Consumer complaint received 2025-06-27 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: UT

Complaint narrative:
On XX/XX/year>, Bank of America froze all of my accounts without any prior notice, without my consent, and without providing any explanation. Total amount frozen was around {$25000.00}. I was not contacted before or after the freeze. When I called that same day, I was asked irrelevant and vague questions ( such as about employment and retirement status ), and no one could tell me why this action was taken or when it would be resolved. 

During the freeze, I discovered that a completed transaction I made via XXXX XXXX- which had already been received by the recipient- was reversed by Bank of America without my request or authorization, and the funds were returned to the frozen checking account. I had read-only access and could not access or move those funds- meaning both my money and XXXX XXXX funds were held hostage by the bank. 

I am now receiving debt collection notices from XXXX XXXX, attempting to recover funds that were forcibly reversed after delivery. I am being held liable for a transaction I neither initiated for reversal nor authorized. This is a direct result of Bank of America 's unilateral actions and lack of communication. 

After sending a formal written demand letter on XX/XX/year> and receiving no response, I called again on XX/XX/year>. I was informed over the phone that my accounts were in the process of being unlocked. I was able to move most of my funds out, but not all services were restored. My debit card continues to reject payments, including my attempt to resolve the issue with XXXX XXXX. 

Additionally, I was informed that all of my credit cards with Bank of America were permanently closed as a result of the freeze - again without notice or opportunity to appeal. I have not received anything in writing, and no process was offered to dispute or reinstate the accounts. This caused immediate disruption across many of my regular recurring payments and subscriptions, which had to be updated manually. 

As a result, I am still exposed to additional harm from missed payments, overdraft fees, service interruptions, late penalties, and negative reporting- simply because I could not update all linked services quickly enough. These cascading effects were entirely avoidable if Bank of America had given me any meaningful notice or explanation. 

The credit cards that Bank of America permanently closed were also my oldest credit accounts, opened shortly after I moved to the XXXX on a XXXX XXXX XXXX  years ago. These accounts formed the foundation of my credit history. 

Their sudden closure has caused a significant drop in my average credit age, which negatively affects my credit score and overall creditworthiness. This kind of damage may impact my ability to obtain favorable loan terms, qualify for financial products, or pass credit checks for housing, insurance, and other services. The harm is long-lasting and was entirely avoidable had I been given notice or a chance to dispute the closure. 

During my second call on XX/XX/year>, I was told vaguely that the freeze was related to economic sanctions, but no supporting documentation or notice of adverse action was provided. If this was truly an XXXX flag or similar issue, I understand there are specific regulatory obligations for the bank to notify me and retain documentation. None of that was done. 

This process has lacked transparency, accountability, and basic fairness, and falls far below any reasonable regulatory expectation for consumer treatment. Bank of America 's actions have caused ongoing financial, administrative, and reputational damage, and left me exposed to third-party collection and further cascading harm.

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