Payday loan, title loan, or personal loan -- Charged fees or interest you didn't expect -- Complaint #6087667
Complaint Overview
Complaint ID: 6087667
Company: Bank Of America, National Association
Product: Payday loan, title loan, or personal loan
Sub-Product: Personal line of credit
Issue: Charged fees or interest you didn't expect
State: New York
ZIP Code: 11743
Date Received: 2022-10-14T12:00:00-05:00
Date Sent to Company: 2022-10-14T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
I was solicited by Bank of America. I had a high rating for many years. The entire process was as told by the promotion person was recorded. The agreement was for {$15000.00} leaving a balance of credit with my account. The terms were " Interest free for 17 months for a fee of 3 % ''. I paid off the balance I had and agreed to pay the {$450.00}. Soon I saw rather large interest payments on a small recurring XXXX monthly charge. I called several times and never got a reasonable reason. I removed the recurring XXXX charges and started getting very large monthly fees. I went to a advisor who represented me on a call and was listening to the same unfounded reasoning about the charges. He was told to hold on after 3 different representatives and talk to the promotion department. There was no more conversation they hung up on him. I am a 82 years of age and have these monthly charges I do not deserve. I also believe I was targeted because of my age. The XXXX XXXXXXXX of NY XXXX XXXX guided me to your office.
Frequently Asked Questions
What is Complaint #6087667 about?
Complaint #6087667 was filed against Bank Of America, National Association regarding Payday loan, title loan, or personal loan specifically about Charged fees or interest you didn't expect. It was received by the CFPB on 2022-10-14T12:00:00-05:00.
How did Bank Of America, National Association respond to this complaint?
The company responded with: "Closed with monetary relief". 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 (Payday loan, title loan, or personal loan) 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.