Consumer complaint received 2025-08-08 00:00:00
Product: Checking or savings account — Checking account
Issue: Opening an account — Account opened without my consent or knowledge
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: GA

Complaint narrative:
Bank of America This complaint concerns a {$35000.00} insurance settlement check issued jointly to myself and XXXX XXXX ( also known as XXXX XXXX ), who was employed by Bank of America at the time of the transaction. The check was legally deposited ; however, the account used to receive the funds was opened under the name XXXX XXXX XXXX, an entity I do not own. I am the legal owner of the XXXX XXXX XXXX, and I did not authorize or consent to the use of this business identity in the creation or operation of any banking account. Although operated as a simple checking account, it was presented or classified in a manner consistent with a trust account. Following the deposit, the funds were electronically transmitted out of that account without my approval, explanation, or receipt of supporting documentation. 

An indemnity agreement was later introduced to justify or shield the transfer. I did not authorize, approve, or sign that indemnity. The other co-payee on the check, XXXX XXXX, was involved in the indemnity agreement, as evidenced in related records and correspondence. At the time, she was an employee of Bank of America with proximity to internal systems governing ACH transfers. Her simultaneous employment and financial participation create a matter that warrants institutional review and regulatory consideration. 

The unauthorized use of my registered business identity, combined with the execution of an indemnity without my consent, resulted in direct financial harm to my business operations, loss of access to funds, and impairment of my legal position. This matter raises compliance concerns that fall within federal banking regulations, including insider involvement in transactions impacting a co-payees rights. 

I am requesting that Bank of America conduct a full compliance investigation into employee conduct and insider involvement related to this transaction, and provide full and unredacted production of all records, instruments, correspondence, internal memoranda, system logs, regulatory filings, and any other documentation, in whatever form maintained, pertaining to the transaction, the account, the indemnity, and the employees involvement therein. I further request the implementation of corrective measures proportionate to any breaches of policy or federal compliance obligations identified during review, and the preservation of all my legal rights and remedies, ensuring that this resolution does not operate as a release for any other parties or entities implicated in the matter. 

This filing does not waive any rights to pursue individual or institutional action in any forum. It is submitted with the expectation of a good faith response and regulatory compliance, including any federally required reporting obligations.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation