Consumer complaint received 2024-09-06 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: CA

Complaint narrative:
I am writing to formally address a series of highly distressing and disruptive issues stemming from the abrupt closure of my bank account and credit card, account at Bank of America, specifically related to closure of bank account and credit card ending XXXX on XXXX XXXX, 2024, and despite numerous attempts to resolve this through your customer support, my concerns remain unaddressed. This decision by Bank of America has not only inflicted significant financial injury but has also placed me in an extremely precarious situation during a critical phase of a high-priority construction project. 

During a critical phase, I found myself XXXX XXXX in fulfilling basic operational needs such as purchasing gas, due to the unexpected closure of my account. The timing could not have been worse, and the lack of any prior communication from your side intensified the inconvenience. 

Moreover, the investigation that led to the closure of my account seemed to be handled with a great deal of skepticism, lacking transparency and fairness. This action coincidentally followed my purchase of a necessary computer for work, which I was forced to pay for twice because of the disruptions caused by the closure of my credit facilities. 

This entire ordeal has not only left me stranded but also XXXX  and demoralized as I had to resort to borrowing money under humiliating circumstances. Additionally, I have been unable to cover crucial XXXX  bills due to my state-mandated XXXX, exacerbating my financial and emotional strain. 

The unexpected termination of my banking facilities left me without the means to purchase essential items such as gas, severely hindering my ability to fulfill my professional responsibilities. Moreover, this occurred without any prior notification, amplifying the disruption to my activities and well-being. 
This complaint pertains to potential violations of the Truth in Lending Act ( TILA ), which mandates clear disclosure of all lending terms, and the Equal Credit Opportunity Act ( ECOA ), which prohibits discrimination in any credit transaction. The handling of my account may also violate the Electronic Fund Transfer Act ( EFTA ), which protects electronic transactions and mandates proper error resolution processes. 

The investigation that precipitated the closure of my accounts appeared highly skeptical and lacked both transparency and fairness, especially troubling as it followed closely on the heels of necessary business-related purchases, including a computer for worknecessitating a duplicate purchase due to the disruptions caused. 

Additionally, this closure has exacerbated my already precarious financial situation, as I am currently under state-mandated XXXX. I have been diagnosed with XXXX XXXX XXXX XXXX XXXX XXXX XXXX that significantly limit my XXXX  capabilities, as confirmed by my physician. My condition severely restricts my ability to perform regular work, and the financial strain from being unable to manage my XXXX  expenses due to the account closure is overwhelming. 


I urge Bank of America to address this matter with the urgency and seriousness it warrants. I trust in your commitment to customer satisfaction and expect a prompt and fair resolution that reflects an understanding of the hardships imposed on me and rectifies the significant detriment caused.

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