Checking or savings account -- Managing an account -- Complaint #16302782
Bank of America Fails to Credit Deposit, Customer Complaint Closed
Complaint Overview
Complaint ID: 16302782
Company: Bank Of America, National Association
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
State: Texas
ZIP Code: 76065
Date Received: 2025-09-30T12:00:00-05:00
Date Sent to Company: 2025-10-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Referral
Risk Assessment
Risk Level: medium
The bank's failure to properly credit a deposit can lead to overdraft fees, loss of funds, and damage to the consumer's financial standing.
Consumer Sentiment: negative
Topics: Checking account, Deposit error, Bank of America
AI Analysis
CFPB complaint 16302782 was filed against BANK OF AMERICA, NATIONAL ASSOCIATION regarding Checking or savings account (Checking account), specifically about "Managing an account". A consumer's checking account deposit was not credited by Bank of America, leading to a closed complaint with an explanation. The complaint was received on September 30, 2025 from Texas. The company responded with "Closed with explanation".
What You Should Do -- Consumer Action Plan
Consumers should always verify that their deposits have been credited to their account promptly and keep records of all transactions.
Legal Context & Consumer Protection Laws
This situation may involve violations of federal laws such as the Truth in Savings Act (TISA) or Regulation DD, which require timely crediting of deposits and accurate account statements.
Regulatory Insight
Banks must have robust internal controls to ensure accurate and timely processing of all customer transactions, including deposits.
Resolution Likelihood
likely
State-Specific Consumer Protections
In Texas, consumers have access to state-level consumer protection agencies that can assist with financial disputes.
Industry Comparison
This issue is common across the banking industry, where errors in deposit processing can occur.
Related Issues
Frequently Asked Questions
What is CFPB complaint 16302782 about?
CFPB complaint 16302782 involves Checking or savings account (Checking account). The consumer reported an issue with "Managing an account", specifically "Deposits and withdrawals". This complaint was filed against BANK OF AMERICA, NATIONAL ASSOCIATION on September 30, 2025.
Which company is complaint 16302782 filed against?
Complaint 16302782 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 16302782?
BANK OF AMERICA, NATIONAL ASSOCIATION responded with "Closed with explanation". The response was marked as timely by the CFPB.
When was complaint 16302782 filed?
Complaint 16302782 was received by the CFPB on September 30, 2025. It was sent to BANK OF AMERICA, NATIONAL ASSOCIATION on October 1, 2025.
What state was complaint 16302782 filed from?
Complaint 16302782 was filed from Texas. You can view all complaints from this state at /state/TX.
Was the consumer satisfied with the resolution of complaint 16302782?
Dispute information is not available for complaint 16302782.
What product category is complaint 16302782 about?
Complaint 16302782 is categorized under "Checking or savings account", specifically "Checking account". This is one of the product categories tracked by the CFPB.
How was complaint 16302782 submitted?
Complaint 16302782 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 16302782?
This situation may involve violations of federal laws such as the Truth in Savings Act (TISA) or Regulation DD, which require timely crediting of deposits and accurate account statements. This relates to a Checking or savings account complaint against BANK OF AMERICA, NATIONAL ASSOCIATION involving "Managing an account".
How likely is complaint 16302782 to be resolved?
Resolution likelihood: likely. 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 16302782?
This complaint is rated as medium risk. The bank's failure to properly credit a deposit can lead to overdraft fees, loss of funds, and damage to the consumer's financial standing.
What regulatory actions apply to complaint 16302782?
Banks must have robust internal controls to ensure accurate and timely processing of all customer transactions, including deposits. The CFPB tracks complaints like this one to identify patterns of misconduct across the Checking or savings account industry.
What should the consumer do about complaint 16302782?
Consumers should always verify that their deposits have been credited to their account promptly and keep records of all transactions.
Are there state-specific protections for complaint 16302782?
In Texas, consumers have access to state-level consumer protection agencies that can assist with financial disputes. This complaint was filed from Texas.
How does complaint 16302782 compare to industry norms?
This issue is common across the banking industry, where errors in deposit processing can occur.
What steps should a consumer take if a deposit is not credited?
Contact the bank immediately to report the issue, provide transaction details, and request a resolution. If the bank is unresponsive, consider filing a complaint with the CFPB or relevant state agencies.
What are the potential consequences of a bank failing to credit a deposit?
This can result in bounced checks, overdraft fees, inability to access funds, and damage to the consumer's credit score.
Disclaimer
This analysis is AI-generated and does not constitute legal advice.