Consumer complaint received 2022-08-24 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Banking errors
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA

Complaint narrative:
FROM : XXXX XXXX XXXX XXXX XXXX XXXX. 
XXXX XXXX, CA. XXXX ( XXXX ) XXXX XX/XX/XXXX TO : Consumer Financial Protection Bureau ( New Complaint ) RE : Bank of America Error Resolution Failures Resulting in Monetary Loss, Fiduciary Duty Failures, -Possible Defamation Claim against BOA Management @ Branch Account number XXXX XXXX XXXX XXXX XXXX XXXX XXXX and XXXX XXXX XXXX. 
Account number XXXX XXXX XXXX XXXX Savings My dad is the sole proprietor of XXXX XXXX XXXX XXXX XXXX in XXXX XXXX, XXXX, and has been banking with BOA since XXXX. The business account ( Acct. # XXXX ) had fraudulent transactions take place when large amounts of money were transferred out of the business account into my personal savings account ( Acct. # XXXX ) on three separate occasions. The transactions were not authorized. Upon discovering the fraud, we took the appropriate steps to resolve the matter with BOA. These were large transactions on different dates ( XX/XX/XXXX, {$30000.00}, XX/XX/XXXX, {$3000.00} XXXX, XX/XX/XXXX, {$26000.00} ), and according to the printout we were given by BOA, they were agent assisted. 

When BOA began their investigation, I was under the impression that the money was going to be returned to the business account, where it came out of to begin with, and in fact was told by BOA personnel that once the investigation completed that the account would be credited. Well, the investigation commenced, and the applicable information was exchanged between the bank and us, and next thing I know I received notices that the claim was resolved in my favor. Here is where the problem lies. As much as I mentioned to each of the BOA representatives, I was in contact with during this ordeal that the business account was the victim and my savings account was not, my savings account was credited the stolen money and not the business account. I continued trying to get that point across to BOA, even asking them how I could transfer it back myself, but they left me under the impression that I couldnt do that, so me and my dad decided to go down to the branch and speak with someone in person with autonomy to make sure that we were all on the same page and that the business account would be credited. That did not happen despite being told by seemingly competent personnel of BOA 's that it would. 

Upon arriving we identified ourselves and were asked why we didnt make an appointment before just assuming they could see us. We apologized, explaining that weve never needed to make one, we were always treated very well there and didnt think we needed to, after all, our relationship with this bank has spanned decades and the relationships created during all these years have felt like family. At any rate, the branch manager was a bit rude to me, but I didnt put too much thought into it and she and my dad began speaking privately about the situation, which was fine with me, even though I am an authorized agent of the account. Well, the bottom line is this : the branch manager told my father that she was speaking on behalf of, and it was the opinion of BOA and herself, that I am the one who fraudulently transferred the money from the business account and that I stole the money from my dad.

Well, the notion is ridiculous to begin with, but this womans unprofessionalism only increased over the next half hour after my dad told her that he wanted to close the account and be given the balance remaining in the account either in cash or transferred into another account at another bank. The reason for this is because my dad explained to this woman that he didnt believe that I would steal his money, and felt she was out of line making such a defamatory accusation in the branch with other customers in ear shot. When she insisted that I was a thief, my dad told her to close the account. My dad told me what was going on, and I was just so insulted that I was speechless. This woman doesnt even know me and for her to say such a thing about me not only offends me, but it could cause me, and the business economic harm should anyone take what she said to XXXX. We live in a small town and our ancestors homesteaded our land and we have footprints here that go way back, and my point is that we know many people and if this matter isn't remedied in our favor as it should be anyway, we intend to let our friends and fellow business owners in the community just how we have been treated by BOA ; if anything else, to make certain that what the branch manager accused me of is defended. 

The complaint isnt really about this womans behavior or her lack of professionalism, although the more I think about it, the closer I get to deciding to hire an attorney to bring a civil action for defamation ; the purpose is to get the money transferred back into the business account where is should have been placed at the completion of the investigation. Unfortunately, because BOA refused to transfer it or tell me how to, it was then restricted while it was in my personal account due to a child support order BOA received on XX/XX/XXXX, XXXX then XXXX was seized out of the account. This is unspeakably frustrating given the promise by them that this situation would not happen. I contacted BOA, asking them to help, but they said they could do nothing. This order was sent to them in XXXX and so I reminded personnel that since XXXX I was told that the money would be taken out of my savings account and put back into the business account. Why that never happened is puzzling, but the money is now seized and was never put back into the account it was originally taken out of despite my efforts. BOA has offered no means to remedy it and states there is nothing they can do. 

I have spoken to the following BOA personnel regarding this result in random order : XXXX @ XXXX, XXXX XX/XX/XXXX XXXX, XXXX (? ) - XX/XX/XXXX XXXX, BOA ACH XXXX Texas, XX/XX/XXXX XXXX, XX/XX/XXXX on hold XXXX m, XXXX, Fraud Division-XXXX XXXXXXXX XXXX, XXXX, XXXX XXXX XXXX XXXX yet nobody was able to resolve this or provide me any information on how to resolve it. Those conversations have come to be lessons in futility as the money is gone, and my dads business account suffered the loss of all that money, and BOA should have handled that situation differently, and the business account should fall under the same protections as my savings account, and that money should never have been put into the savings account, and BOA is responsible for and has a fiduciary duty regarding laws on senior consumers and we feel that they should credit the money seized from my savings back into my dads business account. It was never my money to begin with, and shouldnt have been in my account at all, and BOA was questioned about this numerous times throughout the investigation process yet failed to follow the resolution procedures using the business account. This is their fault, and by telling us there is nothing they can do is unfair, and I believe violates federal law as the bank has a fiduciary duty to protect me and my father as we are senior consumers. The branch manager had us escorted off the property and insisted we were cited for trespass, and we were ... AFTER BANKING WITH BOA SINCE XXXX? What? 
We are reasserting our fraud claim on the amount seized which is {$21000.00}, along with any applicable interest for the business account ( Acct. # XXXX ) and ask that all error resolution procedures and our rights as consumers be followed as applicable by federal law. by BOA in correcting the proper account the money that is now gone. We have tried to resolve this matter ourselves with several BOA superiors, however we were unsuccessful and that is why we are now involving the CFPB. We ask that BOA correct this matter promptly, and should we not be able to come to a resolution that both parties agree is fair, we plan to retain legal counsel to assist us. We hope after all the years weve been partnered with BOA ; they will do the right thing. We have not done anything at all with the account since leaving the bank that day as a show of good faith that BOA will address the manager 's unprofessionalism and correcting the errors appropriately. We look forward to moving on from this and resuming our banking experience with BOA, however, should this not be remedied, we intend to close the account permanently. 

The claim numbers applicable to the accounts named herein are XXXX XXXX XXXX. 

Yours Faithfully, XXXX XXXX XXXX cc. 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 explanation