A Customer Says Bank of America Approved a $3,400 Fraud Refund, Then Reversed Its Decision

The Case

A customer contacted Bank of America's fraud department about withdrawals from their account that they say they did not authorise. A letter later said the decision was in their favour, the withdrawals were fraud, and a $3,400 check would be mailed. The check did not arrive.

The Consumer

The customer describes a series of visits to the same branch, each lasting more than an hour, to update their address and get a status. They say they were told that a credit had gone to a closed account and the money was "in limbo", then that the check would be mailed in 7 to 10 days, and later that it would be mailed that day. Finally, after the branch manager escalated the matter, they say they were told the fraud department had overturned its own decision and they were no longer entitled to reimbursement.

The Institution

Bank of America received the complaint on 13 May 2023, responded on time, chose not to give a public response, and closed the complaint "with monetary relief".

What the Law Said

For unauthorised electronic transfers, Regulation E sets deadlines for the bank's investigation, lets the bank give a provisional credit if it needs longer, and requires it to correct the account promptly if it finds an error. Whether these rules apply depends on the kind of transfer involved, and the complaint does not say.

What Was Decided

There was no ruling. The company reported closing the complaint with monetary relief. This is self-reported and not verified by the CFPB.

The record contains a tension that we cannot resolve. The narrative ends with the customer saying the reimbursement was withdrawn, while the company's recorded response is monetary relief. The data does not show which came last, or whether the money was ever paid.

Why It Matters

This case shows why company responses must be read with care. A recorded outcome of "monetary relief" and a customer's account of a reversed refund can both sit in the same record. It is also an example of a decision stated in writing, then changed, and the paper trail is what lets the customer say so.

What You Can Learn From This

• Keep the letter. A written decision that a withdrawal was fraud is evidence even if the bank later changes its mind.
• Ask the bank in writing for the basis and the date of any reversal, and for the list of what it relied on.
• Check your statements after any refund, and note the date the money appears or does not.

Documents & Evidence

Primary source: the CFPB complaint record (ID 6974445).

A CFPB complaint is the consumer's account, not a finding of fact. Company responses are self-reported and are not verified by the CFPB.

Related Kibbo Tools

• Unauthorized Transaction Dispute Letter Generator
• Unauthorized Transaction & Fraud Tracker
• Unauthorized Transaction & Banking Fraud Checklist