This is a call to action for all of you who have experienced problems with Bank of America. We learned in the 60s that if we work together, there is no problem we cannot solve. I am fed up with Bank of America and I want to share with you how to report the problem you are having with BOA in a way that might make some differences. It will require you to do a lot of writing - but if we all do it together - the untold thousands of small voices that BOA is ignoring will turn into a roaring lion that will be heard.
My story is at the end of this report - but it is less important than the fact that thousands of us are taking a beating at the hands of a bully. Complaining to them - at any level - won't help. Bank of Ameria's employees are sitting back smugly refusing to explain the etiology of their behavior - believing that they are untouchable. They are bullies who greatly enjoy the fact that they can do what they want to do - and even if you can get an enforcement agency to look at their activities - it will be long after they have caused you to suffer. The face of the manager I dealt with in my local branch expressed exactly that fact.
They are taking our homes. They are seizing our funds. They are stealing our dignity. They are counting on our helplessness.
We are not helpless. It is time for us to stop letting the bully steal out milk money!
They believe that the law technically allows them to do the things they do. They may believe there are no serious legal consequences for them when they charge huge fees and seize a person's money. The law has been known to disagree - they just lost a huge class action suit about overdraft fees... And they lost this suit because consumers stood up and said "NO MORE!" Even if their practices prove to be technically legal - they are patently immoral/unethical.
You and I CAN do something about the continuing problems.
I intend to vote with my feet as soon as my funds are freed. I will take my business to a local credit union. You need to move your funds as quickly as you can, as well. Encourage everyone you know to do the same. Cut and paste this letter into an email and send it out to everyone you know!
Write every consumer protection entity available and notifying them that BOA's practices are unethical - if not illegal. Write the Federal Government so that they understand if a bank is to be assisted - Bank of America should not be one of them - and I am giving them a specific example of a 20 year customer and how she is being treated. I am writing attorneys who have filed or are filing class action suits against BOA. The stories of simple people become quite important in court rooms.
If you do this with your complaint, as well - BOA is going to be forced to pay attention. There is strength in numbers!
Here is how we start. The more people you complain to - the more accountable BOA will be held.
Start with BOA themselves. They won't do anything - but they won't be able to say they didn't know you were upset by the current situation: Presidential Escalation lines (704) 386-5681 and (704) 386-5687
You can file a complaint with the Federal Reserve: http://www.federalreserveconsumerhelp. Gov/consumercomplaint. Cfm
You can file a complaint with the Comptroller of the Currency:
https://appsec. Helpwithmybank. Gov/olcc_form/
You can file a complaint with the United States Senate Committee on Banking, Housing, and Urban Affairs: http://banking. Senate. Gov/public/index. Cfm? FuseAction=Home. Home
You can write to the individual members of that Senate Committee:
Senator Christopher Dodd: http://dodd. Senate. Gov/index.php? Q=node/3128
Senator Richard Shelby: http://shelby. Senate. Gov/public/index. Cfm? FuseAction=ContactSenatorShelby. EmailSenatorShelby
Senator Tim Johnson: http://johnson. Senate. Gov/contact/
Senator Jack Reed: http://reed. Senate. Gov/contact/contact-share. Cfm
Senator Charles E Schumer: http://schumer. Senate. Gov/new_website/contact. Cfm
Senator Evan Bayh: http://bayh. Senate. Gov/services/constituent/form/
Senator Robert Mendez: http://menendez. Senate. Gov/contact/contact. Cfm
Senator Daniel Akaka: http://akaka. Senate. Gov/public/index. Cfm? FuseAction=Contact. Home
Senator Sherrod Brown: http://brown. Senate. Gov/contact/
Senator Jon Testor: http://tester. Senate. Gov/Contact/index. Cfm
Senator Herb Kohl: http://kohl. Senate. Gov/contact. Cfm
Senator Mark Warner: http://warner. Senate. Gov/public/index. Cfm? P=Contact
Senator Jeff Merkley: http://merkley. Senate. Gov/contact/contact. Cfm
Senator Michael Bennett: http://bennet. Senate. Gov/public/index. Cfm? P=TransitionalSiteEmailSenatorBennet
Senator Robert Bennett: http://bennett. Senate. Gov/public/index. Cfm? P=ContactForm
Senator Jim Bunning: http://bunning. Senate. Gov/public/index. Cfm? FuseAction=Contact. ContactForm
Senator Mike Crapo: http://crapo. Senate. Gov/contact/email. Cfm
Senator Mel Martinez: http://martinez. Senate. Gov/public/? P=EmailSenatorMartinez
Senator Bob Corker: http://corker. Senate. Gov/public/index. Cfm? FuseAction=ContactInformation. ContactMe
Senator Jim DeMint: http://demint. Senate. Gov/public/index. Cfm? FuseAction=Contact. Home
Senator David Vitter: http://vitter. Senate. Gov/public/index. Cfm? FuseAction=Contact. ContactForm
Senator Mike Johanns: http://johanns. Senate. Gov/public/? P=EmailSenatorJohanns
Senator Kay Bailey Hutchison: http://hutchison. Senate. Gov/contact. Cfm
Write President Obama - He is interested in stories about the ordinary American: http://www.whitehouse. Gov/CONTACT/
You can contact attorneys who are filing Class Action Lawsuits. Your story may add to their strength:
Http://www.hagens-berman.com/frontend? Command=JoinClassAction&iLawsuitId=1935
Http://www.bankofamericadiscrimination.com/
Http://www.clossonsettlement.com/
Your state will have a consumer Protection Agency - you can find it here: http://www.consumeraction. Gov/state. Shtml
Some of what Bank of America does is blantantly illegal - you may be able to pursue legal protection and receive payment for the disruption BOA's policies and procedures have caused in your life. Generally - attorneys won't charge you upfront - but take their payment from the final award you will get. You can find an attorney who specializes in this kind of law by contacting your state bar association. You can find that here: http://www.abanet.org/barserv/stlobar.html
The bottom line is that until we stand together on this - Bank of America will continue to do whatever they can to charge us rip-off fees and control our financial lives. They will beg the Federal Government for special consideration and bailout and then turn around and stab those of us who pay taxes in the back. They are counting on the fact that "your situation is your fault" and doing all they can to make you feel ashamed of that so you won't take the actions to which you are legally entitled. We are all in financial pain right now - we do not need our bank making the pain more intense.
