BANK OF AMERICA, NATIONAL ASSOCIATION

2016-09-12

CA

Settlement process and costs

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: Dear CFPB, I had my mortgage with Bank of America, but I have not been receiving any type of notification from them for a many years now. I have called the Bank of America many times to resolve this matter, but unfortunately I was told that I no longer have a mortgage with Bank of America. I found out that my mortgage has been moved to XXXX XXXX. I never authorized this transfer nor requested the Bank of America to make any changes to my mortgage. There was no service transfer notification, nor any form of notification that this transfer has been made. I wish I can find more information but I am not able to receive any information from both XXXX XXXX & Bank of America until now. I spoke to many different representatives for many times from different department, but I am not able to find any information regarding my mortgage. Now when I ran my credit report, I saw many delinquent payment notices on my report from Bank of America. This is very unfair and I do n't know whom I can speak to to resolve this matter. Because of this ridiculous happening, I am not able to file a modification nor enroll for any financial help programs. I do not want to lose my home, but there is nothing I can do because of those delinquency notices on my credit report. Please help me to resolve this matter. I am very worried and lost at this point because I feel like the banks have used my personal information without my consent or authorization to make these changes and I am not able to receive any information from those banks. Once again, I never requested any changes or transfer, never late on my payments, and I do not want to lose my home. Thank you,
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-12

San Gabriel, CA

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: We obtained our first mortgage from Bank of America on XXXX/XXXX/XXXX and completed BOA in house modification program in XXXX/XXXX/XXXX. Its new principal balance of the note is {$700000.00} ( current interest bearing principal balance is {$490000.00} and deferred principal balance is {$180000.00} ). The loan has been transferred to XXXX Mortgage for service since XXXX/XXXX/XXXX. Our house has been underwater for many years ; we want to move on by requesting Principal Forgiveness of the deferred principal amount of {$180000.00} by using BOA settlement with Department of Justice of XXXX. When we contacted BOA on XXXX its representative informed us that we should apply through XXXX since they service the loan. Despite financially qualified, we were finally informed by XXXX in XXXX that our application was not approve because they believed we are doing fine with BOA 's XXXX modification. Our loan was originated by BOA and we believe we are entitled to apply for that relief from BOA for Principal Forgiveness. The settlement stated that credit will be provided to BOA for any Consumer Relief completed by any subservicer and for loans sold to other servicers. Appreciate if you can advise us best way to approach our situation. Thanks.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: Yes Timely Response

2016-09-12

Seligman, AZ

Other

Mortgage: Other mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-12

Blue Springs, MO

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-12

Austin, TX

Deposits and withdrawals

Bank account or service: Savings account

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: Yes Timely Response

2016-09-12

NJ

Loan servicing, payments, escrow account

Mortgage: Home equity loan or line of credit

Complaint: I have a XXXX mortgage with BOA. I have been paying on it over 10 years. I have never missed a payment. I monitor my credit report for it is important to me to keep my credit status in good standing. It was not until I received a notification from the credit bureaus that I realized BOA reported to the bureaus that my account was late on payment. My credit score dropped a significant number of points for this reason. I checked my bank account and the payment was made on time. I called BOA and they said it arrived in time but was short about {$54.00}. I was upset and mentioned that BOA has then misreported what actually occurred to the credit bureau. It was not late. I disputed the transaction with the credit bureau as well as with BOA and BOA will not remove the negative reporting. What had occurred was the interest rate changed so the amount of the monthly amount increased. What is so ironic is the payment use to be approx $ XXXX-XXXX a month for 10 years and now XXXX. I never received a kudo on my credit report when I sent in XXXX or more in the past but as soon as it was short they were quick to report that without notifying me. Overall my complaint is I explained why the payment was short ( I had no knowledge of after 10 years of paying on this XXXX that the amount had increased. I go into my bill pay and plug in the same amount for years. But to report to the credit bureaus that the payment was late was inaccurate, incorrect and false. The payment was made on time!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-12

