Consumer complaint received 2025-08-15 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Confusing or misleading advertising or marketing
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NY

Complaint narrative:
Bank of America , N.A . ( XXXX XXXX XXXX ), Beneficiary : XXXX XXXX is a resident of New York State. 
Fiduciary : Bank of America , N.A . ( BofA ) is a national banking association with a branch at XXXX XXXX XXXX XXXX NY. 

Jurisdiction and XXXX  XXXX  question practice of Bank of America XXXX XXXX of full faith and credit, and they shaping holder of the signed not with wet ink signature and two withdrawal of credit collected by institution for their gain, and denied the beneficiary where is the fair value of exchange, the IRS never denied the BOA fair exchange at the member bank window at the Federal Reverse, according to the Internal Revenue Service manual for redemption, the receive full equal credit of unclaimed amount requested on behalf to the beneficiary and denied me the privilege and, and without retuning the the contract back the pooled it and transfer it in their trust for derivative gains jurisdiction under 28 U.S.C. 1331 and Section 27 of the Securities Exchange Act ( 15 U.S.C. 78aa ). 
XXXX  is proper in this District under 28 U.S.C. 1391 ( b ) because the events giving rise to this occurred at BofAs XXXX XXXX branch in New York. 

Factual Background On XX/XX/year>, I applied in person for an SBA-backed business loan at BofAs XXXX XXXX XXXX XXXX He provided his Social Security number and business EIN. 
Within seconds, I received an automated denial generated by an AI system, with no human review or explanation. I also received an email stating : Thank you for your recent credit application r credit received .. We have received your request and will be in touch. 
Despite repeated calls seeking reconsideration, Plaintiff never received the promised follow-up letter or any substantive explanation.

Instead, BofA secretly transferred Plaintiffs application and the related borrower note into a securitized trust without his knowledge or consent. 
BofA did not disclose this transfer, misrepresented Plaintiffs rights under the SBA program, and profited from the securitization.

As a result, Plaintiff lost the opportunity to secure SBA financing, suffered damage to his credit reputation, and endured unauthorized use of his personal and business data.

Count I : Securities Fraud ( 15 U.S.C. 78j ( b ) and SEC Rule 10b-5 ) Plaintiff incorporates the preceding paragraphs.

In packaging and selling trust securities, BofA made material misstatements and omissions about how Plaintiffs application and note were handled. 
BofA acted knowingly and with intent to deceive SBA borrowers.

Plaintiff relied on BofAs representations and suffered financial harm.

Count II : Breach of Fiduciary Duty Plaintiff incorporates the preceding paragraphs.

By accepting Plaintiffs loan application, BofA assumed a fiduciary duty to manage his information and loan request in good faith.

BofA breached that duty by transferring Plaintiffs note into a trust for its own gain, without notice or consent.

Plaintiff was harmed by this breach. 

Count III : Unfair and Deceptive Acts ( N.Y. Gen. Bus. Law 349 ) Plaintiff incorporates the preceding paragraphs.

BofAs secret securitization and false statements are unfair and deceptive business practices under New York law. 
Plaintiff suffered actual damages as a result. 

Prayer for Relief WHEREFORE, Plaintiff requests that the Court : a. Award compensatory damages in an amount to be determined at trial ; b. Rescind any transfers of Plaintiffs application or note and restore his rights ; c. Issue an injunction preventing BofA from pooling or securitizing Plaintiffs data without consent ; d. Award treble damages and civil penalties under GBL 349 ; e. Award pre- and post-judgment interest ; g. Grant any other relief the Court deems just and proper.

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