Consumer complaint received 2025-01-16 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement — Credit card company isn't resolving a dispute about a purchase on your statement
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MA

Complaint narrative:
In early XXXX of XXXX, I noticed several fraudulent transactions on my business credit card from XXXX, and reported them promptly to the Bank Of America XXXX department. Since my initial report, there were several other fraudulent transactions posted to the account within a matter of days, also from XXXX, which I promptly informed them about as well. The total transaction amount was about {$12000.00}. 

Since then, they have been investigating the claim, and in XXXX of XXXX, they had concluded their investigation. I was not aware of this fact, since I never received the letter they had mailed to me. However, in early XXXX of XXXX I noticed that I was charged a late fee for non-payment of a balance amount, and upon logging in and checking my account, I found that there was a {$2700.00} balance owned on my account. I immediately reconciled each of the transactions since XXXX using the monthly statements, and it was very quickly apparent to me that they had made an error in how they had handled the claim ( they had rescinded some of the credits that were posted to my account to negate the fraud charges, asserting that the vendor has refunded me the same, which clearly wasn't the case based on the posted transaction history on the account ). 

I promptly called them and the agent agreed that the claim needed to be re-opened so that they can resolve the matter and address the error they had made ( i.e., if the claim was resolved correctly, I would not owe any money to BOA, since all the charges on the account since XXXX were all fraudulent ). The agent also reversed the late fee they had charged. However, they said I have to make a minimum payment on the balance due, if I wanted to keep the account in good standing, even though the amount that I supposedly owed them was due to the error the bank had made in resolving the dispute. I made the minimum payment due of {$130.00} so I wouldn't be charged late fees. The agent also told me at the time that the error would be addressed in a " week or so '' and call back if it wasn't. 

It is now XX/XX/XXXX and the issue has not yet been resolved- its been over 6 months since I initially reported the claim. I have spoken with multiple agents since my call to them in XXXX, and each time I've been told they are still investigating the issue and that I should check back in a few days. 

My last call to their claims department was on XX/XX/XXXX. I was told that they don't yet have an estimated resolution date for the claim, and that I had no recourse but to wait, all the while making the minimum monthly payments to the account for a balance that I'm not even liable for. 

The claim # in question is - XXXX. 

Please assist me in getting the necessary scrutiny on this case to get it resolved in a timely manner. Thank you

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