Consumer complaint received 2024-10-19 00:00:00
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
State: NM

Complaint narrative:
COMPLAINT Plaintiff, XXXX XXXX XXXX, by and through the undersigned attorney, hereby files this Complaint against Defendant Bank of America, and alleges as follows : JURISDICTION AND VENUE This action arises under the Truth in Lending Act ( TILA ), 15 U.S.C. 1601 et seq., and the Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681 et seq..

This Court has jurisdiction pursuant to 28 U.S.C. 1331.

Venue is proper in this judicial district pursuant to 28 U.S.C. 1391 ( b ), as the Defendant conducts business in this district and a substantial part of the events giving rise to the claims occurred within this district. 
PARTIES Plaintiff : XXXX XXXX XXXX, a consumer residing at XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX, NM XXXX, born XX/XX/XXXX. 
Defendant : Bank of America is a financial institution providing consumer credit and loans located at XXXX XXXX XXXX, XXXX XXXX, TX XXXX. 
XXXX XXXX On or about XX/XX/XXXX, Plaintiff entered into a credit transaction with Defendant for the purpose of obtaining financing for [ purpose of loan, e.g., secured credit card or mortgage ]. The loan was governed by 15 U.S.C. 1635 ( TILA ).

Defendant failed to provide Plaintiff with the required disclosures under TILA, including information about Plaintiffs right to rescind the transaction. 
On or about XX/XX/XXXX, Plaintiff sent written notice to Defendant, seeking to rescind the transaction pursuant to 15 U.S.C. 1635 ( a ).

Despite receiving timely notice of rescission, Defendant refused to honor the rescission, in violation of TILA.

As a result of Defendants failure to comply, Plaintiff is entitled to rescind the transaction and seeks declaratory relief and damages for Defendants non-compliance with TILA.

INACCURATE REPORTING Defendant inaccurately reported Plaintiffs payment history to credit reporting agencies, including [ specific reporting agencies, e.g., XXXX, XXXX, and XXXX ], reflecting charge-offs and delinquencies that did not accurately represent Plaintiffs payment history. 
Plaintiff disputed the inaccurate reporting with the credit reporting agencies, and despite these disputes, Defendant failed to correct the inaccuracies, in violation of the Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681.

As a result of Defendants inaccurate reporting, Plaintiff has suffered harm, including damage to her credit score, financial loss, and emotional distress.

CLAIMS FOR RELIEF COUNT 1 : VIOLATION OF THE TRUTH IN LENDING ACT ( TILA ), 15 U.S.C. 1635 Plaintiff realleges and incorporates by reference the preceding paragraphs.

Defendant failed to provide the required disclosures under TILA, specifically regarding Plaintiffs right to rescind the transaction.

Plaintiff exercised the right to rescind by sending written notice within the statutory time period.

Defendants refusal to honor the rescission constitutes a violation of 15 U.S.C. 1635.

Plaintiff seeks rescission of the loan and return of all payments made, along with statutory damages, attorneys fees, and costs.

COUNT 2 : VIOLATION OF THE FAIR CREDIT REPORTING ACT ( FCRA ), 15 U.S.C. 1681 Plaintiff realleges and incorporates by reference the preceding paragraphs. 
Defendant reported inaccurate payment information to credit reporting agencies, causing harm to Plaintiffs credit score and financial standing.

Despite Plaintiffs dispute of these inaccuracies, Defendant failed to conduct a reasonable investigation or correct the reported information, in violation of FCRA, specifically 15 U.S.C. 1681i.

Plaintiff seeks damages for harm caused by the inaccurate reporting, including compensation for emotional distress, lost opportunities, and attorneys fees.

PRAYER FOR RELIEF WHEREFORE, Plaintiff prays for judgment against Defendant as follows : Rescission of the credit transaction under 15 U.S.C. 1635 ; Statutory damages and costs under TILA and FCRA ; An order requiring Defendant to correct the inaccurate information reported to credit reporting agencies ; Compensation for Plaintiffs emotional distress and financial damages ; Attorneys fees and costs ; Any other relief the Court deems just and proper.

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