Consumer complaint received 2026-04-09 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA

Complaint narrative:
This complaint relates to bank claim number ( bank of america ) - XXXX On XX/XX/XXXX, I received an email from someone impersonating a fellow board member of the nonprofit organization I serve on, Literacy for Environmental Justice ( LEJ ). The scammer used a fraudulent XXXX address to pose as this board member, claiming to be away from the office with limited phone connectivity and requesting help with a board administration payment. The email referenced the organization 's treasurer by name, making it appear legitimate. Believing this to be a genuine request, I made four XXXX payments over three days, all to the same recipient : 1. XX/XX/XXXX {$980.00} 2. XX/XX/XXXX {$980.00} 3. XX/XX/XXXX {$540.00} 4. XX/XX/XXXX {$1600.00} Total lost : {$4100.00} The scammer also attempted to have me send a {$1500.00} wire transfer to a personal checking account at another bank under a different name, and an earlier {$1500.00} XXXX attempt to a different recipient also failed. These failed attempts show a pattern of escalation across multiple payment methods and recipient identities. I later confirmed directly with the real board member that she never sent any of these emails. Her identity was used without her knowledge in what is a classic Business Email Compromise ( BEC ) scheme. Upon discovering the fraud, I took the following steps : - Contacted my bank immediately to report the fraud and file a dispute - Filed a police report with my local police department - Filed an FBI IC3 complaint ( submitted XX/XX/XXXX ) - Filed an FTC report ( Report # XXXX ) - Alerted the real board member and the organization 's board My concerns with how my bank is handling this claim : 1. The bank representative stated the investigation will take 90 days. Under Regulation E ( 12 CFR 1005.11 ), investigations should be completed within 10 business days, or 45 days with provisional credit issued within 10 business days. I have not been offered provisional credit, and no legal basis for a 90-day timeline has been provided. 2. The bank is classifying this strictly as a " scam '' rather than " fraud '' because I initiated the transfers. However, my authorization was obtained through identity impersonation and deception. XXXX 's parent company, XXXX XXXX XXXX ( EWS ), has required all participating banks since XX/XX/XXXX to reimburse customers for qualifying imposter scams. I have asked the bank to evaluate my claim under this imposter scam reimbursement policy, not only under Reg E. 3. The bank stated they can not provide anything in writing regarding the status or classification of my claim. 4. I have not been informed whether the bank has initiated XXXX 's clawback mechanism to attempt to recover funds from the recipient 's XXXX account. The scammer continues to contact me as of XX/XX/XXXX, posing as the same board member and asking for my preferred " reimbursement method '' which I believe is an attempt at further fraud. I have not responded. I am requesting that my bank conduct a full investigation under both Regulation E and the XXXX/XXXX imposter scam reimbursement policy, initiate the clawback process, provide provisional credit, and communicate the status and outcome of my claim in writing.

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