Consumer complaint received 2025-05-16 00:00:00
Product: Money transfer, virtual currency, or money service — Mobile or digital wallet
Issue: Fraud or scam — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TX

Complaint narrative:
To the Consumer Financial Protection Bureau : I am filing this complaint against both Bank of America and XXXX regarding their joint refusal to assist with a fraud claim involving {$3200.00} transferred from my Bank of America account through XXXX XXXX  after falling victim to a social engineering scam. 

What Happened : On XX/XX/year>, I received a call from someone claiming to be from Bank of America 's fraud department. The caller had specific information about my account and convinced me that unauthorized activity had been detected. Following their instructions, I authorized a {$3200.00} transfer through XXXX XXXX, believing I was following legitimate security procedures recommended by my bank. 
I later discovered this was a scam - Bank of America never called me and I had been tricked into authorizing the transfer by a scammer impersonating bank personnel. 

Actions Taken : - Immediately contacted Bank of America on XX/XX/year> to report being deceived by the scammer - The Bank of America representative stated they could stop the transfer while it was processing and assured me they would investigate and work on resolving it during the processing period - Contacted XXXX regarding the XXXX XXXX transfer - XXXX representative also claimed they could stop the transfer while processing and would work on resolving the issue - Both companies failed to act on their promises to stop the transfer - Now that the transfer has processed, both companies claim they " can not do anything at all '' - Bank of America claims XXXX is responsible ; XXXX claims Bank of America is responsible - Both companies now refuse to help, despite their initial assurances that they could and would resolve the matter Current Status : Both companies are now denying responsibility and pointing fingers at each other. They allowed the transfer to process despite promising to stop it, and now claim it's too late to act. This {$3200.00} represents essential living expenses for my family including rent, utilities, food, and medical care for my XXXX  wife and XXXX child. 

Issues : False promises and misleading statements : Both companies assured me they could stop the transfer while processing, then failed to act Finger-pointing without resolution : Each company directs me to the other, creating an endless loop with no accountability The companies ' inaction and delays have made the situation worse by allowing the transfer to complete No clear path to recovery despite both companies initially promising to resolve the matter Resolution Sought : Return of the {$3200.00} lost to the scammer Accountability for the false promises made by both companies ' representatives Clear designation of responsibility between Bank of America and XXXX for XXXX XXXX fraud claims Compensation for the additional hardship caused by their failure to act on their promises This situation is deeply unfair. Both companies promised they could help and would stop the transfer, but instead dragged their feet until it was " too late '' to act. They created false hope and allowed the situation to worsen through their inaction. Their mutual denial of responsibility after failing to deliver on their promises has left my family in financial crisis.

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