Consumer complaint received 2026-05-07 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement — Credit card company isn't resolving a dispute about a purchase on your statement
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA

Complaint narrative:
XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXXXXXX Claim No. : XXXX Claim No. : XXXX Bank of America Claims Resolution XXXXXXXX XXXX XXXX XXXXXXXX XXXX, TX XXXX To : Federal Trade Commission , Consumer Financial Protection Bureau , and Bank of America Claims Resolution Department Re : Formal Billing Dispute Appeal and Request for Reinvestigation of XXXX XXXX Transactions Dear Sir or Madam : I, XXXX XXXX , hereby submit this formal billing dispute appeal and request for reinvestigation regarding the above-referenced claims involving transactions processed by XXXX XXXX. I respectfully request that Bank of America immediately reopen and thoroughly investigate the disputed transactions pursuant to the protections afforded under the Truth in Lending Act ( TILA ), the Fair Credit Billing Act ( FCBA ), Regulation Z, and all other applicable federal consumer protection laws and regulations. On or about XX/XX/year>, the following charges were processed by XXXX XXXX for purported algorithmic trading software and automated trading services : XXXX XXXX {$2400.00} XXXX XXXX {$2400.00} Total Disputed Amount : {$4900.00} The merchant represented that it would provide functional algorithmic trading software and automated trading system services. However, the software and related services delivered were materially defective, nonfunctional, and failed to perform in accordance with the merchants advertising materials, sales representations, and contractual promises. As a result, the products and services purchased were not delivered as agreed. Pursuant to the Fair Credit Billing Act, as implemented through Regulation Z, card issuers are legally obligated to investigate billing disputes involving goods or services not accepted by the consumer or not delivered as agreed. Specifically, 12 C.F.R. 1026.13 ( a ) provides protections where transactions involve goods or services that are materially deficient, defective, or not delivered in accordance with the merchants representations. The disputed transactions constitute billing errors because the merchant failed to provide the promised software system and related services in a functional, merchantable, and usable condition. Accordingly, Bank of America has a legal obligation to conduct a reasonable, comprehensive, and good-faith investigation into these disputed transactions. Additionally, pursuant to 12 C.F.R. 1026.12 ( c ), consumers are entitled to assert claims and defenses against the card issuer arising from credit card transactions where the consumer has made a good-faith effort to resolve the dispute directly with the merchant. The disputed amount substantially exceeds the statutory threshold required under applicable federal law. Federal law further requires that, upon receipt of a timely written billing dispute notice, the card issuer must : Acknowledge the dispute within thirty ( 30 ) days ; Conduct a reasonable and thorough investigation into the disputed transactions ; Resolve the dispute within two complete billing cycles, not exceeding ninety ( 90 ) days ; and Credit the consumers account if the investigation confirms that a billing error occurred. Because the products and services were materially defective and not delivered as represented, I respectfully request that Bank of America : Immediately reopen Claim No. XXXX and Claim No. XXXX ; Conduct a renewed, comprehensive, and good-faith investigation into the XXXX XXXX transactions ; Reverse and credit the disputed charges totaling {$4900.00} ; and Provide written confirmation regarding the status and outcome of the reinvestigation. This correspondence is submitted in good faith and in support of my rights under applicable federal consumer protection statutes and regulations. Nothing contained herein shall be construed as a waiver of any rights, remedies, claims, or protections available to me under federal or state law. Thank you for your prompt attention to this matter. I respectfully request written confirmation acknowledging receipt of this appeal and advising me of the next steps in the investigation process. Sincerely, 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