Consumer complaint received 2025-01-14 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Opening an account — Unable to open an account
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TX

Complaint narrative:
Subject : Complaint Regarding Discriminatory Practices in Account Opening Process Bank of America Complaint ID : XXXX I am writing to formally file a complaint regarding discriminatory practices I encountered while attempting to open a bank account at Bank of America located at XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXXXXXX. My experience suggests violations of regulations enforced by both the Office of the Comptroller of the Currency ( OCC ) and the Federal Deposit Insurance Corporation ( FDIC ), particularly those prohibiting discrimination in the provision of banking services. 

Facts of the Case On XXXX XX/XX/XXXX, I visited Bank of America with intentions of opening a checking account. During the application process, I was informed by the XXXX, the bank manager, that I would be unable to open an account due to my inability to provide full access to the entirety of the private trust documentation as requested. I did, however, provide the necessary notarized documents required for account opening, which included the following : Trust EIN, Declaration of Trust, Acceptance of Trustee, Acceptance of Successor, Certification of Trust and signature page, all of which were notarized at XXXX XXXX  the morning of XXXX XX/XX/XXXX. 
The reason I was unable to provide full access to the trust documentation was to maintain the confidentiality and privacy of the trust 's sensitive information, which is protected under specific legal and fiduciary guidelines. I emphasized to XXXX, that the privacy of the trust was a matter of utmost importance and that I could not disclose certain details. Despite providing the aforementioned notarized documentation, I was informed by the bank manager, XXXX, that I would not be allowed to open the account. The bank manager stated, okay well, at this time I refuse to open the trust account. '' I believe this refusal may have been influenced by discriminatory factors in violation of the Equal Credit Opportunity Act ( ECOA ), which prohibits discrimination on the basis of race, gender, and other protected characteristics. As an XXXX American/XXXX  woman with a private trust, I suspect that these discriminatory factors may have contributed to the bank 's refusal to open the account. During the interaction, I felt that I was being treated in a manner that suggested I was committing a criminal act. During the interaction, I felt that I was being treated in a manner that suggested I was committing a criminal act. XXXX, the bank representative, abruptly got up from his desk, walked out of the office, and left me alone in the office for approximately twenty minutes. When he returned with the bank manager, XXXX, I was told that my application could not proceed ( a profile was taken by Bank of America representatives for the creation of the trust ). 
Despite my qualifications and ability to meet the necessary criteria, I believe I was unjustly denied services that were made available to other applicants in similar situations. 

Alleged Violations of OCC and FDIC Regulations The conduct I encountered appears to be in violation of both OCC and FDIC regulations concerning non-discriminatory practices in the opening of accounts. Specifically, I believe the bank has violated : 12 CFR 202.4 Prohibited Discriminatory Practices Under ECOA The Equal Credit Opportunity Act ( ECOA ) prohibits discrimination in any aspect of a credit transaction based on race, color, religion, national origin, sex, marital status, age, or the fact that all or part of an applicants income derives from public assistance. Under this statute, the denial of an account based on discriminatory reasons is unlawful. 
Case Law Reference : XXXX XXXX Bank of America, XXXX XXXX XXXX ( XXXX XXXX. XXXX ) : The court found that bank practices that disproportionately affect a protected class without sufficient justification are subject to strict scrutiny under ECOA. 
12 U.S.C. 2901-2908 FDICs Fair Lending Regulations The FDIC enforces compliance with fair lending laws, including ECOA, to ensure that all consumers have equal access to financial services. The FDIC requires financial institutions to assess applicants for account openings in a fair and non-discriminatory manner. 
Case Law Reference : United States XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX. XXXX XXXX ( XXXX XXXX  XXXX ) : The court ruled that a banks refusal to provide services to an applicant based on discriminatory factors violated federal fair lending regulations and principles under the FDIC . 

Impact on Me as an Applicant As a result of this discriminatory practice, I have been denied the basic financial services that I am legally entitled to, which has caused me significant inconvenience, embarrassment, and financial harm. Furthermore, the refusal of service has impacted my ability to access crucial banking resources such as direct deposit, bill payment services, and credit-building opportunities. 
On XXXX XX/XX/XXXX, I visited a Bank of America branch located at XXXX XXXX XXXX XXXX, XXXX, XXXX  XXXX ( XXXX XXXX : XXXX ). Upon my arrival, I was assisted by a bank representative, XXXX, who was responsible for processing my request. During this visit, XXXX successfully opened a trust account under the name XXXX XXXX XXXX XXXX without any issues or delays, ensuring that the account was set up seamlessly and in accordance with all required procedures

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