Checking or savings account -- Closing an account -- Complaint #20846915
Bank of America Accused of Hindering Account Closures
Complaint Overview
Complaint ID: 20846915
Company: Bank Of America, National Association
Product: Checking or savings account
Sub-Product: Checking account
Issue: Closing an account
Sub-Issue: Can't close your account
State: Colorado
ZIP Code: 80123
Date Received: 2026-04-01T12:00:00-05:00
Date Sent to Company: 2026-04-01T12:00:00-05:00
Company Response: In progress
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Postal mail
Risk Assessment
Risk Level: medium
The inability to close an account can lead to ongoing fees, unauthorized transactions, and identity theft risks for the consumer.
Consumer Sentiment: negative
Topics: Account Closure, Checking Account, Consumer Rights
AI Analysis
CFPB complaint 20846915 was filed against BANK OF AMERICA, NATIONAL ASSOCIATION regarding Checking or savings account (Checking account), specifically about "Closing an account". A consumer is unable to close their checking account with Bank of America, National Association, despite attempting to do so via postal mail. The complaint was received on April 1, 2026 from Colorado. The company responded with "In progress".
What You Should Do -- Consumer Action Plan
Consumers should keep detailed records of all communication and attempts to close an account, including dates, times, and methods used.
Legal Context & Consumer Protection Laws
Consumers have a right to close their accounts, and financial institutions must have reasonable procedures in place to facilitate this process.
Regulatory Insight
Regulators are increasingly scrutinizing financial institutions' customer service practices, including account closure processes, to ensure fair treatment.
Resolution Likelihood
mixed
State-Specific Consumer Protections
This issue is occurring in Colorado, where consumer protection laws may offer additional recourse.
Industry Comparison
While not unique, difficulties in closing accounts are a recurring complaint across the banking industry.
Related Issues
Frequently Asked Questions
What is CFPB complaint 20846915 about?
CFPB complaint 20846915 involves Checking or savings account (Checking account). The consumer reported an issue with "Closing an account", specifically "Can't close your account". This complaint was filed against BANK OF AMERICA, NATIONAL ASSOCIATION on April 1, 2026.
Which company is complaint 20846915 filed against?
Complaint 20846915 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 20846915?
BANK OF AMERICA, NATIONAL ASSOCIATION responded with "In progress". The response was marked as timely by the CFPB.
When was complaint 20846915 filed?
Complaint 20846915 was received by the CFPB on April 1, 2026. It was sent to BANK OF AMERICA, NATIONAL ASSOCIATION on April 1, 2026.
What state was complaint 20846915 filed from?
Complaint 20846915 was filed from Colorado. You can view all complaints from this state at /state/CO.
Was the consumer satisfied with the resolution of complaint 20846915?
Dispute information is not available for complaint 20846915.
What product category is complaint 20846915 about?
Complaint 20846915 is categorized under "Checking or savings account", specifically "Checking account". This is one of the product categories tracked by the CFPB.
How was complaint 20846915 submitted?
Complaint 20846915 was submitted via Postal mail. The CFPB accepts complaints through web, phone, mail, email, fax, and referral channels.
What are the consumer's legal options for complaint 20846915?
Consumers have a right to close their accounts, and financial institutions must have reasonable procedures in place to facilitate this process. This relates to a Checking or savings account complaint against BANK OF AMERICA, NATIONAL ASSOCIATION involving "Closing an account".
How likely is complaint 20846915 to be resolved?
Resolution likelihood: mixed. The company's current response is "In progress". The company did respond in a timely manner, which is a positive indicator.
What does the risk level mean for complaint 20846915?
This complaint is rated as medium risk. The inability to close an account can lead to ongoing fees, unauthorized transactions, and identity theft risks for the consumer.
What regulatory actions apply to complaint 20846915?
Regulators are increasingly scrutinizing financial institutions' customer service practices, including account closure processes, to ensure fair treatment. 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 20846915?
Consumers should keep detailed records of all communication and attempts to close an account, including dates, times, and methods used.
Are there state-specific protections for complaint 20846915?
This issue is occurring in Colorado, where consumer protection laws may offer additional recourse. This complaint was filed from Colorado.
How does complaint 20846915 compare to industry norms?
While not unique, difficulties in closing accounts are a recurring complaint across the banking industry.
What specific documentation should a consumer retain when attempting to close a bank account?
Consumers should retain copies of all written correspondence, confirmation numbers for phone calls, and any receipts or statements showing the account is no longer active.
What are the potential consequences if a bank fails to close an account as requested?
Failure to close an account can result in continued fees, potential for unauthorized transactions, and a negative impact on the consumer's credit if the account is mistakenly reported as delinquent.
Disclaimer
This analysis is AI-generated and does not constitute legal advice.