Consumer complaint received 2025-01-20 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem caused by your funds being low — Bounced checks or returned payments
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CO

Complaint narrative:
To Whom It May Concern, I am writing to file a formal complaint against Bank of America regarding a recent dispute and the subsequent overdraft charges on my account. 

Background of the Dispute On or around XX/XX/XXXX, I discovered that XXXX had charged my account {$110.00} without my consent, related to a delivery failure. 
I contacted XXXX, and they indicated they would allow a credit reversal for this transaction. 
Following XXXX statement, I opened a claim with Bank of America to dispute the {$110.00} transaction. 
Banks Initial Response Bank of America representatives confirmed on XX/XX/XXXX, that my claim had been submitted. 
I provided the necessary details for the dispute and waited for the claim resolution. 
Unexpected Denial & Account Overdraft On XX/XX/XXXX, I received a letter stating that my claim was denied. No additional information or document requests were made before this denial. 
On XX/XX/XXXX, Bank of America withdrew {$110.00} from my checking account, which only had {$66.00} at the time. This resulted in a negative balance of - {$49.00}, causing my account to be overdrafted. 
I had {$110.00} in my savings account specifically set aside for upcoming bill payments. Because the bank debited my checking for the disputed amount, I did not have sufficient funds to cover my automatic payments, leading to overdraft fees. 
Banks Response to Overdraft & Further Delays I contacted Bank of America immediately on XX/XX/XXXX, to dispute the reversal and the overdraft charges. 
They agreed to re-open the dispute but said it would take another 45 days to resolve, and work would not begin until after the weekend. 
Over that weekend, I incurred two more overdraft charges of {$10.00} each, because my account continued to be in the negative and automatic payments were still attempting to clear. 
Although Bank of America reversed those two {$10.00} overdraft fees, they maintained that reversing the original {$110.00} and causing the overdraft was valid. 
Hardship & Customer Service Concerns I have been a loyal Bank of America customer for over 11 years. 
I am a XXXX  who is paid only once per month, so I do not have the flexibility to cover unexpected overdraft fees or debits. 
Bank of Americas decisions have put me in financial hardship and risked my ability to cover essential bills. 
I believe Bank of America has failed to protect me as a consumer and has not followed reasonable dispute resolution practices. 
Resolution Requested I respectfully request that the Consumer Financial Protection Bureau review Bank of Americas handling of this dispute. 
I ask that my account be credited the {$110.00} that I believe was taken without valid authorization, and that any overdraft fees or other charges stemming from this situation be permanently reversed. 
I also ask that Bank of America expedite the resolution process, as the additional 45-day wait only further jeopardizes my financial well-being. 
Thank you for your time and assistance in this matter. If you require any additional documentation, I am more than willing to provide it.

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