Consumer complaint received 2025-03-20 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem using a debit or ATM card
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: AZ

Complaint narrative:
Dear Consumer Financial Protection Bureau ( CFPB ), I am filing a formal complaint regarding Bank of Americas refusal to reimburse fraudulent transactions on my account, despite clear evidence that I was deceived into sending funds as part of a cryptocurrency scam.

Background of the Fraud On XXXX XXXX XXXX XXXX  was fraudulently manipulated into purchasing and transferring Bitcoin under false pretenses. The scammers posed as a legitimate company offering a remote work opportunity, directing me to send Bitcoin under the guise of completing tasks for commissions. Once my funds were transferred, they withheld payments, requested additional deposits, and ultimately disappeared.

The scam involved six transactions totaling {$1700.00}, conducted through XXXX XXXX, using my Bank of America debit card. Each transaction was made under false pretense, with the scammer coercing me into sending payments. 

Bank of Americas Denial of My Fraud Claim I reported the fraudulent transactions to Bank of Americas fraud department, providing detailed evidence including : Transaction receipts Correspondence with scammers Blockchain records ( TXID, wallet addresses ) Reports filed with law enforcement & regulatory agencies Despite this, Bank of America denied my fraud claim, stating that I authorized the transactions. However, under the Electronic Funds Transfer Act ( EFTA ), unauthorized or fraudulent transactions must be protected, even if the consumer was misled into making them.

Relevant Consumer Protections ( EFTA & Regulation E ) Under Regulation E of the Electronic Funds Transfer Act ( 15 U.S.C. 1693 et seq. ), banks are required to : Investigate and resolve disputes involving fraudulent electronic transfers.

Provide provisional credit if a dispute investigation is ongoing beyond 10 business days.

Reimburse customers for fraudulent transactions if the consumer was misled into an unauthorized payment.

This scam involved coercion, misrepresentation, and fraud, rendering these transactions unauthorized. Bank of Americas refusal to reimburse me is a direct violation of consumer protection laws.

Request for CFPB Assistance I am requesting that the CFPB intervene to : Reopen my fraud claim with Bank of America.

Require a thorough investigation into these fraudulent transactions.

Hold Bank of America accountable for violating consumer protection laws.

I have also reported this fraud to : FBI IC3 Internet Crime Complaint Center Federal Trade Commission ( FTC ) Report Fraud Here Arizona Attorney Generals Office File ComplainXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Bank Involved : Bank of America Crypto Platform Used : XXXX XXXX XXXX appreciate the CFPBs prompt attention to this matter and look forward to your assistance in ensuring Bank of America upholds its responsibility to protect consumers against fraud. Please let me know if further documentation is required.

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