Bank of America is a financial services company which receives a lot of consumer complaints to our law firm for phone harassment and annoying robocalls. Find out who they are, why they might be calling, and how you can stop them.
Who is Bank of America?
Bank of America is the 26th largest company in the United States and one of the big four banks. Bank of America’s in-house collections and billing departments have received a number of consumer complaints alleging financial crimes. If you have been contacted by Bank of America, make sure you know your rights before responding.
According to its website, Bank of America traces its history to Massachusetts Bank, a bank founded in Boston to assist colonists in ending financial dependence on England. Throughout the history of the United States, Bank of America has been a significant contributor to economic growth in key cities including Los Angeles, Richmond, Charlotte, and Seattle. Through one of their heritage banks, the Bank of Italy, they lay claim to being one of the first in the nation to allow women their own accounts and thus be independent.
Bank of America states they are “guided by a common purpose to help make financial lives better by connecting clients and communities to the resource they need to be successful. We deliver this through a focus on responsible growth and environmental, social and governance leadership.”
Bank of America offers traditional banking services such as checking and savings, in addition to consumer credit in the form of credit cards, home loans, and auto loans. They offer customers four different credit cards. Bank of America Cash Rewards offers a cash back incentive,and Bank of America Travel Rewards allows consumers to earn points for every dollar they spend which can then be redeemed on travel purchases. They also offer a traditional credit card with a low intro APR offer. The Premium Rewards card is the only one which has an annual fee.
Bank of America offers eight lines of businesses tailored to meet the needs of both large and small companies. They offer credit, treasury, trade, foreign exchange, equipment finance, and merchant services, as well as financial guidance and counseling.
How Many Complaints are there against Bank of America?
Since June 2015, the Consumer Financial Protection Bureau (CFPB) has logged over 39,775 complaints against Bank of America, including billing disputes, technical problems with closing accounts and stopping withdrawals, and struggling to pay mortgages. The BBB’s profile page for Bank of America lists 5,893 complaints closed in the past three years, with 1,779 closed in the past 12 months. Most complaints were about products and service, but many were also about billing and collection issues. Of the 179 customer reviews, 173 are negative. Justia lists at least 30 cases of civil litigation that name Bank of America as a defendant.
How Much Will It Cost To File A Lawsuit Against Bank of America?
Absolutely NOTHING. Here are some Sample Cases filed in Federal Court:
In February of 2015, Lemberg Law filed a complaint against Bank of America in the Eastern District of New York Federal Court, alleging violations of the Telephone Consumer Protection Act. Plaintiff was receiving robocalls up to three times a day regarding a mortgage. Plaintiff explained to the Bank of America representatives that he was currently in litigation over the mortgage, had nothing new to report, and requested that the calls stop. However, the defendant persisted calling the Plaintiff’s cell phone at a “harassing” rate. In May of 2015, the case settled out of court favorable to the Plaintiff at an undisclosed amount.
In 2016, in San Diego Federal Court, Bank of America settled a class action lawsuit during which it was alleged that their overdraft fees were actually interest, and thus subject to bans on exorbitant interest rates. Bank of America charged a $35 fee to cover checks for overdrawn customers, followed by a second $35 fee five days later simply for continuing to be overdrawn. Arguably this second overdraft free was interest on a loan extended by Bank of America to cover the draw on insufficient funds. Bank of America agreed to pay 66.6 million dollars to the 6 million customers affected by the fee.
Bank of America Contact Information
Bank of America 100 North Tryon Street Charlotte, NC 28255 Telephone: (704) 386-5681
Bank of America Calling You?
Understanding Your Debt Collection Rights
Federal consumer protection laws are designed to protect consumers from unethical business practices. For example, the Fair Debt Collections Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA) regulate the way in which collection agencies can conduct business. The FDCPA’s provisions prohibit the use of abusive or threatening language; harassment; or the use of false or misleading information to collect a debt. The FCRA regulates how collection agencies and creditors report delinquent debts to credit reporting agencies.
Additional consumer protection laws include the Telephone Consumer Protection Act (TCPA) and the Consumer Financial Protection Act (CFPA). The complaint above illustrates how consumers can assert their rights when financial services companies overstep their bounds.
These laws also provide individuals with a means to seek monetary damages in court. For instance, the TCPA provides monetary compensation to consumers who can prove harassment. In the case of willful harassment, this compensation can be increased three times. As a result, entities can be fined up to $500 if case harassment is proved. In case willful violation is proved, this compensation can be up to $1500.
Ready to Stop the Bank of America Harassment?
Your debt harassment checklist:
Calling you before 8:00 am or after 9:00 pm
Calling and not identifying themselves or their purpose.
Use misleading of fraudulent tactics to communicate with you
Calling you at your place of employment
Calling your friends, neighbors, or coworkers
Disclose personal info to someone else without your consent
Ignoring your requests to not call you; not honoring the Do-Not-Call-Registry.
Threatening and intimidating you with violence, lawsuit, or arrest
Use of threats, offensive language and aggressive behaviors
Criminal accusations are being made towards you
Automated robocalls are being made to your phone in an attempt to collect
Harassing you with constant or unwanted calls
If you’ve been harassed by debt collectors and even one of these has happened to you, we can help. We will fight for your rights. We can make them STOP!✋
The Lemberg Law legal team is committed to holding debt collectors accountable, so complete our form for a FREE case evaluation, or call 844-685-9200NOW
What Our Clients are Saying
“Lemberg Law has been great in handling my harassment case . They got the robocalls to stop when I was unable to get my number taken off the company’s list on my own. I highly recommend this law firm to anyone having an issue with pushy bill collectors harassing you”
“Was getting harassed by phone calls. Looked for an attorney that could help online and found Lemberg Law. They took care of everything and kept in contact with me just the right amount. Never expected anything would come of it but they did all the work and it relieved a lot of stress in my life!”
“Lemberg Law was a great choice. They really helped me with my situation. They were very professional and answered any questions I had and responded to my calls and emails. I would definitely use them again and recommend them to others.”
Can You Help Me Stop Bank of America Financial Harassment?
Chances are we can. Call us to today and we’ll tell you how we can help.
Sound Off!
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About the Author:
Sergei Lemberg is an attorney focusing on consumer law, class actions related to automotive issues, and personal injury litigation. With nearly two decades of experience, his areas of practice include Lemon Law (vehicle defects), Debt Collection Harassment, TCPA (illegal robocalls and texts), Fair Credit Reporting Act, Overtime claims, Personal Injury cases, and Class Actions. He has consistently been recognized as the nation's "most active consumer attorney." In 2020, Mr. Lemberg represented Noah Duguid before the United States Supreme Court in the landmark case Duguid v. Facebook. He is also the author of "Defanging Debt Collectors," a guide that empowers consumers to fight back against debt collectors and prevail, as well as "Lemon Law 101: The Laws That Lemon Dealers Don't Want You to Know."
Thank You I propose a social media campaign. I hate Bank of America because I get 3 or more calls per day from them even though I do not have an account.
Debts spam call from bank of America.
Thank You I propose a social media campaign. I hate Bank of America because I get 3 or more calls per day from them even though I do not have an account.