Philatelic Center, CA

Deposits and withdrawals

Bank account or service: Other bank product/service

Complaint: I deposited a monthly paycheck into my local Bank of America ATM on Saturday, XX/XX/XXXX at XXXX in the amount of {$1700.00}. {$300.00} was available immediately, and per my online app, the balance of the check would be available Monday, XX/XX/XXXX, as I am accustomed to. I used my ATM card to make a purchase today, Monday afternoon, XX/XX/XXXX, and my card was declined. I called BOA to ask why my money deposited on XX/XX/XXXX was not available, and they said it would be available on Tuesday, XX/XX/XXXX. Since I have been with BOA since XX/XX/XXXX, I know this is a departure from practice, since when I deposit a check on the weekend, it is available on Monday, the first business day. I spoke with XXXX customer service staff who both sympathized, but both said the check would n't be available until XX/XX/XXXX, 4 days after the deposits. They both stressed there is no hold on my account, it just takes that long to process my check. This is a check I have deposited monthly for 14 years, issued from the State of California. I asked both customer service staff what has changed, and why was n't I informed, and they had no answer. Perhaps cfpb can help me navigate this, as no one has answers, and this is clearly not right.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: Yes Timely Response

2016-09-12

Torrance, CA

Deposits and withdrawals

Bank account or service: Savings account

Complaint: I have XXXX account with Bank of America.One account is a primary checking another checking account and also a Money Market account. Last month XXXX XXXX XXXX fees were added to my account by the bank.They added XXXX and a additional XXXX monthly fee. I called the bank to complain about this. They told me they added these fees because I had to many withdraws. I was told by a second representitive that they could refund me some of the money the bank had charged me. This person tranferred me to another representitive and they said there was nothing they can do to help me. I have had this account since XXXX and they did n't ever charge me. I ask them to not put additional charges on this account due to no activity since the month it happen but there has been another XXXX dollars fee added this month.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Disputed: No Timely Response

2016-09-12

Lk Buena Vis, FL

Problems caused by my funds being low

Bank account or service: Checking account

Complaint: I had a very unpleasant experience today with the Bank of America, with whom I 've been a customer for 6 years and never ( surprisingly ) had a problem before. An acquaintance of my husband, lets call him XXXX XXXX, had opened a bank account with BoA and added my husband a a secondary cardholder so that he can handle transactions, since XXXX XXXX spends most of his time out of the country. Later, XXXX XXXX became overdraft and never covered his fees since he was not in the US. Now, my husband is also a secondary cardholder on my account as well. After some time, BoA transferred {$400.00} from MY account to cover XXXX XXXX 's overdraft, even though the only common thing we have is that my husband is a cardholder on both of our accounts. This came without any notice, so imagine my surprise when my money went missing into an account I know nothing about. BoA refused to deposit the money back and claimed the right to setoff authorizes them to do so, even without overdraft protection between the XXXX accts. They also claimed that there is no primary or secondary cardholder, but all names listed on the account are equally responsible. I spent 3 hours at the bank trying to resolve the issue, and would n't hear any of my arguments. First of all, the bank misleads its customers by using the term " cardholder '' and not an " owner ''. It was never stressed to us that my husband was going to be an actual owner of either account ; I was under the impression that I only authorized him to use the card and nothing more than that. Secondly, " the right to setoff '' was definitely a new term in my vocabulary as the bank completely omitted mentioning anything of the sort. When I said I was unaware of these policies and asked for the paperwork, they said they had just ran out of the pamphlets that they supposedly give to all their customers ( how convenient ), and instead printed it out from their computer ( took them 30 minutes ). The papers did have a cardholder definition and the right to setoff meaning, very vaguely, however ( for example, it does not say that the bank will charge a positive acct to cover a negative acct 100 days after it became overdrawn ), but these things were never explained to either of us. Moreover, the brochure is dated XX/XX/XXXX, whereas I opened my acct XX/XX/XXXX. Third, I find the " right to setoff '' to be a very unethical practice, because it essentially makes a person responsible for a completely random person. The bank does not require my name to be on XXXX XXXX 's acct in order to make me liable, so long as my husband is a member of both. I barely even know the guy!! Moreover, BoA never let me know about XXXX XXXX 's acct, which I think they should have if they are going to hold me responsible. The best part - even if I knew about it, I would n't be able to take money out of XXXX XXXX 's acct since I dont have access, but somehow I am responsible for his overdraft!! I also argued with the bank that since XXXX XXXX was so grossly overdrawn, a more appropriate course of action would be for them to close the acct and send it to collections on XXXX XXXX 's SSN, as I personally essentially had absolutely NOTHING to do with his finances. The bank, of course, rejected that idea. I believe that BoA omits discussing major clauses with its customers in their own benefit and to the disadvantage of their customers. They implement highly unethical practices and are extremely hesitant to give their customers a refund, even when the customer is right. At the end of the day, they should return the {$400.00} back to me and hold XXXX XXXX responsible for his own finances. Institution involved : Bank of America XXXX XXXX XXXX XXXX XXXX XXXX, FL XXXX XXXX XXXX XXXXXXXXXXXX PH : XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-12