The good news is that we don't have to let them! As Margaret Mead said, "Never doubt that a small group of thoughtful, committed citizens can change the world.indeed, it is the only thing that ever has."
My story:
Like they have done to many other people on here - Bank of America has put a five day hold on a deposit I made. I spent all day yesterday trying to get it removed - or at least be told why they did this. I contacted every level of BOA to find resolutions and was told they know the check is good - but they put the hold on because of my account. They refused to tell me what about my account caused them to put a hold.
So - why did they put this one on hold? While they seem to think they do not have to give me a reason - in doing research, I did find that the law allows them to put a hold on a deposit to a checking account if the account has had a negative balance for six banking days in the last six months - or if it would have had a negative balance had items been paid. That would fit in my situation - and that is what they will use as an excuse.
However,
- The deposit slip says the deposit would post 4/27/09. If they intended to hold deposits on my account - their system should have been programmed to reflect that when it printed the deposit slip
- I was not notified of any reason why that would not happen.in fact - when I talked to the myriad BOA employees yesterday - not one of them gave me any kind of reason - other than to tell me they were holding this check because the law allowed them to.
- I have been in this situation before and had deposits go right through. I don't make a regular practice of overdrafts - but they do happen.
So... Why now? Bank of America decided to take this heavy handed approach on my account because a week earlier, I reported them to my state's Consumer Affairs division because of a problem I have been having for the last four months with my Credit Card. I got behind on my payment in December because of a series of family crises. At the end of January, I called BOA to find out what I needed to pay to bring the account current and was told $160. I paid that. Before I could make another payment, BOA cut off my access to the online statement for my account. Then I got a letter in the mail from a collection agency telling me I had to pay $788 immediately - to some entity I had never heard of... Which turned out to be BOA disguised. Then BOA started calling my home aggressively (many times a day) to get a payment. I told them I wanted to see a statement on the account. I was told "no" - that I was so delinquent they didn't have to give me one. I really didn't think I was more than 30 day delinquent - and without a statement - I couldn't tell. This scene reoccurred several times - I made payments over the phone but was denied a statement.
Finally - the woman who called me from BOA asked me if I wanted them to work with me to reduce my rates. Of course I said yes! She asked me a million questions about things that weren't really her business and then said "I think we can help - let me transfer you to that department." She then cold-dropped me on a Consumer Credit Agency.
Consumer Credit Agencies are - for the most part - as big a rip-off as the credit cards they work with. I worked with one years ago when I had a serious medical problem that made me lose months and months of work. They will not get you much of a reduction - if any - and they take a huge cut of your funds for themselves. The one I worked with held my funds for several months before starting to pay my creditor is - so I ended up in worse shape than I would have been in had I just continued to manage myself. Add to that the fact that it is reflected on your credit report for seven years that you used one - and that is as damaging to your credit score as a very serious delinquency.
I didn't ask BOA to connect me with a Consumer Credit Agency - they didn't tell me they were going to... They just tried to trick me into using one.
I reported them to my state's Consumer Protection Agency for this slick trick and for refusing to provide me a statement on my Credit Card account. They know both practices are wrong - and they are mad at me for reporting them - so they are now holding my deposit to punish me.
The fact is that the bank upon which that deposit was drawn probably paid BOA immediately. My funds are sitting in BOA drawing interest for BOA while they charge me overdraft fees on the bills I paid when I thought the deposit was good. Bank of America knows the check I deposited is good - but they know that cutting off my access to any funds I may have through the weekend will punish me - and hopefully silence me in the future.
Bad guess!!
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