Consumer complaint received 2026-03-04 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA

Complaint narrative:
Bank took money from my account without authorization Company : Bank of America , N.A . Amount in dispute : {$17000.00} COMPLAINT NARRATIVE : On or about XXXX XXXX XXXX, Bank of America seized {$17000.00} from my personal consumer savings account without my authorization, consent, or prior written notice. The transaction appeared on my account as BANK INITIATED OFFSET-PENDING DEBIT-HOLD. This XXXX reduced my available balance from approximately {$2900.00} to {$6.00}. The Bank executed this setoff to satisfy a delinquent balance on a business XXXX credit card account issued to my XXXX, XXXX XXXX XXXX. The Bank seized funds from my personal savings account to pay a XXXX credit card debt. This action violates federal and California law in multiple ways : 1. TILA Violation : The Truth in Lending Act ( 15 U.S.C. 1666h ) and Regulation Z ( 12 C.F.R. 1026.12 ( d ) ) prohibit a card issuer from offsetting credit card indebtedness against a cardholders deposit account. Bank of Americas own deposit agreement states setoff does not apply to consumer credit card obligations. XXXX. California Financial Code 1411 Violation : California law requires banks to provide written notice, a dispute response form, and a XXXX-day dispute period before executing a setoff. The Bank provided none of these. California law also prohibits reducing a demand deposit account below {$1000.00} via setoff the Bank left me with {$6.00}. XXXX. XXXX XXXX During XXXX Negotiations : In XX/XX/year>, I proactively contacted Bank of America to report XXXX XXXX ( unemployment, XXXX income ) and request a payment arrangement on the business card. The Bank acknowledged this. Instead of completing the XXXX process, the Bank seized my last funds, rendering me unable to pay rent, buy food, or re-establish my business. I face homelessness within XXXX days. XXXX. UDAAP Violation : Seizing a known-hardship customers last remaining funds from a personal account to satisfy a business credit card debt while that customer is actively seeking a payment arrangement constitutes an unfair, deceptive, and abusive practice under 12 U.S.C. 5531. The Bank took unreasonable advantage of my inability to protect my interests. DESIRED RESOLUTION : Immediate reversal of the {$17000.00} setoff ; restoration of all funds to my personal savings account ; reversal of all consequential fees ; written confirmation that the Bank will not repeat this action ; and regulatory investigation into Bank of Americas setoff practices against consumer deposit accounts for business credit card debts. SUPPORTING DOCUMENTATION : I have account statements showing the unauthorized XXXX, documentation of my XX/XX/year> XXXX contact with the Bank, and XXXX XXXX XXXX formation documents proving the credit card is a XXXX XXXX debt.I 'm

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