Consumer complaint received 2024-02-25
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (CA)

XXXX XXXX XXXX XXXX XXXX, XXXX XXXX, California, XXXX XXXX XXXX Date : XX/XX/XXXX Consumer Financial Protection Bureau XXXX XXXX XXXX Iowa XXXX, Iowa XXXX Subject : Formal Complaint Against Bank of America for Mismanagement of Auto Loan No. XXXX and Failure to Honor Settlement Agreement Introduction : I, XXXX XXXX, am filing this complaint against Bank of America regarding the mishandling of my auto loan ( No. XXXX ), which was exacerbated by their lack of understanding and accommodation of my circumstances, particularly during a period of significant personal distress in XXXX. 

Narrative of Events : In XXXX, during a time of considerable personal and professional upheaval, I faced an issue where a contractor unlawfully retained possession of a vehicle leased to my startup under the aforementioned auto loan. Despite my efforts to resolve the situation and continuing to make timely payments, Bank of America charged off the vehicle, complicating the matter further by not repossessing it. This action left me responsible for the balance while the contractor continued to use the vehicle without my consent. 

Efforts to negotiate with Bank of America for the dismissal of the account and its removal from credit bureaus, due to their errors and the unique circumstances of the case, were initially met with agreement. However, Bank of America failed to uphold their promise, leaving derogatory marks on my credit report. 

Mental Health Considerations : The period of XXXX was marked by significant mental health challenges for me, which deeply impacted my ability to manage these financial disputes. The lack of guidance, foresight, and understanding from Bank of America not only failed to accommodate my condition but also exacerbated my distress. 

Violations and Requested Resolution : Fair Credit Reporting Act ( FCRA ) : Bank of America 's failure to accurately report the status of my auto loan and to investigate disputes as required by the FCRA has unjustly impacted my credit report. 

Americans with Disabilities Act ( XXXX  ) : The bank 's lack of accommodation for my mental health challenges, affecting my ability to manage and dispute the auto loan, may constitute a failure to provide reasonable accommodations. 

I request the following from the CFPB : A thorough investigation into Bank of America 's handling of auto loan No. XXXX, including the charge-off process and failure to honor the settlement agreement. 
Immediate correction of any inaccuracies on my credit report related to this account and removal of derogatory marks stemming from Bank of America 's errors. 
Monetary compensation for the financial and emotional distress caused by these issues, acknowledging the impact of Bank of America 's actions on my mental health.

Enforcement of policies that ensure Bank of America and similar institutions provide adequate accommodations for customers facing mental health challenges. 
Conclusion : The handling of my auto loan by Bank of America has not only resulted in financial harm but also significant emotional distress, compounded by my mental health condition. I urge the CFPB to take immediate action to rectify these injustices and hold Bank of America accountable for their failures. 

Sincerely, XXXX XXXX