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Bank of America class action overview:
- Who: A Bank of America credit card customer is suing the company.
- Why: The customer says the bank does not properly investigate unauthorized card use claims and instead places liability for such transactions
- Where: The lawsuit was filed in a Hawaii federal court.
Bank of America (BoA) does not properly investigate unauthorized card use claims and instead places liability for such transactions on its customers, a new class action lawsuit alleges.
Plaintiff Ji-Hye Park filed a complaint against Bank of America N.A. Aug. 18 in a Hawaii federal court, alleging violations of the Truth in Lending Act.
According to her lawsuit, Park received a “fraud alert” text message from Bank of America in January asking whether she had used her bank card for three attempted transactions, one of which was approved on her card for $2,000.
Park says she replied to her bank saying she had not authorized the transaction, however BoA still posted two $2,000 charges to her account that were unauthorized. She disputed the charges, and a $4,000 credit was issued, however she says the charges were reposted to her account about a month later with no explanation given.
Later, disputing the transactions again, BoA told Park that a company named Axus provided documentation confirming she received its services. When she asked to see the documents, she said they were “scattered” and unconvincing.
“Most notably, the documents identified the plaintiff’s IP address… as ‘Taipei, Taiwan.’ Plaintiff, of course, lives in Hawaii,” the lawsuit states. “She also has never been to Taiwan or used her Bank of America credit card there.”
BoA didn’t do due diligence in investigation, lawsuit alleges
Park alleges that BOA didn’t do its due diligence in investigating the fraud, instead relying “blindly” on documents furnished by Axus.
In doing this, the bank violated Section 1643 of the Truth in Lending Act, which prohibits credit card issuers from holding cardholders responsible for unauthorized charges “without complying with specific requirements,” she says.
“Bank of America refuses to undertake any meaningful investigation because shifting the loss to the cardholder is more cost-effective than ruling for the cardholder and risking a prolonged dispute with the merchant,” the complaint states.
She is looking to represent anyone in the United States who was wrongly held liable for fraud on their credit card account in the past year, and seeking damages of up to $1 million or 1% of the net worth of Bank of America, certification of the class action, fees, costs and a jury trial.
Meanwhile, Bank of America has agreed to pay $8 million to end class action claims it hit customers with multiple fees on the same checks in violation of their account agreements.
Were you impacted by Bank of America’s fraud investigation policies? Let us know your experience in the comments!
Park is represented by Andrew J. Guzzo of Kelly Guzzo PLC.
The Bank of America unauthorized card use class action lawsuit is Park v. Bank of America NA, Case No. 1:22-cv-00382, in the U.S. District Court for the District of Hawaii.
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116 thoughts onBank of America class action alleges company does not properly investigate unauthorized card use
Add me please!
Bank of America allowing a student to open account in my name using an old email address, but no one will talk to me about it!
I have family that use them, and online going back years BofA has allowed these hackers to transfer money from existing accounts into their fake accounts yet do nothing to stop it!
Add me
Add me please. BofA failed to grant me their 0 liability promised when my credit card number was stolen or cloned somehow. They left me with large balance.
Please add me, I’ve had problems from fraud a lot and I’ve been their customer for 27+ years
Add me please
Add me please. I was scammed on August 22, 2022 and now BOA has closed all of my accounts (after 19+ years of being a client with no reason.. no one will speak to me). Now they are holding the money in my account saying they will give it to me when ever they want. Meanwhile… I’m trying to stay on top of things and pay my bills so my credit isnt ruined on top of everything else. However, BOA is holding onto new deposits in these “closed accounts” and won’t give me access to it.
Please add me. It has been over one year and they still can’t make a decision on a $5000 unauthorized transaction where the funds were ,according to B of A, transferred to a Cash App account with a males name( I am female). According to B B of A,, they do not authorize any electronic transfers to Cash App. They refuse to do any hardship compensation in the meantime a decision is made
Add me please its been over 2 yrs since I disputed over 6,000 in fraud xharges and they didn’t even look at my proof I sent in on 5th they denied on 8th and attached paper on 20th they never even look at it
add me please
Please add me. Despite following all the instructions given by various representatives and making diligent efforts to recover the funds stolen from my account. Bank of America has failed to provide a meaningful response or assistance. Instead they have responded with the same responses,as if it was a script promising the same thing the previous representatives obviously failed to do. Disputing since December. According to B of A Zero Liability policy, Cardholders may incur no liability for unauthorized use of their cards and in the event of a timely reported unauthorized transaction the bank will credit the account within 10 business days.
Add me! They have done the same for me and managed to take thousands and switched things around. They didn’t want to do anything about it but I have all the original statements and it’s so outta order by weeks and months.
Add me please had many issues with Bank of America and unauthorized card use