Consumer complaint received 2025-02-09 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TX

Complaint narrative:
Bank of America has violated section 229.10 ( c ) of Regulation CC that defines the types of check deposits that are allowed by Regulation CC for next-day availability and if checks do not meet those criteria must be put on Hold for proper verification and clearance to ensure safeguards for protection of customers as well as risk aversion for the bank itself. On XX/XX/XXXX, Bank of America took ATM deposit of a large check deposit from me and the check did not meet any criteria defined in section 229.10 ( c ) as check deposits suitable for next-day availability and therefore had to be put on hold for proper verification and clearance ; however, Bank of America did not perform its duty to comply to section 229.10 ( c ) and intentionally made the fund available to me on the next day morning of XX/XX/XXXX and I fell the setup, made wire transfers and sent fund to a scammer for who this check was intended. 

Here is the link for this section XXXX XXXX XXXX 

More details are below. 

During the period mid XXXX through early XX/XX/XXXX, I fell victim of an online romance scam with an American woman named XXXX XXXX XXXX ( aka XXXX XXXX ) with XXXX XXXXXXXX XXXX XXXX XXXXXXXX, and her XXXXXXXX XXXX XXXX number was XXXX. In XXXX, the woman asked me to provide my name and address so that her late fathers business associate would send me XXXX checks and she asked me to help deposit the checks in ATM machine at Bank of America branch and send the fund via Bitcoin to her so she can pay XXXX XXXX  tax liabilities. She was at the time in XXXX, XXXX, and she shared documents from XXXX XXXX XXXX XXXX ( XXXX ) that she agreed to pay XXXX XXXX liability in exchange for her US passport to be returned to her by XXXX  authority and she can travel back to US. 

At XXXXXXXX XXXX XXXXXXXX on XX/XX/XXXX, at the ATM of Bank of America XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX, I deposited the first check I received from the womans late fathers business associate with a large amount {$89000.00} that was made payable to my name ( and my address ) by XXXX XXXX XXXX ( address XXXX XXXX XXXX, XXXXXXXX XXXX XXXXXXXX XXXX. The check was sent to me via USPS Priority mail from a business sender named XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. The person who sent the check, I was told, is XXXX XXXX ( white man ), phone # XXXX. 

The check I deposited does not meet any criteria defined to be safe and low risk and suitable for next day availability per criteria mentioned in section 229.10 ( c ) of Regulation CC. The content of this section is quote below. Bank of America was responsible to comply with regulation CC in general and section 229.10 ( c ) specifically to put a hold on this check long enough to ensure proper verification and safeguards against risks, as well as to ensure to have proper protection measures to protect customer against potential fraud and scam ; however, Bank of America did not perform that duty and intentionally made the fund available next day on the morning of XX/XX/XXXX. 
The woman scammer and the check sender scammer then immediate asked me to do wire transfer of the funds to my XXXX XXXX XXXX XXXX  and then bought Bitcoin and sent to the womans bitcoin wallet address ; I did that and I did not know, at the time, the woman was a scammer and nor did I suspect the check sender was a scammer. 
Bank of America failed to comply to requirements of Regulation CC, section 229.10 ( c ), which requires that check deposit to be put on hold for safeguard verification and risk aversion as well as protection for customer. As the result of Bank of Americas failure to comply to regulation CC section 229.10 ( c ), a loss of around {$82000.00} occurred and on XX/XX/XXXX, Bank of America reversed the transaction and seized my {$14000.00} fund in my bank account ; furthermore, on XX/XX/XXXX, the bank continued to sieve another {$5200.00} from my pay salary deposit. The bank further immediately closed my bank account, disabling me from being able to make any bill pay obligations in early XX/XX/XXXX for water bill, electricity bill, gas bill, phone bill, internet bill, and mortgage payment, etc. Due to this problem, I had to elect to retire from my job in emergency situation with XXXX weeks notice in order to access my XXXX retirement fund to meet bill payment obligations for XXXX and forward with my XXXX XXXX account. 

The check deposit from me on XX/XX/XXXX did not meet any criteria defined in section 229.10 ( c ) of Regulation CC and therefore the bank ought to comply with the regulation and had to put a hold on it ; the bank did not do that duty and therefore violated regulation CC section 229.10 ( c ) and created severe impact and damages to the customer when the bank closed my bank account and seized my fund. 

