resolve what is clearly a fraud issue. I spoke to XXXX XXXX people and no one could tell me if the claim had even been reviewed or the documentation I provided had been investigated. I did a lot of research for the bank that should have cleared our account. 

I have no choice and have to file this CFPB complaint and will be grateful for your assistance. I have filed a report with the FBI and will be contacting the Attorney General 's offices in New York and North Carolina.