Vehicle loan or lease -- Getting a loan or lease -- Complaint #5121394
Complaint Overview
Complaint ID: 5121394
Company: Bank Of America, National Association
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Getting a loan or lease
Sub-Issue: Fraudulent loan
State: Georgia
ZIP Code: 30078
Date Received: 2022-01-18T12:00:00-05:00
Date Sent to Company: 2022-01-18T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
I have been corresponding back and forth with Bank of America since XX/XX/2021 on an auto loan that was fraudulently obtained in my name. I have disputed this account numerous times with all 3 credit bureaus and each time Bank of America responds '' account verfied ''. I requested Bank Of America send me a method of verification and a validation of debt which they have refused to send. I have certfied mail with return receipts of correspondence with Bank Of America and the fraudulent account to which was never resolved.Under FCRA, By law, Bank of America is to follow procedures concerning fraudulent accounts to include providing consumer proof of debt ( validation of debt ) and the methods used to verify the debt.Bank of America was supposed to cease reporting this debt when i reported that it was fraudulent, instead Bank Of America kept reporting this debt as charged off on my credit report.On XX/XX/2021, Bank of America removed {$14000.00} from my account for this fraudulent debt that was never resolved.I 'm demanding Bank Of America put the {$14000.00} back into my account and remove the negative reporting from my credit report as Bank of America has not proven this is a valid debt and they had 30-45 days to do that.Under FCRA, if they have not proven a debt is valid, they can not report or collect on said debt.
Frequently Asked Questions
What is Complaint #5121394 about?
Complaint #5121394 was filed against Bank Of America, National Association regarding Vehicle loan or lease specifically about Getting a loan or lease. It was received by the CFPB on 2022-01-18T12:00:00-05:00.
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 (Vehicle loan or lease) 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.