Consumer complaint received 2026-04-23 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TX

Complaint narrative:
Illegal Withholding of Business Funds and Violation of XXXX XXXX Regulations Description of Incident : I am filing this formal complaint against Bank of America for the wrongful withholding of {$4100.00} in business operating capital and for the professional misconduct of their dispute department staff. Due to Bank XXXX XXXX XXXX delay in releasing my {$4100.00}, my business was unable to purchase the necessary equipment for a contracted project. As a direct result of the banks negligence and refusal to process these settled funds, I have officially lost a project today, XX/XX/year>. This has caused significant financial harm to my business 's revenue and professional reputation. As of today, XX/XX/year>, Bank of America 's refusal to credit the settled funds has resulted in my business account falling into a negative balance. I am now facing potential overdraft fees and further damage to my business credit, all while the bank is in possession of {$4100.00} that was returned by the merchant 30 days ago. XXXX. The Evidence : A formal XXXX dispute ( Claim # XXXX / Dispute ID : XXXX ) regarding the merchant XXXX, XXXX was finalized on XX/XX/year>. The merchant has provided me with official documentation on their letterhead confirming that the case was marked " XXXX : XXXX ( in favor of cardholder ) '' and that the funds were withdrawn from their account and returned to Bank of America nearly 30 days ago. The fax transmission log of previous email correspondence between myself and the merchant that was requested by Bank of America from XX/XX/year>. The fax transmission log of previous email correspondence received from the merchant for the chargeback letter which Bank of America requested from me as well, stating that once they had that, they would be able to issue the refund. They have confirmed they have the documentation but they will not issue the refund. XXXX. Bank XXXX to Process : For the past 20 days, I have repeatedly contacted Bank of America. Both the merchant and I have faxed this official letterhead and the email chain from the merchants Accounts XXXX XXXX ( XXXX XXXX ) to the banks dispute department. Despite this, Bank of America representatives claim they are waiting for the merchant, which is factually impossible as the XXXX network has already closed the case and moved the funds. XXXX. Misconduct and Negligence : On XX/XX/year>, I was verbally abused and yelled at by a representative when I requested a status update, after which I was placed on an indefinite hold. Supervisors continue to ignore the verified Network Dispute ID and the merchants concession, effectively holding my businesss money in a suspense account without legal cause. The representatives who refused to review the evidence and, in XXXX case, was verbally abusive, are XXXX Employee ID [ XXXX and XXXX XXXX ID [ XXXX ]. I am requesting that the recorded calls from XX/XX/XXXX involving these individuals be reviewed as part of this complaint. XXXX. Legal Violations : Bank of America is in violation of Regulation XXXX and XXXX Operating Regulations regarding the timely settlement of finalized disputes. Because this investigation has exceeded XXXX business days and I have provided physical proof of the merchants concession, the banks refusal to credit my account or provide a provisional credit is a regulatory failure.

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