Consumer complaint received 2024-04-18 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Closing your account — Company closed your account
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MA

Complaint narrative:
To the Consumer Financial Protection Bureau, I am writing to file a formal complaint against Bank of America regarding their recent actions which I believe to violate consumer rights and fair banking practices. 

On XX/XX/2024, I discovered that all of my Bank of America credit card accounts, which held a history of over a decade and significant credit limits, were inexplicably closed without any prior legal notice. Despite the importance and sensitivity of such matters, I was not formally informed through the appropriate channels, such as via mail, as legally required. Instead, I received a phone call from an undisclosed number, which my XXXX marked as spam or scam. In today 's climate of rampant phishing scams and cybercriminal activity, it is unacceptable for a reputable institution like Bank of America to rely solely on phone calls, especially when they can easily be mistaken for fraudulent attempts. 

When I attempted to verify the authenticity of the call, I was advised by Bank of America XXXX to " just XXXX it '' to confirm whether the call was legitimate or not. Even though I google it, the number was marked as spam in some forums. This XXXX and XXXX approach to customer security is concerning, particularly when dealing with sensitive financial matters. Moreover, it is unreasonable to expect customers to discern between genuine bank communications and potential scams, especially when legitimate calls are flagged as spam by both phones and online resources. 

The abrupt closure of my credit card accounts not only disrupted my financial stability but also had cascading effects on my credit and banking activities. Not only my credit cards though! Without warning, my checking account ending in XXXX was blocked, rendering me unable to pay essential bills such as my mortgage and other credit obligations. This lack of access to my funds caused undue stress and inconvenience, not only for myself but also for my spouse, who shares a mutual account with me. His autopayments were blocked too! 

Furthermore, when I contacted Bank of America to rectify the situation, I was met with further incompetence and disregard for protocol. Instead of addressing the issue promptly and efficiently, I was asked to verbally confirm MY NAME and ADDRESS ONLY! This was their compliance requesta request that is both redundant and insulting given that I have received statements from Bank of America regularly for decades, all of which are addressed to my correct name and address. 

I believe that Bank of America 's actions in this matter are in direct violation of consumer rights as outlined by the Consumer Financial Protection Bureau. As a loyal customer who has entrusted Bank of America with my financial affairs for over a decade, I expect to be treated with the respect and professionalism that such a relationship warrants. Anything less is unacceptable and undermines the trust and confidence I have placed in the banking system. 

I kindly request the Consumer Financial Protection Bureau to investigate this matter thoroughly and take appropriate action to ensure that Bank of America adheres to fair banking practices and provides adequate redress for the harm caused to my credit and XXXX XXXX. 

Thank you for your immediate attention to this matter. I look forward to a favorable resolution. 

Sincerely,

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