Consumer complaint received 2024-12-13 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL

Complaint narrative:
I am writing to formally file a complaint against Bank of America ( BOA ) regarding the denial of my dispute for fraudulent ATM withdrawals totaling {$4000.00} ( XXXX separate withdrawals of {$2000.00} each ) from my account during the XXXX weekend.

Despite providing all required documentation, including a police report confirming that my debit card, Social Security Number, and ID were stolen and used without my authorization, BOA has unjustly denied my dispute. The bank has not only failed to resolve this matter but has also ignored my repeated requests for reimbursement, causing significant financial hardship. 

Incident Details : Date of Fraudulent Transactions : XXXX weekend ( exact dates : [ insert dates if possible ] ) Amount Stolen : {$4000.00} ( {$2000.00} withdrawn twice from an ATM ) Bank of Americas Response : Despite providing documentation of the theft and the police report, BOA has denied my dispute without justification. They initially promised to credit my account while investigating but have failed to follow through. 
As a result of the bank 's failure to reimburse these funds, I am facing critical financial difficulties. My rent is now overdue, and I am at risk of additional fees, late payments, and damage to my credit. Furthermore, the delay in resolving this issue has placed me in a vulnerable position, impacting my day-to-day living. 

Legal Context : The actions of Bank of America appear to be in violation of the Electronic Fund Transfer Act ( EFTA ) and Regulation E ( 12 C.F.R. Part 1005 ), which govern the handling of unauthorized electronic fund transfers. Under these laws, financial institutions are required to investigate disputes within 10 business days and provisionally credit the consumers account within 1 business day if the transaction is found to be unauthorized. BOA 's failure to follow these guidelines is a clear breach of my rights as a consumer.

Request for Immediate Action : I respectfully ask that the CFPB take immediate action on the following : Investigate Bank of Americas handling of my dispute and their failure to comply with federal laws under the EFTA and Regulation E.

Require Bank of America to immediately credit my account with the {$4000.00} in stolen funds, which were taken without my consent.

Ensure BOA follows all consumer protection laws in the handling of unauthorized transactions, including providing timely resolution and proper investigation procedures.

Address any financial harm caused by BOA 's failure to reimburse the stolen funds, including late fees, missed payments, and any damage to my credit history.

Maintain my valued customer status with Bank of America. I have been a loyal customer for [ 1 ] years, and I respectfully request that this issue does not lead to any actions that would jeopardize my standing or access to banking services with BOA.

This matter is of urgent importance, and I respectfully request the CFPBs immediate intervention. The funds taken from my account are critical to my financial well-being, and the banks failure to act has caused significant distress.

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