Consumer complaint received 2026-03-23 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem using a debit or ATM card
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NV

Complaint narrative:
I am submitting this complaint regarding Bank of Americas handling of unauthorized transactions on my account and what I believe to be a deficient and inconsistent fraud investigation. On XX/XX/scrub>, 2025, I notified Bank of America that my phone and wallet had been stolen. During that call, I specifically informed the bank that the phone number associated with my account had been compromised and should no longer be used for authentication. I was advised that my account would be locked until I could verify my identity in person. Despite this notification, Bank of America continued to rely on the same compromised phone number as the primary method of authentication. Based on the sequence of events, it appears that an unauthorized individual who had possession of my stolen phone was able to contact the bank, pass verification using that compromised number, and regain access to my account. This allowed continued unauthorized withdrawals. I later discovered that my account had been drained and filed fraud claims. Bank of America split these into multiple claims and made inconsistent determinations : Claim XX/XX/XXXXXXXX {$19000.00} Denied Claim XX/XX/XXXXXXXX {$13000.00} Denied Claim XX/XX/XXXXXXXX {$38.00} Approved as fraud All of these transactions occurred during the same time period and resulted from the same unauthorized access to my account. By approving Claim XX/XX/XXXXXXXX, Bank of America has already determined that fraudulent activity occurred. However, the bank continues to deny the larger claims while approving only the smallest transaction. This inconsistency indicates that the claims were not properly investigated as part of a single fraud event. Additionally, Bank of America failed to properly secure my account after being notified of a compromised authentication method. Allowing continued use of a known compromised phone number for identity verification represents a serious failure in account security procedures. Under the Electronic Fund Transfer Act and Regulation XXXX, financial institutions are required to conduct a reasonable investigation and protect consumers from unauthorized electronic fund transfers. Based on the facts of this case, I do not believe Bank of America met those obligations. I am requesting : XXXX. A full reinvestigation of Claim XX/XX/XXXXXXXX and Claim XX/XX/XXXXXXXX XXXX. Immediate provisional credit for the disputed amount totaling {$32000.00} while the investigation is ongoing XXXX. A review of call authentication records and how access was restored after the account had been reported compromised XXXX. A consistent determination across all transactions tied to the same fraud event I am prepared to provide documentation supporting my claims, including written confirmation from Bank of America that at least XXXX transaction was determined to be fraudulent. I am seeking full reimbursement of {$32000.00} and a proper resolution of these claims.

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