Belville, NC

Application, originator, mortgage broker

Mortgage: Other mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-11

Newark, NJ

Account opening, closing, or management

Bank account or service: Checking account

Complaint: Over ( 7 ) years ago, I was an account holder with Bank of America. During said time I rented a vehicle from XXXX and paid for the car rental weekly. During said time, while traveling out of town to visit friends in South Carolina, a tire came of the resulting in a dangerous situation/accident. During which time, I did contact the rental company and notify them of the incident. My bank account was closed as a result. The XXXX rental alleged that I owed them for the vehicle, when I had insurance. They sued bank of America for the funds and they claimed to never have collected on this rental. To date I am unable to open a bank account with any bank based on incorrect information presented to the bank. I would like my rights to open an account with a lending institutions/bank restored. Including my car rental privileged.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with non-monetary relief

Disputed: No Timely Response

2016-09-11

Council, NC

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: Federal law, The Truth in Lending Act, requires a written notification to the borrower if the ownership of your mortgage is sold, assigned or otherwise transferred. This notice is in addition to any notices you may receive about the transfer of the servicing rights for your loan. On XX/XX/2016 Countrywide Bank, XXXX. assigned and transferred to Bank of America , N.A . all its right, title, and interest in and to a certain Deed of Trust for borrower XXXX XXXX XXXX, XXXX and XXXX XXXX XXXX for a property located at XXXX XXXX XXXX XXXX, XXXX XXXX, NC XXXX ( Recorded in XXXX XXXX XXXX, NC on XX/XX/2016 at XXXX ). Why was no notification sent to me, the borrower, that this transfer had taken place?
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-11

NH

Cash advance

Credit card:

Complaint: On XXXX/XXXX/16 I went into Bank of America to get a loan of up to {$1000.00} however, BoA now only uses credit cards and no longer gives personal loans. Needing the money and thinking I would also be able to build my credit, I decided to go with the BoA Cash XXXX card and was told by the banker who was helping me that he will be putting a " rush '' on the card and will arrive on Monday, XXXX/XXXX/16 but may take as long as Friday XXXX/XXXX/16. After Wednesday XXXX/XXXX/16 passes I ask about my card and am told that if I need any credit card assistance to call the XXXX number for CC complaints, again all I am told is that is has been shipped out from Delaware on XXXX/XXXX/16 and should be arriving shortly. Quite annoyed at this point I call the banker who helped me again and tell him my CC has yet to arrive. My banker and I proceeded to the XXXX CC complaint on a 3-way conference call to which the woman on the line told us my address was not accepted and they returned the card to sender. The woman then tells me she can have it shipped to a XXXX Store for me to which i agreed to and that it will arrive on the XXXX of XXXX and to call the BoA CC complaint to get my tracking number from them. XXXX/XXXX/16 at XXXX I called XXXX XXXX Stores close to my location to see if my package arrived to which they told me no. Shortly after I proceeded to call the XXXX CC number again and explain to the woman all that happened and that I am to receive my card today XXXX/XXXX/16 but to my surprise she told me they never mailed it out through XXXX, have no tracking number, and also no notes of ever having a conversation about mailing through XXXX. It is now XXXX/XXXX/16 as I write this and still have yet to receive my card. This leaves me furious because I put in the last of my money ( {$99.00} ) thinking I could get help as well as build my credit however it is now 36 days later, I am out of {$99.00} and still have absolutely no idea where my credit card is and as it sounds, BoA does not know where my card is either.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: Yes Timely Response

