Credit card -- Problem with a purchase shown on your statement -- Complaint #11366753
Bank of America Fails to Resolve Credit Card Purchase Dispute
Complaint Overview
Complaint ID: 11366753
Company: Bank Of America, National Association
Product: Credit card
Sub-Product: General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement
Sub-Issue: Credit card company isn't resolving a dispute about a purchase on your statement
State: Florida
ZIP Code: 33178
Date Received: 2024-12-31T12:00:00-05:00
Date Sent to Company: 2025-01-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Referral
Risk Assessment
Risk Level: medium
The company's failure to adequately address a disputed charge suggests potential issues with their dispute resolution process, which could impact other consumers facing similar problems.
Consumer Sentiment: negative
Topics: Credit card disputes, Purchase disputes, Dispute resolution
AI Analysis
CFPB complaint 11366753 was filed against BANK OF AMERICA, NATIONAL ASSOCIATION regarding Credit card (General-purpose credit card or charge card), specifically about "Problem with a purchase shown on your statement". A Bank of America customer disputed a purchase on their credit card statement, but the company closed the dispute without resolution. The complaint was received on December 31, 2024 from Florida. The company responded with "Closed with explanation".
What You Should Do -- Consumer Action Plan
Consumers should meticulously document all communication and evidence related to a disputed purchase and be prepared to escalate the issue if the initial resolution is unsatisfactory.
Legal Context & Consumer Protection Laws
This situation touches upon consumer protection laws like the Fair Credit Billing Act (FCBA), which outlines procedures for disputing credit card charges.
Regulatory Insight
The CFPB's involvement and the 'Closed with explanation' status indicate that while the company provided a reason, it may not have been satisfactory to the consumer, highlighting a need for clear and fair dispute handling.
Resolution Likelihood
mixed
State-Specific Consumer Protections
The consumer is located in Florida, and state-specific consumer protection laws may also apply to this dispute.
Industry Comparison
Credit card companies generally have established dispute resolution processes, but the effectiveness and fairness of these processes can vary significantly.
Related Issues
Frequently Asked Questions
What is CFPB complaint 11366753 about?
CFPB complaint 11366753 involves Credit card (General-purpose credit card or charge card). The consumer reported an issue with "Problem with a purchase shown on your statement", specifically "Credit card company isn't resolving a dispute about a purchase on your statement". This complaint was filed against BANK OF AMERICA, NATIONAL ASSOCIATION on December 31, 2024.
Which company is complaint 11366753 filed against?
Complaint 11366753 was filed against BANK OF AMERICA, NATIONAL ASSOCIATION. You can view all complaints against this company on their profile page at /company/bank-of-america-national-association.
What was the company's response to complaint 11366753?
BANK OF AMERICA, NATIONAL ASSOCIATION responded with "Closed with explanation". The response was marked as timely by the CFPB.
When was complaint 11366753 filed?
Complaint 11366753 was received by the CFPB on December 31, 2024. It was sent to BANK OF AMERICA, NATIONAL ASSOCIATION on January 3, 2025.
What state was complaint 11366753 filed from?
Complaint 11366753 was filed from Florida. You can view all complaints from this state at /state/FL.
Was the consumer satisfied with the resolution of complaint 11366753?
Dispute information is not available for complaint 11366753.
What product category is complaint 11366753 about?
Complaint 11366753 is categorized under "Credit card", specifically "General-purpose credit card or charge card". This is one of the product categories tracked by the CFPB.
How was complaint 11366753 submitted?
Complaint 11366753 was submitted via Referral. The CFPB accepts complaints through web, phone, mail, email, fax, and referral channels.
What are the consumer's legal options for complaint 11366753?
This situation touches upon consumer protection laws like the Fair Credit Billing Act (FCBA), which outlines procedures for disputing credit card charges. This relates to a Credit card complaint against BANK OF AMERICA, NATIONAL ASSOCIATION involving "Problem with a purchase shown on your statement".
How likely is complaint 11366753 to be resolved?
Resolution likelihood: mixed. The company's current response is "Closed with explanation". The company did respond in a timely manner, which is a positive indicator.
What does the risk level mean for complaint 11366753?
This complaint is rated as medium risk. The company's failure to adequately address a disputed charge suggests potential issues with their dispute resolution process, which could impact other consumers facing similar problems.
What regulatory actions apply to complaint 11366753?
The CFPB's involvement and the 'Closed with explanation' status indicate that while the company provided a reason, it may not have been satisfactory to the consumer, highlighting a need for clear and fair dispute handling. The CFPB tracks complaints like this one to identify patterns of misconduct across the Credit card industry.
What should the consumer do about complaint 11366753?
Consumers should meticulously document all communication and evidence related to a disputed purchase and be prepared to escalate the issue if the initial resolution is unsatisfactory.
Are there state-specific protections for complaint 11366753?
The consumer is located in Florida, and state-specific consumer protection laws may also apply to this dispute. This complaint was filed from Florida.
How does complaint 11366753 compare to industry norms?
Credit card companies generally have established dispute resolution processes, but the effectiveness and fairness of these processes can vary significantly.
What specific explanation did Bank of America provide for closing the dispute?
The provided data indicates the dispute was 'Closed with explanation,' but the exact nature of that explanation is not detailed here. Further investigation would be needed to understand the company's reasoning.
What are the next steps for a consumer if their credit card dispute is closed unsatisfactorily?
A consumer can escalate the complaint to the CFPB, consider mediation or arbitration if available, or seek legal counsel to understand their rights and options.
Disclaimer
This analysis is AI-generated and does not constitute legal advice.