Consumer complaint received 2024-04-24
Product: Checking or savings account — Checking account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (MD)

Formal Complaint Against Bank of America 's Persistent Violations of Enforcement Action ( Reference : XXXX ) I am writing to file a formal complaint against Bank of America regarding their repeated attempts to circumvent the enforcement action issued on XX/XX/XXXX. Since XX/XX/XXXX, Bank of America has continuously obstructed the processing of redress as described in the aforementioned enforcement action. 

The enforcement action, which pertains to " Affected Consumers '' during the Relevant Period from XX/XX/XXXX, to XX/XX/XXXX, outlines specific criteria defining those impacted. " Affected Consumers '' are individuals who qualified for and received government unemployment insurance benefit payments electronically through prepaid debit cards issued by Bank of America, filed a notice of error concerning alleged unauthorized Electronic Fund Transfers ( EFTs ), and had Bank of America incorrectly determine, solely based on the results of their Fraud Filter, that no error occurred. 

Consequently, Bank of America denied error claims, reversed granted credits, and froze or blocked affected consumers ' accounts, causing consequential financial harm. The core issue arises from Bank of America 's utilization of a faulty Fraud Filter to investigate claims, which was implemented between XX/XX/XXXX, and XX/XX/XXXX. 

Instead of conducting thorough investigations, Bank of America solely relied on this automated process, disregarding established protocols under the Electronic Fund Transfer Act ( EFTA ) and Regulation E. This change in practice occurred despite the surge in error notices filed by prepaid debit cardholders nationwide in the summer of XXXX. 

Moreover, Bank of America failed to address the inadequacies of its Fraud Filter, despite recognizing the potential for erroneous determinations. Internal documentation from XX/XX/XXXX acknowledges the impracticality of solely relying on the Fraud Filter due to the volume of accounts flagged.

This contravenes the requirements stipulated in Sections 908 and 909 of the EFTA, 15 U.S.C. 1693f and 1693g, and Section 1005.11 of Regulation E, which mandate that upon notification of an error, a financial institution must conduct a thorough investigation and report its findings to the consumer.

Bank of America 's deviation from these regulations has led to significant harm inflicted upon affected consumers, constituting a breach of trust and regulatory compliance.

Furthermore, during my recent interaction with Bank of America 's supervisor, XXXX, I encountered blatant disregard for my concerns and a dismissive attitude regarding my eligibility for consequential harm payment as outlined in the enforcement action. XXXXXXXX XXXX condescending demeanor and apparent lack of interest in addressing my legitimate inquiries further highlight Bank of America 's systemic issues in handling consumer complaints. 

I have attached discussions between XXXX and me to this complaint, which clearly illustrate the disrespectful and obstructive behavior exhibited by Bank of America 's representative. XXXXXXXX XXXX implication that I " emptied my account '' as an attempt to collect more money is baseless and offensive, and it underscores the discriminatory treatment I have faced throughout this process. 

In light of the foregoing, I urge Consumer Financial Protections Bureau to thoroughly investigate Bank of America 's ongoing violations of the enforcement action and take appropriate regulatory action to ensure compliance and accountability.

Thank you for your attention to this matter.