Consumer complaint received 2025-06-05 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Credit denial
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA

Complaint narrative:
On XX/XX/year>, I contacted Bank of America and spoke with a loan officer to inquire about a recent credit denial. During our conversation, I was informed that the primary reason for the denial was my credit profile. No specific counteroffer, written explanation, or reasonable alternative was presented to assist me in securing credit. I was left with no actionable next steps or options for remedy, which effectively denied me the right to contract and participate in commerce. 

This is concerning because under 15 U.S. Code 1691 ( Equal Credit Opportunity Act ), creditors are prohibited from engaging in any practice that discourages or denies a credit application without proper explanation, especially if no efforts are made to consider alternative terms that could enable the consumer to perform.

Additionally, the Fair Credit Reporting Act ( 15 U.S. Code 1681m ) requires that any user of a credit report who takes adverse action must notify the consumer and provide the specific reasons for the denial. In my case, the explanation was vague and did not offer enough information for me to address or correct any alleged deficiencies. 

Legal Tender, Negotiable Instruments, and Contract Rights Under Uniform Commercial Code ( UCC ) 3-104, a promissory note is considered a negotiable instrument, which represents a legitimate promise to pay and can be used to discharge debt. Furthermore, UCC 1-201 ( b ) ( 24 ) defines money as a medium of exchange authorized or adopted by a government. If my promise to pay is not being honored, or considered insufficient for initiating credit, this raises serious concerns regarding my legal capacity to contract, a right recognized under both UCC Article 3 and fundamental contract law principles.

The failure to treat this promise of future repayment as worthy of consideration potentially violates UCC 1-304, which obligates all parties to act in good faith and fair dealing in both the formation and enforcement of contracts. 

Denial of Access to Remedy When I attempted to escalate the matter to Bank of Americas legal department, I was told they do not speak to clients. This blanket refusal to engage creates a structural barrier that deprives consumers of access to remedy and clarification, which contradicts the spirit of due process, and possibly violates 12 CFR 1002.9, which mandates proper procedures for responding to adverse credit decisions. 

When I asked the representative whether he was a licensed attorney ( since he asserted that the bank was following all federal procedures ), I was met with hostility and sarcasm. His behavior was not only unprofessional but underscored a broader issue : there was no real intent to assist or resolve my concern. 

Why This Matters By failing to : Provide a specific reason for denial ( 15 U.S.C. 1681m ), Offer alternative options ( 15 U.S.C. 1691 ), Honor my right to contract and use of negotiable instruments ( UCC 3-104, 1-304 ), And refusing access to the legal department for resolution, Bank of America effectively placed me in a financially incapacitated position, restricting my access to credit and undermining my ability to maintain the means to support life, liberty, and property as guaranteed by the U.S. Constitution and federal commercial law.

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