Compiled from Public Data by FairShake
The US government’s Consumer Financial Protection Bureau (CFPB) collects complaints against financial companies.
In 2016, the CFPB received 9784 complaints against Bank of America. Bank of America ranked Number 5 among all financial companies for the most complaints.
Date of Complaint: May 11, 2016
Company Official Name: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NC
Product: Credit card
Issue: Credit line increase/decrease
Full Complaint:
I have an account with Bank of America and recently I got a letter in the mail stating that my credit limit was decreased and that they did a random review and decided upon that. I then called the company stating that because they did decrease the limit my debt to credit ratio will be higher. I was assured because I have not used the card it would not be up. Well a week later I got a statement stating that my bill will go from {.00} to {0.00} this is all in the span of a week. I reached out to several associates including a supervisor and the companies consolidation firm and was told I didnt qualify for anything because I had a great payment history. I was confused because the increase on my low income would be hard to pay considering my budget. I was also told that if I can afford one payment I could afford the other and try government agencies like welfare and food stamps. I have never had a company decrease my limit and had a huge jump in payment when the card hasnt been used in months.
Response Type: Closed with explanation
Public Response:
Company has responded to the consumer and the CFPB and chooses not to provide a public response
Date of Complaint: May 11, 2016
Company Official Name: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Mortgage
Sub-Product: Conventional fixed mortgage
Issue: Settlement process and costs
Full Complaint:
My husband and I applied for a loan through Bank of America on XXXX 2014. Prior to that we got a pre-qualification letter signed. They denied the loan after an extension was made after a signed 30 day escrow due to a Fidelity Bond issue. They collected upfront a {0.00} appraisal fee, {.00} Bank of America ‘s own Homeowner ‘s Association Certificate, {.00} XXXX XXXX XXXX doc ‘s. The condo appraised for more than the asking price, our debt to income ratio was good, we had an excellent FICO Score of XXXX XXXX 20 % – 25 % down. We signed a XXXX escrow with the buyer, which the owner extended for Bank of America due THEIR to the Fidelity Bond issue. Bank of America wanted the owner ‘s ( XXXX owner ‘s in total ) of the condo to have a Fidelity Bond ( NOTE : NO OWNER handles the money, it is done by a professional company, The XXXX XXXX ). The XXXX XXXX handles repairs, maintenance, collecting HOA dues, etc. Bank of America decline this loan for the sole reason of this Fidelity Bond issue. This left us all hanging including the owner and realtor for an extended time XXXX XXXX, 2014. Bank of America would not refund {0.00} total from all the fees we paid upfront even when this was solely their call and not within the XXXX Guidelines.
Response Type: Closed with explanation
Public Response:
Company has responded to the consumer and the CFPB and chooses not to provide a public response
Date of Complaint: May 11, 2016
Company Official Name: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL
Product: Debt collection
Sub-Product: Mortgage
Issue: Cont’d attempts collect debt not owed
Sub-Issue: Debt was discharged in bankruptcy
Response Type: Closed with explanation
Public Response:
Company has responded to the consumer and the CFPB and chooses not to provide a public response
Date of Complaint: May 11, 2016
Company Official Name: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TX
Product: Mortgage
Sub-Product: Home equity loan or line of credit
Issue: Application, originator, mortgage broker
Response Type: Closed with explanation
Public Response:
Company has responded to the consumer and the CFPB and chooses not to provide a public response
Date of Complaint: May 11, 2016
Company Official Name: BANK OF AMERICA, NATIONAL ASSOCIATION
State: PA
Product: Credit card
Issue: Credit line increase/decrease
Response Type: Closed with monetary relief
Public Response:
Company has responded to the consumer and the CFPB and chooses not to provide a public response
Date of Complaint: May 11, 2016
Company Official Name: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MA
Product: Mortgage
Sub-Product: Other mortgage
Issue: Loan servicing, payments, escrow account
Response Type: Closed with explanation
Public Response:
Company has responded to the consumer and the CFPB and chooses not to provide a public response
Date of Complaint: May 11, 2016
Company Official Name: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NV
Product: Mortgage
Sub-Product: Other mortgage
Issue: Loan modification,collection,foreclosure
Response Type: Closed with explanation
Public Response:
Company has responded to the consumer and the CFPB and chooses not to provide a public response
Date of Complaint: May 11, 2016
Company Official Name: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NJ
Product: Bank account or service
Sub-Product: Savings account
Issue: Account opening, closing, or management
Response Type: Closed with monetary relief
Public Response:
Company has responded to the consumer and the CFPB and chooses not to provide a public response
Date of Complaint: May 11, 2016
Company Official Name: BANK OF AMERICA, NATIONAL ASSOCIATION
State: AZ
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Loan modification,collection,foreclosure
Response Type: Closed with explanation
Public Response:
Company has responded to the consumer and the CFPB and chooses not to provide a public response
Date of Complaint: May 11, 2016
Company Official Name: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NJ
Product: Credit card
Issue: Billing disputes
Response Type: Closed with non-monetary relief
Public Response:
Company has responded to the consumer and the CFPB and chooses not to provide a public response
FairShake accessed this complaint from the public archives of the Consumer Financial Protection Bureau (CFPB). You can file your own complaint with the CFPB here.