Consumer complaint received 2026-05-04 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement — Credit card company isn't resolving a dispute about a purchase on your statement
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX Claim No. : XXXX Claim No. : XXXX Bank of America Claims Resolution XXXX XXXX. XXXX XXXX XXXX, TX XXXX To : Federal Trade Commission , Consumer Financial Protection Bureau , and Bank of America Claims Resolution Department Subject : Formal Billing Dispute Appeal and Request for Reinvestigation of Vincere Trading Transactions Dear Sir or Madam, I, XXXX XXXX XXXX respectfully submit this formal billing dispute appeal and request for reinvestigation regarding the above-referenced claims involving transactions processed by XXXX XXXX. I request that Bank of America reopen and thoroughly investigate the disputed transactions pursuant to the protections afforded under the Truth in Lending Act ( TILA ), the Fair Credit Billing Act ( FCBA ), Regulation Z, and all other applicable federal consumer protection laws. On or about XX/XX/year>, I was charged the following amounts by XXXX XXXX for algorithmic trading software and automated trading services : XXXX XXXX {$6000.00} XXXX XXXX {$5000.00} Total Disputed Amount : {$11000.00} The merchant represented that it would provide functional algorithmic trading software and automated trading system services. However, the software and services delivered were materially defective, nonfunctional, and failed to perform as represented in the merchants advertisements and sales representations. The promised products and services were therefore not delivered as agreed. Under the Fair Credit Billing Act, as implemented through Regulation Z, card issuers are required to investigate billing disputes involving goods or services not accepted by the consumer or not delivered as agreed. Specifically, 12 C.F.R. 1026.13 ( a ) provides protections for consumers where a transaction reflects goods or services that were materially deficient, defective, or not delivered in accordance with the merchants representations. The disputed transactions qualify as billing errors because the merchant failed to provide the promised software system and related services in a functional and merchantable condition. As such, Bank of America has a legal obligation to conduct a reasonable and thorough investigation into these disputed transactions. Additionally, pursuant to 12 C.F.R. 1026.12 ( c ), consumers may assert claims and defenses against the card issuer arising from credit card transactions where the consumer made a good- faith effort to resolve the dispute directly with the merchant. The disputed amount substantially exceeds the statutory threshold required under federal law. Federal law further requires that, upon receipt of a timely written billing dispute notice, the card issuer must : Acknowledge the dispute within thirty ( 30 ) days ; Conduct a reasonable investigation into the disputed transactions ; Resolve the dispute within two complete billing cycles, not exceeding ninety ( 90 ) days ; and Credit the consumers account if the investigation confirms that a billing error occurred. Because the products and services were materially defective and not delivered as represented, I respectfully request that Bank of America : 1. Reopen Claim No. XXXX and Claim No. XXXX immediately ; 2. Conduct a renewed and comprehensive investigation into the XXXX XXXX transactions ; 3. Reverse and credit the disputed charges totaling {$11000.00} ; and 4. Provide written confirmation regarding the status and outcome of the reinvestigation. This correspondence is submitted in good faith and in support of my rights under applicable federal consumer protection statutes and regulations. Thank you for your prompt attention to this matter. I respectfully request written confirmation acknowledging receipt of this appeal and advising me of the next steps in the investigation process. Sincerely, XXXX XXXX

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