Consumer complaint received 2025-12-16 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Other problem
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: OH

Complaint narrative:
CFPB Complaint Draft Bank of America Credit Balance Refund Delay State of Residence : Ohio Company : Bank of America Product : Credit Card Issue Type : Credit balance refund has an unreasonable post-processing delay. 
Amount Involved : {$1000.00} BOA reference number : XXXX ( XX/XX/XXXX ) COMPLAINT NARRATIVE. 

Issue Type : Credit balance refund has an unreasonable post-processing delay. 

In plain English Bank of America took my money and have not given it back. 

Here are the details. 

On XX/XX/XXXX, my Bank of America credit card account reflected a credit balance of approximately {$1500.00}. 
On that date I requested that {$1000.00} be refunded to my XXXX checking account. 
As of Monday, XX/XX/XXXX, I have still not received those funds On that date their agent ( XXXX ) opened case # XXXX and advised that their protocols treat this as a dispute which might take several weeks to resolve. No other refund mechanism was available. 

On Thursday XX/XX/XXXX, BOA sent me a letter stating that {$1000.00} would be refunded to my XXXX checking account. See Attachment A ) XXXX BOA XXXX Letter On Friday XX/XX/XXXX, BOA took my money and posted a {$1000.00} negative adjustment that initiated the refund. See Attachment XXXX  ) XXXX BOA XXXX Transactions. However, the adjustment has not been finalized and that {$1000.00} has not been delivered to any account. 

On Sunday XX/XX/XXXX their agent ( XXXX XXXX said funds would be deposited within XXXX billing cycles. The agent agreed to forward my complaints to the appropriate department, and there was no reasonable way to expedite things. 

On Thursday, XX/XX/XXXX their agent ( XXXX XXXX said funds would be deposited within 30 days of the XX/XX/XXXX letter, I said that was not consistent with Regulation Z but XXXX could not explain the discrepancy. 

ANALYSIS OF THE ABOVE FACTS Under Regulation Z ( 12 CFR 1026.11 ( a ) ( 2 ) ), which implements the Truth in Lending Act, a creditor must refund credit balancesXXXX XXXX business days of receiving a written refund request. 

In this case, Bank of America accepted my telephone refund request on XX/XX/XXXX, and assigned a BOA reference number, then issued a written confirmation on XX/XX/XXXX, and posted a refund adjustment on XX/XX/XXXX. 

As of XX/XX/XXXX more than XXXX month after my initial request and more than XXXX business days after Bank of Americas XX/XX/XXXX written confirmation the funds have still not been delivered. The continued failure to deliver the funds constitutes an unreasonable post-processing delay. 

This complaint was prepared by my husband with the permission of, and on behalf of me, the account holder. I have reviewed this content and will sign electronically. 

RESOLUTION REQUESTED I respectfully request that the CFPB contact Bank of America and require prompt delivery of the refunded funds without further delay.

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 monetary relief