Consumer complaint received 2024-11-26 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Deposits and withdrawals
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL

Complaint narrative:
Dear CFPB Representative, I am writing to formally file a complaint against Bank of America NA for their unauthorized and unethical withdrawal of funds from my account, causing severe financial and emotional distress to me and my family. 

Background of the Issue : 1. Financial Hardship and Communication : o Since XX/XX/XXXX, I have been experiencing financial hardship, which I have communicated to Bank of America multiple times. 
o As a result of this hardship, I was unable to make payments on my business credit card account, which was subsequently closed on XX/XX/XXXX, for non-payment over 90 days. 
o 2. Recorded Communication : o I spoke to Bank of America representatives on recorded calls on the following dates to inform them of my hardship and my intention to resume payments in XX/XX/XXXX : XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX Unauthorized Withdrawal of Funds : On XX/XX/XXXX, my children received social security backpay from their deceased father. This money, amounting to {$3700.00}, was transferred to my daughters savings account for her needs. 
On XX/XX/XXXX, Bank of America withdrew funds in the amount of {$3.00}, XXXX without authorization to pay the outstanding debt on my closed business credit card account. This action has caused extreme financial and emotional distress, as these funds do not belong to me and are critical for my childrens welfare. 

Details of My Attempt to Resolve the Issue : On XX/XX/XXXX, I contacted Bank of America and was transferred to the Charge-Off Department, where I spoke with XXXX XXXX XXXX XXXX PM ET on a recorded line. 
I explained my hardship, the unauthorized nature of the withdrawal, and the severe impact on my familys well-being. 
XXXX XXXX informed me that Bank of Americas fine print disclosure for the credit card gave them the right to withdraw funds from any of my accounts to settle the debt. However, I was not made aware of this clause when I signed up for the credit card. 
Despite my repeated requests for reversal of the unauthorized transaction, Bank of America has refused to address the matter. 


Request for Assistance : Bank of Americas actions have placed an undue burden on my family, and their refusal to reverse the unauthorized withdrawal is unacceptable. I request the CFPB to intervene and take the following actions : 1. Investigate Bank of Americas Practices : o Review their disclosure practices and whether I was adequately informed about their ability to withdraw funds from other accounts.

2. Order Reimbursement : o Direct Bank of America to reverse the unauthorized withdrawal of {$3600.00} from my daughters savings account.

3. Provide Accountability : o Hold Bank of America accountable for their unethical practices and ensure they comply with consumer protection laws.

Thank you for your attention to this matter. I am attaching any relevant documentation, including transaction records, account statements, and correspondence with Bank of America, to support my complaint. Please feel free to contact me if additional information is needed. I

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