2016-09-11

Yonkers, NY

Using a debit or ATM card

Bank account or service: Savings account

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-11

East Rockaway, NY

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: In XXXX of 2016 a formal notice of dispute was sent certified mail to Bank of America demanding the validation and verification of an allege loan debt, Bank of America failed to respond. In XXXX of 2016 a second notice was sent demanding validation and verification of an alleged debt, Bank of America failed to validate the debt. in XXXX of 2016 a third notice was sent and Bank of America did not validate nor verify the debt. Bank of America is in violation of Fair Debt Collection Practices Acts that require a debt collector to validate the debt they are attempting to collect on. Bank of America is harassing me, conspiring to defraud me out of my property, and violating Federal Laws which demand a debt collector to cease and desist collection activities prior to validation of alleged debt. Bank of America continues to attempt to collect on an alleged debt without strict proof of its existence. This falls under Frauds and Swindles laws. Bank of America is sending mail with false and fictitious names, a criminal conduct falling under Title 18 U.S.C. 1842 - Fictitious Names. I also reviewed my credit report and noticed Bank of America published negative remarks to all XXXX credit agencies. This is defamation of character and a violation of Fair Credit Report Act
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: Yes Timely Response

2016-09-11

Lewisville, TX

Taking/threatening an illegal action

Debt collection: Auto

Threatened to sue on too old debt
Complaint: A Representative of XXXX continues to call & harass me over a time-barred debt with Bank of America. I have been threatened with law suit filing and have continued to advise that this debt was disposed of 15+ years ago. I have asked the representative to cease and desist yet they continue to harass me with threatening phone calls.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-11

Council, NC

Application, originator, mortgage broker

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: On XXXX Bank of America stated that I was not eligible for the Bank of America Capitalization Loan Modification Program due to income not meeting program eligibility. The income calculated by Bank of America was {$17000.00} per month. Bank of America calculated PITA to be {$65000.00} ( {$5400.00} per month ). Yearly income calculated with an income of {$17000.00} per month would be {$210000.00} which clearly would cover the costs. Why was I refused the modification? Did Bank of America error in their calculations?
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-11

Albuquerque, NM

Account opening, closing, or management

Bank account or service: Checking account

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-11

NY

Credit line increase/decrease

Credit card:

Complaint: Good Morning, Please consider the following communication a formal complaint and a request for an investigation of age discrimination, and retaliatory and predatory financial conduct, by the Bank of America VISA in its administration and management of my credit card account.. BACKGROUND : I have maintained a {$34000.00}. line of credit on the above referenced credit card account with the Bank of America for over eighteen ( 18 ) years. The bank 's records will reflect that during those eighteen years, thousands of dollars in financial transactions have passed through this account. The bank 's records will also reflect that during the history of my account, I have never missed a payment. In fact, an examination of the monthly statements over the past eighteen ( 18 ) years will reveal that scheduled payments were not only made on time, and in full, each month but were often supplemented throughout each month by additional, non-scheduled, payments as a matter of continuing financial practice on my part. FACTS OF THE COMPLAINT : In XXXX 2016, I conferred with my financial adviser at XXXX in order to conduct a review of my finances, and a possible restructuring of my finances in preparation for two imminent events in my life ; my eventual retirement and financing for my granddaughter 's college education. What evolved was a financial strategy that included the transfer of the Bank of America VISA Card balance to a XXXX. Subsequent to this decision, on XXXX XXXX, 2016, the current full standing balance of {$8100.00}. was electronically transferred to the XXXX. On XXXX XXXX, 2016, I received an unsigned, and obviously computer generated letter from Bank of America VISA advising me that my credit line had been reduced to {$500.00} to include {$200.00}. of that amount for cash advances. The letter cited " Recent delinquency on one or more accounts '' and " Balances relative to your credit lines are too high '' and referenced a XXXX XXXX XXXX " FICO '' Score of XXXX as the basis of their action. While at the same time stating that " your account remains open and your current agreement remains in effect. '' On XXXX XXXX, 2016, I immediately contacted Life Lock and queried my credit report and found the following information : XXXX : XXXX XXXX : XXXX XXXX : XXXX To my surprise, I also found the same remarks in the credit report as reflected in the Bank of America VISA 'S letter. The XXXX Credit Report correctly reflected no entries by Bank of America VISA ; XXXX revolving accounts as current, and no derogatory information of any kind. As I explored the issue with a Bank of America VISA Account Representative with the goal of restoring my credit line, I confirmed that when the XXXX 2016 balance transfer took place another charge was made on the account and there was an outstanding balance of {$58.00} that had not been addressed. However, XXXX payments of {$14.00} had been previously electronically scheduled for XXXX XXXX ; XXXX ; XXXX and XXXX, 2016 and that XXXX payment had already posted to the account. The Bank of America VISA account records will reflect the scheduling and these postings. A final payment on the account in the amount of {$1.00} was made prior to XXXX XXXX, 2016. A day, or so after the Bank of America VISA Account Representative " looked into '' this, she contacted me by phone to advise me that I had been approved for a {$15000.00}. line of credit. Despite a promise to look further into my account, I never heard from anyone again. However, what I find most troubling in addition to its possibly illegal and unethical practices is that Bank of America VISA 'S business model is obviously unable to identify its long term, reliable, paying client base and leaves this critical function to computers and scripts. .
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with non-monetary relief

