Consumer complaint received 2024-06-12 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA

Complaint narrative:
COMPLAINT ALLEGING UDAAP and OTHER fraudulent business practices against Merril Lynch ( aka Merrill XXXX ) Date Description XXXX Reach out to my Merrill investment advisor to request assistance transferring {$5.00} XXXX from a joint account held with my sisters to XXXX personal " preferred deposit '' accounts : XXXX held by XXXX and XXXX by XXXX XXXX Send in the required and signed XXXX XXXX to facilitate the transfer XXXX Inquire with both Merrill XXXX  and my advisor about transfer status. Told it is in process and should be completed by Monday XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX with Merrill XXXX , calls to advise me that my form is fine, but my sister 's XXXX has a typo. He asks if he should proceed with my transfer and I tell him yes. 
XXXX XXXX resubmits her signed LOA with typo corrected. 
XXXX Inquire about status of transfer, told it was in process XXXX Inquire about status of transfer, told it was in process XXXX Inquire about status of transfer, told it was in process XXXX My financial advisor informs me {$2.00} XXXX has been transferred into my Preferred deposit account, and that XXXX XXXX XXXX XXXX transfer should be done as well. 
XXXX Review our sister joint account statement online, and discover that the {$5.00} XXXX was removed from the preferred deposit account on XX/XX/XXXX The statement also shows that {$2.00} XXXX was deposited into my preferred deposit account on XX/XX/XXXX, and to XXXX XXXX XXXX XXXXXX/XX/XXXX THIS DELAY OF 6 DAYS, DUE TO FLAWED OPERATIONAL PRACTICES OR INTENTIONAL, RESULTS IN UNDERPAYMENT OF INTEREST of APPROX {$3900.00} ( {$5.00} XXXX x XXXX / XXXX x XXXX ) I reach out to XXXX XXXX XXXX XXXX and XXXX XXXX at Merrill ( my advisor ) and they agree to look into it because it doesnt sound right XXXX XXXX XXXX advises he is reviewing the details and would advise tomorrow ( Friday XX/XX/XXXX ) XXXX Do not hear from XXXX XXXX I reach out to XXXX via email for a status XXXX XXXX responds via email saying not much progress to report because there is a backlog of this type of issue that is under review. 
XXXX I email XXXX for a status. He says nothing new to report. He and his manager are working on it XXXX I advise XXXX that I am officially filing a complaint and will also be filing one with the CFPB XXXX I email XXXX and ask to escalate above him XXXX XXXX calls me and says escalating higher may slow down the progress of the review, as it might irritate the reviewers XXXX I email XXXX for a status XXXX I receive an email from XXXX saying he is confiddent this will be resolved " next week '' he is " in contact with the apprpriate team '' XXXX STILL NO RESOLUTION OR UPDATE. 43 days and counting from when I escalated the issue.

I have copies of all relevent email exchanges as well as the XX/XX/XXXX Merrill statement for if needed

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