Consumer complaint received 2025-05-16 00:00:00
Product: Prepaid card — Government benefit card
Issue: Problem getting a card or closing an account — Trouble getting, activating, or registering a card
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA

Complaint narrative:
To Whom It May Concern, I hereby submit this formal complaint against Bank of America for its prolonged failure to resolve an Incorrect Reporting/Processing ( IRP ) dispute that has persisted for over four years, including during the critical period of the COVID-19 pandemic. This failure caused repeated freezing and restrictions on my primary bank accountmy essential financial lifelineresulting in severe, direct financial harm and personal hardship. 


-- - 1. Account Restrictions During the COVID-19 Pandemic Between XXXX and XXXX, when access to funds was vital for basic survival, Bank of Americas refusal or inability to resolve the IRP dispute caused my account to be frozen or restricted multiple times. This resulted in : Denial of access to funds necessary for rent, utilities, medical expenses, food, and family support. 

Missed payments and consequential loss of personal property. 

Extreme financial instability during a global economic crisis. 



-- - 2. Documented Loss of Time and Income As a direct result of Bank of Americas actions : I spent over XXXX hours on calls, branch visits, identity verifications, and dispute follow-ups. 

I lost {$38000.00} in wages, calculated at my hourly rate of $ XXXX, for time taken away from work and family. 

The disruption affected my ability to generate income and maintain employment stability. 



-- - XXXX. Legal Violations by Bank of America Bank of Americas conduct violates multiple federal laws designed to protect consumers : Electronic Fund Transfer Act ( EFTA ), 15 U.S.C. 1693 et seq. & Regulation E ( 12 C.F.R. Part 1005 ) : Requires financial institutions to investigate and resolve errors within 10 business days, or 45 days in certain cases. The failure to resolve this dispute for over four years is a blatant violation. ( See 15 U.S.C. 1693f ) Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681 et seq. : Mandates accurate reporting and prompt investigation of disputed information. BoAs failure to investigate and correct erroneous information timely breaches this statute. ( See 15 U.S.C. 1681i ) Implied Covenant of Good Faith and Fair Dealing : Under common law and banking regulations, BoA owed me a duty to act fairly and resolve disputes promptly. Their extended inaction and restrictive measures violate this covenant. 

Direct Causation of Financial Harm : The legal principle of proximate cause applies here all lost wages, property damage, and financial hardship flowed directly from BoAs freezing of my account.

-- - 4. Formal Demands I request that the Consumer Financial Protection Bureau : 1. Conduct an immediate, thorough investigation into Bank of Americas handling of my IRP dispute.

2. Enforce a timeline for BoA to resolve the dispute immediately.

3. Require full reimbursement of {$38000.00} in lost wages, plus compensation for all associated financial losses and damages caused by account restrictions.

4. Hold BoA accountable for their violation of EFTA, FCRA, and the duty of good faith and fair dealing.

5. Mandate corrective action to ensure no other customer experiences similar harm.

-- - 5. Conclusion Bank of Americas prolonged failure to resolve my IRP disputeespecially during the COVID-19 pandemichas caused catastrophic financial harm, lost income, lost personal property, and significant emotional and practical hardship. Their actions constitute clear violations of federal consumer protection laws and their fiduciary duty. 

I urge the CFPB to take decisive action to rectify this injustice promptly. 

Sincerely,. XXXX XXXX XXXX

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