Disputed: No Timely Response

2016-09-10

Elkins Park, PA

Deposits and withdrawals

Bank account or service: Savings account

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-10

North Hills, NC

Using a debit or ATM card

Bank account or service: Other bank product/service

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-10

Baltimore, MD

Deposits and withdrawals

Bank account or service: Checking account

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-10

Mount Prospect, IL

Settlement process and costs

Mortgage: Home equity loan or line of credit

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-10

Philadelphia, PA

Convenience checks

Credit card:

Complaint: In XXXX of XXXX I took advantage of a promotional deal that Bank of America was running through my credit card. I used a check they issued with a 0 % APR until XXXX XXXX. Unfortunately my financial situation did not allow me to pay off this debt by the end promotional period. So starting XXXX XXXX I have been paying the agreed upon 21 % APR on the remaining balance that is subject to this rate. I unfortunately hit a difficult financial time and maxed this credit card out. I am unable to make payments beyond the minimum balance at this time, but I have not missed a payment and continue to pay on time. For standard purchases the APR is 14.99 %. Here is where I am upset : It is my understanding that the minimum payment is calculated by adding the interest accumulated on each outstanding balance ( the 21.99 % and the 14.99 % ) and 1 % of the overall balance due. It is also my understanding that if I pay the minimum payment the whole payment is applied to the standard account ( the account with the lower interest rate ). This means that the balance of the larger interest actually increases each month because the interest earned from the previous month is added to the Balance Subject to Interest Rate ( BSIR ). In XXXX XXXX the was {$4700.00} for my 21.99 % portion of my BoA balance. As of my last statement ( ending XXXX XXXX, XXXX ) I now owe {$5500.00} for my 21.99 % portion of my BoA balance. This BSIR increases by over {$100.00} each month, and the interest amount increases each month because the BSIR increases. I have talked to BoA. They claim that the Fair Credit Act directs them as to how to apply my minimum payment across multiple APR balances on XXXX card. Now I have read the Fair Credit Act. It was boring. It does dictate how to apply payments OVER the minimum. It does not clearly state how minimum payments should be applied. It is my assertion that BoA is exploiting a loop hole and hiding behind that FCA. Minimum payments should not penalize consumers by increasing debt. Money should be applied to the accounts so that in this case the balance for the higher interest portion does not increase each month. In order for this to stop happening to my account I must pay enough to pay the minimum payment plus the higher interest portion of my debt, least I increase the debt in the higher interest account all over again.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-10

Tarzana, CA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Bank of America mortgage has recently disabled their option to allow extra principal payments to pay our loan down. It used to be on their full website online as an option but they just decided to get rid of it. I was shocked to hear that the only option to make extra principal payments is to go drive to a bank or mail it in. We are unable to even try to do this by phone as BOFA will charge you. After contacting executive complaints Dept even they are aware how ridiculous this is. In today 's technology and especially when this was an option before how in the world can they think they can get away with this?? Driving to a bank or mailing it in is not only inconvenient, time consuming and costs us consumers interest and money not to be able to pay off our loan. It 's clear they are trying some deceptive option to make it difficult for us to pay off our mortgage quicker. I hope this gets around and something gets resolved or fixed. I 'm sure it will affect millions of customers.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response