Checking or savings account -- Managing an account -- Complaint #4781165
Complaint Overview
Complaint ID: 4781165
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: Nevada
ZIP Code: 894XX
Date Received: 2021-10-05T12:00:00-05:00
Date Sent to Company: 2021-10-05T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
On XX/XX/2021, I deposited a check from my attorney 's trust account for {$6000.00} for an emergency partial insurance settlement because of my dire financial circumstances. See attached check stub and deposit receipt. I was told and receipt confirms that funds would be available on XX/XX/2021. However, I was notified by text ( see attached ) that those funds would be put on hold until XX/XX/2021. The reason given that the check " would likely be returned ''. This claim is baseless. It slander my attorney as well as my character without grounds. The check was from a legal trust account used by attorneys to hold settlement monies until all parties are given their fair disbursements. In addition, I have no history of depositing checks that have been returned. According to the CFPB rules : 1 ) Regardless of the kind of check, the first {$200.00} is to be made available to the consumer on the next business day. 2 ) {$5000.00} of the check must be released within 5 business days. Bank of America is breaking both of these laws by not releasing {$200.00} on the next business day despite my extreme need for the money for medications, food & physician co-pay as well as a credit card payment that will be late. Taken together, by withholding {$200.00} of a check from a reputable source, Bank of America is damaging my health, well-being and credit rating. Also by holding the first {$5000.00} of the deposit for longer than 5 business days, they are not only in violation of CFPB regulations, they are preventing me from being able to pay my rent for XXXX by the XXXX which will result in my owing an additional late fee. My phone service will also be disconnected. I am XXXX, have multiple health issues including XXXX XXXX and XXXX XXXX in addition to major XXXX XXXX. I will not have medications for these illnesses nor will I have proper nutrition as a result of Bank of America not following CFPB regulations, let alone common decency in treatment of a person they are aware of hurting by their actions or inactions.
Frequently Asked Questions
What is Complaint #4781165 about?
Complaint #4781165 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 2021-10-05T12:00:00-05:00.
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.