Consumer complaint received 2024-10-03 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: FL

Complaint narrative:
Dear Sir/Madam, I am writing to bring to your attention a concerning issue regarding the handling of my claim for non-receipt of goods with Bank of America XXXX On XX/XX/year>, I filed a claim ( Claim ID : XXXX ) for {$2100.00} due to the non-delivery of goods. Despite several months of waiting, I have yet to receive a satisfactory resolution or a refund. 

At the outset of my claim, I was informed that I would receive a temporary credit for the disputed amount. Subsequently, I was told that I would need to wait 45 days for my claim to be processed. However, this period was then extended to 90 days without any clear explanation. After this extended period, I was informed that I would need to wait for a response from XXXX, without being provided with any clear details on the status of my claim. 

I would like to emphasize that the handling of this claim has been marked by a severe lack of professionalism and support from Bank of America. I have received contradictory information from various customer service representatives, and no tangible assistance has been provided to resolve my issue. This behavior appears to contradict the bank 's obligations toward its clients concerning claims processing, as outlined in Florida law and banking regulations. 

Furthermore, the handling of my claim seems to be in direct conflict with the requirements set forth by Regulation XXXX of the Federal Reserve, which governs electronic funds transfers and mandates that financial institutions investigate and resolve customer claims within specified timeframes. Under this regulation, banks are required to issue a temporary credit within XXXX business days of receiving notice of an error and complete their investigation within 45 days. If the investigation takes longer, an extension is possible, but the customer must be adequately informed of the status of their claim. 

Additionally, I would like to remind you that Bank of America 's practices may be subject to the Florida Deceptive and Unfair Trade Practices Act ( FDUTPA ), which protects consumers from unfair and deceptive business practices. The lack of transparency and contradictory information provided by Bank of America may constitute a violation of this act.

I am therefore requesting your assistance in recovering the {$2100.00} that is owed to me. I also ask that Bank of America be held accountable to its legal and regulatory obligations concerning the timely processing and resolution of claims, as stipulated by Florida law. 

I would be grateful for your intervention to ensure that this matter is resolved as quickly as possible, and I kindly request clarification on the available legal recourse to enforce my rights in this case. 

Thank you in advance for your help, and I look forward to your prompt response. 

Sincerely, XXXX 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 monetary relief