Consumer complaint received 2026-03-16 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Fraud or scam — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NC

Complaint narrative:
I am writing to request immediate regulatory review regarding the wrongful revocation of my access to XXXX through my account with Bank of America. I have been a loyal Bank of America customer for over 30 years and currently maintain a XXXX customer relationship with the bank. My XXXX account had been active and functioning normally for more than 10 years without any prior issues. On XX/XX/year>, I received a notification that the email address and phone number associated with my XXXX account had been removed. When I contacted Bank of America, I was informed that my XXXX access had been blocked due to a restriction placed on my account by XXXX. I subsequently contacted XXXX directly. XXXX confirmed that there were no restrictions on their side and arranged a three-way call between XXXX and Bank of America representatives . However, Bank of America was still unable to restore my XXXX access. On XX/XX/year>, I was informed by a representative from Bank of Americas Fraud Department that a complaint had been filed through another bank, which resulted in the revocation of my XXXX access. However, I was never : * informed who made the complaint, * informed what the complaint alleged, * asked to provide any documentation, or * given any opportunity to respond before this action was taken. I operate a rental property business, and XXXX has been used to collect rent payments, security deposits, and rental application fees. All transactions are supported by signed lease agreements and written application disclosures. The application fees are clearly disclosed as non-refundable because they are used to pay for tenant background screening, which is standard practice in the rental industry. In an effort to resolve this matter, I repeatedly contacted Bank of America to request information regarding the investigation. Between XX/XX/XXXX and XX/XX/year>, I requested details regarding the case review. On XX/XX/year>, a Bank of America representative named XXXX called and stated that another representative, XXXX, would contact me regarding the investigation. However, no one ever contacted me. After waiting for a week, I contacted Bank of America again. I was then informed that there were no notes in the system regarding the call from XXXX on XX/XX/year>, and I was unable to obtain any further information regarding the alleged complaint or the investigation. This situation raises serious concerns regarding lack of transparency, lack of due process, and failure to properly investigate before restricting financial services. The restriction occurred at the beginning of the month, when tenants typically pay rent. As a result, several tenants received fraud or suspicious activity warnings when attempting to send payments, which has disrupted my business operations and harmed my reputation with tenants. After more than three decades of banking with Bank of America, it is extremely concerning that such severe action could be taken without explanation, without investigation transparency, and without giving me the opportunity to provide documentation to clarify the situation.

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