Consumer complaint received 2025-02-25 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NY

Complaint narrative:
To Whom It May Concern, I am filing a formal complaint regarding Bank of XXXX  failure to properly process and acknowledge time-sensitive housing payments, which has put me at risk of losing my approved apartment through Housing Connect.

Background of the Issue : On XX/XX/year>, at XXXX PM, I made XXXX payments of {$2000.00} each ( totaling {$4000.00} ) to cover my apartment deposit and upfront rental fees. These payments were made through XXXX XXXX official payment portal and were successfully deducted from my Bank of America account. However, despite being processed on my end, these payments were not reflected on Housing Connects system within the expected timeframe. 

Understanding that transactions sometimes take time, I initially waited for the stated two-hour processing window to pass. When the payments still XXXX acknowledged, I contacted XXXX XXXX, and they confirmed that they had not received the payments on their end, which created an urgent problem for my apartment approval. 

XXXX Bank of America XXXX XXXX XXXX : After recognizing the issue, I reached out to Bank XXXX XXXX customer service and spoke to a supervisor. Unfortunately, I was informed that despite the risk of losing my apartment, there was nothing they could do to expedite or resolve the issue. 

This response is completely unacceptable, as these payments are critical to securing housing. Bank of America failed to provide : A clear reason for why the payments were not properly reflected. 
Any resolution options despite the urgency of the situation. 
Assurance that this issue would not negatively impact my standing with XXXX XXXX. 
Concerns and Impact : Risk of Losing My Apartment Due to Bank XXXX XXXX XXXX, my approved housing is now at risk. This is not just a financial issue but a matter of stability and well-being. 
Failure to Provide Adequate Support A financial institution should not tell a customer that there is nothing they can do when dealing with an urgent issue that could impact their housing situation. 
Lack of Accountability and XXXX Bank of America has not provided a clear explanation as to why my payments have not been properly recognized. 
Unnecessary Financial and Emotional Stress Having to chase a resolution for a problem that should not have occurred in the first place has caused undue stress and frustration, which could have been avoided with better handling of the situation. 
Requested Resolution : A formal investigation into why these transactions were not properly processed. 
A clear explanation from Bank of America on what caused this delay and why they were unable to provide any immediate assistance. 
Accountability measures to ensure that customers do not experience similar delays with essential housing payments. 
Assurance that my housing approval and financial standing will not be impacted due to this issue. 
I urge the Consumer Financial Protection Bureau ( CFPB ) to take immediate action on this matter, as housing is an essential necessity, and a financial institution should never place a customer at risk due to negligence and failure to provide timely solutions. 

I appreciate your time in reviewing this complaint and look forward to a prompt response. Please feel free to contact me at [ your contact information ] should any further details be needed. 

Sincerely, [ Your Full Name ]

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