Checking or savings account -- Managing an account -- Complaint #18700132
Complaint Overview
Complaint ID: 18700132
Company: Bank Of America, National Association
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Funds not handled or disbursed as instructed
State: Rhode Island
ZIP Code: 02889
Date Received: 2026-01-13T12:00:00-05:00
Date Sent to Company: 2026-01-13T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I was the victim of a scam where someone pretended to be Bank of America. I received a text message and then a phone call warning me about supposed fraudulent activity on my account. The caller sounded legitimate and claimed they were trying to help protect my money. Based on what I was told, I was instructed to move {$1000.00} into my XXXX XXXX account to secure the funds, and I did so believing I was following my banks guidance. Almost immediately after that, my XXXX XXXX and XXXX XXXX account were taken over by someone else. I lost access to my account, and XXXX later confirmed that my XXXX XXXX had been compromised. As a result, my phone had to be wiped and my XXXX XXXX reset. XXXX XXXX XXXX, which issues XXXX XXXX, told me they classified the situation as identity fraud, froze the account, and informed me that the {$1000.00} had already been spent by the scammers at XXXX. Bank of America initially issued a provisional credit while investigating, but later denied my claim on the basis that I authorized the transfer. Their denial did not address the fact that I was deceived by someone impersonating the bank, that my account was taken over, or that the transaction occurred as a result of fraud and misrepresentation. It appears that Bank of America relied on card network or chargeback rules rather than applying the federal consumer protection standard under Regulation E ( 12 CFR Part 1005 ), which requires actual authority. I did not knowingly authorize scammers to take my money, and consent obtained through deception should not be treated as valid authorization. I reported the fraud promptly and followed all instructions to escalate the issue in writing. I am attaching Bank of Americas written denial letter dated XX/XX/year>, which confirms the reversal of the {$1000.00} provisional credit and states that the claim was denied solely because I initiated the transfer. This transfer was made only after I was deceived and pressured by individuals impersonating Bank of America, and was not a voluntary or informed authorization.
Frequently Asked Questions
What is Complaint #18700132 about?
Complaint #18700132 was filed against Bank Of America, National Association regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2026-01-13T12:00:00-05:00.
How did Bank Of America, National Association respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Bank Of America, National Association?
Yes, visit the Bank Of America, National Association company profile at readthecomplaint.com/company/bank-of-america-national-association to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.