Consumer complaint received 2025-12-31 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: WA

Complaint narrative:
To Whom It May Concern, I am submitting this letter as a formal complaint regarding serious financial misconduct by Bank of America involving the wrongful reversal of cleared funds, prolonged misrepresentation, bad-faith delay, and unlawful seizure of account assets. 

In XX/XX/XXXX, a check issued by a legitimate foreclosure and property acquisition company in XXXX  was deposited into our Bank of America account. This check represented proceeds from a real estate transaction in which the company purchased property we sold. Bank of America accepted, cleared, and finalized this check of over {$330000.00}. 

Only after we attempted to withdraw funds did Bank of America reverse the transaction. Despite the reversal, the bank kept the account open and repeatedly told us that the real estate proceeds were legitimate, belonged to us, and would be returned. From XX/XX/XXXX throughout the remainder of XXXX, we were continuously given shifting timelinesXXXX, then XXXX, then XXXX XXXX of which passed without resolution. At no point during XXXX did Bank of America claim the check was fraudulent. 

During this same period, Bank of America continued to accept additional deposits, allowed unrestricted debit card use, and permitted substantial spending, including travel. The bank remained in communication with us and repeatedly stated the XX/XX/XXXX real estate funds would be returned, reinforcing that the issue was administrative, not fraudulent. 

After we later reported unrelated fraudulent charges originating from a XXXX XXXX club, Bank of America abruptly shut down the account, seized all remaining fundstotaling hundreds of thousands of dollarsand overdrafted the account, causing severe financial harm. 

In XX/XX/XXXX, after extensive communications with Bank of America representatives, we were explicitly told the bank acknowledged its error. Multiple representatives confirmed the reversed XX/XX/XXXX real estate funds were ours, that there was no issue returning them, and that all withheld fundsincluding the XXXX real estate proceedswere approved to be returned via wire transfer. We were repeatedly told the funds were imminent and instructed to call back if not received. 

Then, suddenly, on XX/XX/XXXX, Bank of America reversed course yet again, claiming for the first time that the XX/XX/XXXX check was fraudulent. This claimmade by a district manager identified as XXXXcame nearly XXXX years after the check cleared, after months of assurances in XXXX, and after explicit acknowledgments in XX/XX/XXXX that the funds belonged to us. 

This pattern reflects deliberate delay, misrepresentation, and bad faith. We also raise concerns of discriminatory treatment. We have a long, documented history of maintaining substantial balances with Bank of America from real estate transactions, stock trading, and legitimate business activity dating back to XXXX. We are not new to high-value banking activity. 

We demand immediate release of all wrongfully withheld funds, written documentation supporting the banks actions, and compensation for damages incurred. Absent prompt resolution, we are prepared to pursue regulatory enforcement, civil litigation, and all available remedies. 

This letter serves as formal notice. We expect immediate contact. 

This was also submitted to XXXX State Attorney General office ( XX/XX/XXXX ). 

Sincerely, 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