Credit card -- Fees or interest -- Complaint #11370062
Bank of America Credit Card Fee Dispute Resolved with Monetary Relief
Complaint Overview
Complaint ID: 11370062
Company: Bank Of America, National Association
Product: Credit card
Sub-Product: General-purpose credit card or charge card
Issue: Fees or interest
Sub-Issue: Problem with fees
State: California
ZIP Code: 92503
Date Received: 2024-12-31T12:00:00-05:00
Date Sent to Company: 2025-01-03T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Referral
Risk Assessment
Risk Level: low
The issue was resolved with monetary relief, indicating a relatively low risk of significant ongoing consumer harm or widespread regulatory concern.
Consumer Sentiment: positive
Topics: Credit card fees, Monetary relief
AI Analysis
CFPB complaint 11370062 was filed against BANK OF AMERICA, NATIONAL ASSOCIATION regarding Credit card (General-purpose credit card or charge card), specifically about "Fees or interest". A consumer reported an issue with fees on their Bank of America general-purpose credit card, which was closed with monetary relief. The complaint was received on December 31, 2024 from California. The company responded with "Closed with monetary relief".
What You Should Do -- Consumer Action Plan
Consumers should carefully review their credit card statements for any unexpected fees and contact their card issuer promptly to dispute them.
Legal Context & Consumer Protection Laws
Credit card agreements typically outline all applicable fees, and disputes may arise if these are not clearly disclosed or are applied incorrectly.
Regulatory Insight
This case highlights the importance of transparent fee disclosures and the CFPB's role in mediating disputes that result in monetary relief for consumers.
Resolution Likelihood
likely
State-Specific Consumer Protections
In California, consumers have specific rights regarding credit card fees and disputes, which may have influenced the resolution.
Industry Comparison
Fee disputes are common in the credit card industry, but resolutions with monetary relief suggest the issuer addressed the specific complaint effectively.
Related Issues
Frequently Asked Questions
What is CFPB complaint 11370062 about?
CFPB complaint 11370062 involves Credit card (General-purpose credit card or charge card). The consumer reported an issue with "Fees or interest", specifically "Problem with fees". This complaint was filed against BANK OF AMERICA, NATIONAL ASSOCIATION on December 31, 2024.
Which company is complaint 11370062 filed against?
Complaint 11370062 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 11370062?
BANK OF AMERICA, NATIONAL ASSOCIATION responded with "Closed with monetary relief". The response was marked as timely by the CFPB.
When was complaint 11370062 filed?
Complaint 11370062 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 11370062 filed from?
Complaint 11370062 was filed from California. You can view all complaints from this state at /state/CA.
Was the consumer satisfied with the resolution of complaint 11370062?
Dispute information is not available for complaint 11370062.
What product category is complaint 11370062 about?
Complaint 11370062 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 11370062 submitted?
Complaint 11370062 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 11370062?
Credit card agreements typically outline all applicable fees, and disputes may arise if these are not clearly disclosed or are applied incorrectly. This relates to a Credit card complaint against BANK OF AMERICA, NATIONAL ASSOCIATION involving "Fees or interest".
How likely is complaint 11370062 to be resolved?
Resolution likelihood: likely. The company's current response is "Closed with monetary relief". The company did respond in a timely manner, which is a positive indicator.
What does the risk level mean for complaint 11370062?
This complaint is rated as low risk. The issue was resolved with monetary relief, indicating a relatively low risk of significant ongoing consumer harm or widespread regulatory concern.
What regulatory actions apply to complaint 11370062?
This case highlights the importance of transparent fee disclosures and the CFPB's role in mediating disputes that result in monetary relief for consumers. The CFPB tracks complaints like this one to identify patterns of misconduct across the Credit card industry.
What should the consumer do about complaint 11370062?
Consumers should carefully review their credit card statements for any unexpected fees and contact their card issuer promptly to dispute them.
Are there state-specific protections for complaint 11370062?
In California, consumers have specific rights regarding credit card fees and disputes, which may have influenced the resolution. This complaint was filed from California.
How does complaint 11370062 compare to industry norms?
Fee disputes are common in the credit card industry, but resolutions with monetary relief suggest the issuer addressed the specific complaint effectively.
What types of fees are most commonly disputed on credit cards?
Commonly disputed fees include annual fees, late payment fees, over-limit fees, and foreign transaction fees, often due to lack of clarity or perceived unfairness.
What does 'closed with monetary relief' typically mean in a CFPB complaint?
It signifies that the consumer received a financial resolution, such as a refund or credit, as a result of their complaint being investigated and addressed by the financial institution.
Disclaimer
This analysis is AI-generated and does not constitute legal advice.