Consumer complaint received 2024-05-22
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (GA)

MY NAME IS XXXX XXXX. I AM NOT A 3RD PARTY. I AM A NATURAL PERSON SUBMITTING THIS COMPLAINT ON MY OWN BEHALF. 


I AM REQUESTING A LIVE REPRESENTATIVE HANDLE THIS COMPLAINT. 

Subject : Unauthorized Debit of {$14000.00} by Bank of America for Disputed Debt Dear Sir/Madam I am writing to lodge a formal complaint against Bank of America for the unauthorized debit of {$14000.00} from my account in XX/XX/XXXX, which was done without my consent and their continued reporting of the account as delinquent on my credit report despite the debt being disputed. I believe bank of America 's action are retaliatory in nature as I had previously filed a complaint with the CFPB.I also believe that this action is in violation of several laws and regulations designed to protect consumers, and I am seeking the assistance of the Consumer Financial Protection Bureau in resolving this. 
matter. 

XXXX XX/XX/XXXX, Bank of America withdrew {$14000.00} from my account for a debt that I had already disputed on XX/XX/XXXX. 
-The withdrawal was conducted without a definitive conclusion to the dispute, and I did not authorize Bank of America XXXX take these funds. 
Additionally Bank of America has continued to report this account as delinquent to credit reporting agencies, which has negatively impacted my credit score and my ability to obtain credit. 
I would like to bring to your attention the following the following laws and regulations that may have been violated by Bank of America 's actions : 1.FDIC Regulations : As per the Federal Deposit Insurance Corporation ( FDIC ) regulations, banks are required to provide accurate information about transactions and must handle disputes promptly and fairly. the unauthorized withdrawal of funds from my account without resolution of the dispute appears to contravene these regulations. 
XXXX. Fair Debt Collection Practices Act ( FDCPA ) : Although the FDCPA primarily governs debt collectors, it is important to note that any entity collecting debt should not engage in unfair or deceptive practices. Withdrawing funds from a consumer 's account for a disputed debt may fall under such practices.

3. Consumer Credit Protection Act ( CCPA ) : The CCPA provides certain protections to consumers regarding the garnishment of wages and the unauthorized taking of funds. If the funds were taken without proper legal process or a valid court order, this could be a violation of the CCPA. 
Given these concerns, I respectfully request the CFPB 's intervention to : -Investigate the unauthorized debit from my account by Bank America for a disputed debt. 
XXXX Bank of America to provide me with a full refund of the {$14000.00} that was improperly taken from my account and ensure the funds are promptly returned to me. 
-Confirm that Bank of America adheres to all relevant consumer law -Take appropriate action to ensure that Bank of America ceases reporting the account as delinquent to credit reporting agencies until the dispute is resolved -Assist me in seeking restitution for any financial harm that has resulted from Bank Of America 's actions -Assess whether Bank of America has violaeedany other consumer protection laws or regulations beyond those already cited and take appropriate enforcement action I have made repeated attempts to address and resolve these issues directly with Bank of America, but my efforts have been unsuccessful. The bank 's lack of response and failure to rectify their reporting and withdrawal practices have left me with no other recourse than to seek the help of the CFPB. 

The financial and emotional toll of this situation can not be overstated. I have experienced undue stress and anxiety as a result of Bank of America 's actions, and I am concerned about the long-term effects on my financial well-being and creditworthiness. 

Thank you for your attention to this serious matter. I look forward to your prompt response and assistance. 

Sincerely,