Consumer complaint received 2025-05-21 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL

Complaint narrative:
In XX/XX/XXXX, I opened a checking account with Bank of America as part of my effort to establish a XXXX XXXX in the United States. A few months later, I also opened a {$300.00} secured credit card with the same institution. Shortly after opening these accounts, Bank of America closed my checking account due to suspicious activity they had detected. I was not notified in advance, nor was I given a clear explanation of the issue. However, I did receive confirmation that my {$300.00} security deposit was refunded to the XXXX  account, leading me to believe that both accounts were closed in good standing and that I had no further obligations. 

Assuming everything had been resolved, I moved on. It wasn't until over a year later, in XXXX, when I applied for a credit card with XXXX Bank, that I was shocked to learn that Bank of America had reported a delinquent balance of approximately {$1000.00} on my credit report. Until that moment, I had never received any calls, emails, letters, or account statements indicating that I owed any money. This was the first time I became aware of the issue. 

XXXX, I immediately contacted Bank of America and asked for a full investigation. However, each time I reached out whether over the phone or in person at XXXX different financial centers I was met with confusion or misdirection. The focus was consistently on verifying whether I had opened the account, rather than understanding what activity had occurred on the account after it was opened. The core issue how the balance accrued after the account was supposedly closed was never meaningfully addressed. 

After looking deeper into the matter, I realized that I had been a victim of identity theft. During the time these accounts were open, I lived with individuals who had access to my personal information, including my mail and banking cards. It is now clear to me that unauthorized use of my financial accounts took place, which led to the suspicious activity and ultimately the balance that was reported. Despite explaining this to Bank of America XXXX XXXX and requesting that the fraudulent nature of the activity be investigated, no proper resolution or support was provided. 

Eventually, I agreed to pay the full balance in good faith, after being told by a recovery agent that it could help my credit standing. Following the payment, I received a generic confirmation letter no mention of a charge-off, no breakdown of the debt, and no communication about how this would be reported to the credit bureaus. I asked directly whether the negative information could be removed or updated and was not given a clear answer. 

To this day, that account remains reported with late payments and possibly a charge-off on my credit history, which has caused substantial damage to my otherwise clean and carefully managed credit profile. I have never missed a payment on any account since. It is disheartening and unfair that I am being penalized for fraudulent activity that occurred without my knowledge or consent and which I took every step to resolve once discovered. 

I am requesting CFPBs assistance in urging Bank of America to take accountability for their lack of proper communication and investigation in this matter and to report the account more fairly, reflecting the fact that I was a victim of identity theft and acted responsibly to resolve the debt once it came to light.

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