Bank of America class action overview:
- Who: Plaintiff Kimberley Dennie filed a class action lawsuit against Bank of America.
- Why: The lawsuit claims Bank of America does not legitimately investigate fraud claims, instead sending out form letter denials making customers responsible for banking fraud.
- Where: The Bank of America fraud claims lawsuit was filed in federal court in North Carolina.
A consumer filed a class action lawsuit against Bank of America saying the bank does not legitimately investigate fraud claims, instead sending out form letter denials arguing its customers are responsible for banking fraud.
The lawsuit alleges that the company often denies Bank of America fraud claims — even when they are submitted properly — by claiming that fraudulent payments were actually made by an authorized card user.
“Despite Plaintiff’s request for an explanation and further review, and submitting a police report for the stolen card and fraudulent transactions, Bank of America mechanically rejected Plaintiff’s claim without performing a reasonable investigation and instead, issued form denial notices devoid of any factual findings or documentation from its alleged investigation,” the Bank of America class action says.
Bank of America class action: Legitimate fraud claims must be covered, lawsuit says
Congress determined that banks are required to pay for financial fraud reported by consumers in a timely manner, unless the bank can determine the charges were not fraud, the lawsuit says. Banks must write a detailed explanation and provide all available documentation to prove the charges are not fraud, allowing consumers to dispute the conclusions.
The Bank of America fraud claims responses attempt to flip the responsibility of proof and financial loss on the consumer, the lawsuit claims.
“Bank of America denies fraud claims for transactions it unilaterally deems to be ‘authorized’ by Plaintiff without providing any substantive explanation as to how or why it has satisfied its burden of demonstrating that the disputed charges were in fact authorized,” the lawsuit says.
A consumer filed a class action lawsuit against Bank of America claiming the company did not send required monthly statements to customers who fell behind on their home equity lines of credit.
Have you encountered fraud on your Bank of America card? Let us know in the comments.
The plaintiff is represented by David M. Wilkerson of The Van Winkle Law Firm, Andrew J. Shamis and Edwin E. Elliott of Shamis & Gentile PA, Sophia Goren Gold of Kalielgold PLLC and Scott Edelsberg of Edelsberg Law PA.
The Bank of America class action lawsuit is Dennie v. Bank of America Inc., Case No. 3:24-cv-454, in the U.S. District Court for the Western District of North Carolina Charlotte Division.
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533 thoughts onBank of America class action claims bank fails to properly investigate fraud claims
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It has happened to me on multiple occasions
The same happened to me
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Same they had multiple businesse accounts in my name and my main checking account had fraudulent transactions somebody from a different stated logged in my account and not to mention I was unable to login they changed my password and tried to deposit a check
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I want all my money back from there crooks and not just $2 I’ve been with them for 14 long years
A friend had sent a large amount of money to my account and I had used it, as planned. BoA sends me a letter stating that the money was “stolen” and the “rightful owner ” wanted it back. Like what the heck? Now I am on the hook for that money? Yep they closed my account for fraud and send me monthly reminders. But wouldn’t provide me with the “supposed rightful owner ” of this money. BoA is a bunch of crooks
I filed 19 complaints with CFPB. BOFA DENIED all claims without investigating and cherry pick claims 10 years later after finally sending records 10 years after claims were filed with a note on the bottom that my bank records were VISAS property and I couldn’t show anyone without them approving it first. I have full records sent 10 years ago and also sent year ago that are all different. Please include me.
I’ve been banking with Bank of America for a long time. It’s a business account. I’ve had fraud on my accounts a few times. It took them a while to fix my accounts.