Consumer complaint received 2024-12-20 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with fraud alerts or security freezes — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NC

Complaint narrative:
Dear Consumer Financial Protection Bureau ( CFPB ), I am submitting a formal complaint regarding the negligent and harmful actions of Bank of America and the subsequent inaccurate reporting by XXXX, which have caused significant harm to my financial standing, business operations, and personal reputation. Below, XXXX detail the sequence of events and the impact of these actions.

Timeline of Events 1. Unauthorized Deposit ( XX/XX/year> ) : An unauthorized deposit of {$9300.00} was made into my Bank of America checking account ( Account No. XXXX ) via a check issued by a company called XXXX XXXX XXXX XXXX. I have no knowledge of or affiliation with this company, nor was I expecting any such transaction. 
XXXX. Account Flagged and Hold Placed ( XX/XX/year> ) : Bank of America flagged the deposit as suspicious and placed a hold on the funds. 
XXXX. Account Closure ( XX/XX/year> ) : Without providing notice or an opportunity to dispute the matter, Bank of America unilaterally closed my account. Upon inquiry, I was informed that the deposit was the reason for the closure. 
XXXX. Complaint to North Carolina Department of Justice ( XX/XX/year> ) : I filed a formal complaint with the North Carolina Department of Justice ( DOJ ) under reference number CP-24-05228, outlining my lack of involvement in the transaction. The DOJ attempted to contact XXXX XXXX XXXX XXXX but received no response, which confirmed that the company was likely fraudulent and engaged in criminal activity. 
XXXX. False Report to XXXX : Despite my efforts to address the issue, Bank of America submitted a report to XXXX, falsely labeling me as committing fraud. 
XXXX. Rejection by XXXX XXXX  ( XX/XX/year> ) : As a result of the XXXX report, XXXX XXXX  denied my application for a new account. Their communication explicitly stated that the denial was due to the fraudulent report originating from Bank of America in XX/XX/year>. 

Impact of These Actions Exclusion from Banking Services : The false report has caused multiple financial institutions to reject my applications for new accounts, leaving me without access to essential banking services.

Credit Score Damage : My credit score has been reduced to XXXX, further limiting my financial opportunities. 
Reputational Harm : The false fraud label has severely impacted my personal and professional reputation. 
Business Disruption : The lack of access to banking services has disrupted my business operations, causing financial losses and emotional distress.

Violations Bank of Americas actions violate my rights under the Fair Credit Reporting Act ( FCRA ) and the Gramm-Leach-Bliley Act, which require financial institutions to : 1. Ensure the accuracy and verifiability of information reported to consumer reporting agencies.

2. Conduct thorough investigations before taking actions that harm their clients.

3. Provide due process and the opportunity to dispute allegations before submitting reports. 

XXXX has also failed in their responsibility under the FCRA to ensure that the information they collect and report is accurate, complete, and fair.

Requested Actions 1. Conduct a thorough investigation into Bank of Americas handling of this case and their report to XXXX. 
XXXX. Require XXXX to remove the false report from their system.

3. Hold Bank of America accountable for their negligence and failure to comply with federal laws.

4. Provide guidance and assistance to help restore my financial standing and reputation.

Supporting Documentation I have attached the following documents for your review : 1. A copy of the complaint filed with the DOJ ( File No. CP-24-05228 ).

2. Email correspondence with the DOJ, confirming that XXXX XXXX XXXX XXXX failed to respond. 
XXXX. The DOJs official response, detailing their findings. 
XXXX. The email from XXXX XXXX, stating that my account application was denied due to the XXXX report linked to Bank of Americas actions.

5. Proof of the unauthorized deposit and the subsequent account closure by Bank of America. 

Conclusion The actions of Bank of America and XXXX have caused significant harm to my financial stability, personal life, and business operations. I respectfully request the CFPBs intervention to resolve this matter promptly and to prevent such negligent actions from affecting other consumers. 

Thank you for your attention to this complaint. I am available to provide additional information or documentation if required.

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