Furthermore, the bank sent me a letter dated XX/XX/XXXX stating that the check was returned with NSF status. I doubt this because I received a second check from the check scammer and this time a different name on the check but the check looks obviously fake with the way the printing appears. So I believe the check I deposited on XX/XX/XXXX was also a fake check, with fake business name that does not exist ; I have the second check in possession as evidence it is a fake check. I did meet the local police office who I reported the scam locally and showed the check ; we both went to the bank and show to bank representative that check and discussed the problem and I requested the bank to return my fund. 

Bank of America was responsible to comply to Regulation CC section 229.10 ( c ) to put the check deposit on hold for proper verification and clearance to protect both the bank and the customer from the risk of being victim of scammer and fraudulent individuals, but the bank did not do it right, and failed to comply to Regulation CC section 229.10 ( c ).

-- -QUOTE Regulation CC section 229.10 ( c ) Subpart BAvailability of Funds and Disclosure of Funds Availability Policies 229.10 Next-day availability. 
XXXX XXXX XXXX to an amendment published at XXXX XXXX XXXX, XX/XX/XXXX. 
( a ) Cash deposits. 
( 1 ) A bank shall make funds deposited in an account by cash available for withdrawal not later than the business day after the banking day on which the cash is deposited, if the deposit is made in person to an employee of the depositary bank.

( 2 ) A bank shall make funds deposited in an account by cash available for withdrawal not later than the second business day after the banking day on which the cash is deposited, if the deposit is not made in person to an employee of the depositary bank.

( b ) Electronic payments ( 1 ) In general. A bank shall make funds received for deposit in an account by an electronic payment available for withdrawal not later than the business day after the banking day on which the bank received the electronic payment.

( 2 ) When an electronic payment is received. An electronic payment is received when the bank receiving the payment has received both ( i ) Payment in actually and finally collected funds ; and ( ii ) Information on the account and amount to be credited.

A bank receives an electronic payment only to the extent that the bank has received payment in actually and finally collected funds.

( c ) Certain check deposits ( 1 ) General rule. A depositary bank shall make funds deposited in an account by check available for withdrawal not later than the business day after the banking day on which the funds are deposited, in the case of ( i ) A check drawn on the Treasury of the United States and deposited in an account held by a payee of the check ; ( ii ) A U.S. Postal Service money order deposited ( A ) In an account held by a payee of the money order ; and ( B ) In person to an employee of the depositary bank.

( iii ) A check drawn on a Federal Reserve Bank or XXXX XXXX XXXX XXXX  and deposited ( A ) In an account held by a payee of the check ; and ( B ) In person to an employee of the depositary bank ; ( iv ) A check drawn by a state or a unit of general local government and deposited ( A ) In an account held by a payee of the check ; ( B ) In a depositary bank located in the state that issued the check, or the same state as the unit of general local government that issued the check ; ( C ) In person to an employee of the depositary bank ; and ( D ) With a special deposit slip or deposit envelope, if such slip or envelope is required by the depositary bank under paragraph ( c ) ( 3 ) of this section.

( v ) A cashier 's, certified, or teller 's check deposited ( A ) In an account held by a payee of the check ; ( B ) In person to an employee of the depositary bank ; and ( C ) With a special deposit slip or deposit envelope, if such slip or envelope is required b
y the depositary bank under paragraph ( c ) ( 3 ) of this section.

( vi ) A check deposited in a branch of the depositary bank and drawn on the same or another branch of the same bank if both branches are located in the same state or the same check processing region ; and, ( vii ) The lesser of ( A ) {$220.00}, or ( B ) The aggregate amount deposited on any one banking day to all accounts of the customer by check or checks not subject to next-day availability under paragraphs ( c ) ( 1 ) ( i ) through ( vi ) of this section.

( 2 ) Checks not deposited in person. A depositary bank shall make funds deposited in an account by check or checks available for withdrawal not later than the second business day after the banking day on which funds are deposited, in the case of a check deposit described in and that meets the requirements of paragraphs ( c ) ( 1 ) ( ii ), ( iii ), ( iv ), and ( v ), of this section, except that it is not deposited in person to an employee of the depositary bank.

( 3 ) Special deposit slip.

( i ) As a condition to making the funds available for withdrawal in accordance with this section, a depositary bank may require that a state or local government check or a cashier 's, certified, or teller 's check be deposited with a special deposit slip or deposit envelope that identifies the type of check.

( ii ) If a depositary bank requires the use of a special deposit slip or deposit envelope, the bank must either provide the special deposit slip or deposit envelope to its customers or inform its customers how the slip or envelope may be prepared or obtained and make the slip or envelope reasonably available. 
XXXX XXXX XXXX XXXXXXXX, XX/XX/XXXX, as amended at XXXX XXXX XXXX, XX/XX/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