Consumer complaint received 2024-05-09 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MI

Complaint narrative:
Bank of America continues to report negative remarks on my credit despite winning a court ordered judgment against Bank of America for the very issue. 

Despite winning a judgment in my favor during legal proceedings, [ XXXX XXXX : XXXX ] BOA has shamelessly continued to tarnish my credit to the XXXX reporting agencies and have not reversed the negative remarks affecting his once outstanding credit. All over an issue which the bank allowed to escalate and subsequently were found XXXX of in a court of law. 

XXXX Bank of America XXXX XXXX XXXX  XXXX has a {$0.00} balance and the funds awarded by the court for this negligence were returned to BOA to satisfy the fraud charge the institution mishandled and allowed to escalate, and were found XXXX over. 

The court found Bank of America XXXX, which means had BOA done things correctly from day XXXX there would not be a prolonged dispute and the payment would not have been withheld after XXXX months and there would have been no court case involving BOA. 

Allow me to remind you, in no uncertain terms, of the Federal Trade Commission ( FTC ) rules and guidelines. According to these regulations, should you choose to report me as XXXX  to the credit bureaus over a dispute, you are mandated to include the crucial fact that I still vehemently dispute the billing error. 

Bank of America is in violation of the law. 

Per FTC Rules : The issuer can report you to the credit bureau as delinquent. But if they do, the report must also say that you still dispute the billing error. The issuer must tell you the name and address of who gets these reports and, when your dispute is resolved, they must promptly report that to everyone who got a report. 

If an issuer doesnt follow the settlement procedure, they forfeit a portion ( up to {$50.00} ) of what theyre allowed to collect ( the disputed amount plus finance charges ), even if the bill turns out to be correct. For example, the issuer may have acknowledged your complaint in XXXX days XXXX  days too late. They may have taken more than XXXX billing cycles to resolve a dispute, or they may have threatened to report your failure to pay during the dispute period. Even if it turns out you owe the disputed amount, the issuer loses the right to collect up to {$50.00} from the amount they otherwise could collect, because they violated the law. 

The issuer can not report you as delinquent in this situation, until the dispute is settled or a court makes a judgment. 

Again, Bank of America is in violation of the law and in violation at least these following XXXX rules. 
1 ) The issuer must tell you the name and address of who gets these reports 2 ) and, when your dispute is resolved, they must promptly report that to everyone who got a report.

3 ) If an issuer doesnt follow the settlement procedure, they forfeit a portion ( up to {$50.00} ) of what theyre allowed to collect ( the disputed amount plus finance charges ) 4 ) If an issuer doesnt follow the settlement procedure, they forfeit a portion ( up to {$50.00} ) of what theyre allowed to collect ( the disputed amount plus finance charges ) 5 ) The issuer can not report you as delinquent in this situation, until the dispute is settled or a court makes a judgment.

Furthermore, a court of law determined that Bank of America was 100 % guilty and ordered to pay a judgment for the fraudulent {$8000.00} and all interest and late fees associated with this fraudulent charge in the total sum of {$11000.00}. 

The failure to comply with legal mandates to report this matter as a dispute reflects either gross incompetence or deliberate malice. Whichever the case, this situation is utterly unacceptable and needs to be corrected immediately. 

We are appalled by the continued disgraceful behavior, misconduct and failure to abide by rules and regulations and within accordance with credit card rules, and credit card policies. This on top of lack of good faith for a customer of XXXX years and a stock holder. 

The lack of common decency displayed by Bank of America in persistently maintaining negative remarks on the credit report, will not be tolerated. 

Consider this the final warning : unless you promptly rectify this egregious error by retracting and removing all negative remarks from my credit report, we will initiate further legal action against Bank of America.

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 non-monetary relief