A Bank of America customer just filed a class action lawsuit accusing the lender of illegally refusing to reimburse legitimate fraud victims.
Plaintiff Kimberley Dennie says she lost her BofA debit card in February and soon noticed several unauthorized transactions hitting her account.
Dennie says she immediately reported the card as lost or stolen and filed a claim, including a police report detailing what happened, to recover the $3,000 that had disappeared from the account.
According to the lawsuit, Bank of America quickly denied the claim and accused Dennie of authorizing the transactions without providing any evidence as required by law.
“Despite the plaintiff’s request for an explanation and further investigation, and the filing of a police report for the stolen card and fraudulent transactions, Bank of America mechanically denied the plaintiff’s claim without conducting a reasonable investigation and instead issued a denial notice without any factual findings or documentation. from his alleged research…
It was Bank of America’s burden to prove that these disputed transactions were authorized – not the plaintiff’s – and its failure to do so is unlawful and unfair to the plaintiff and thousands of other consumers who face the consequences of stolen funds in unlimited amounts have to wear.
The lawsuit accuses the banking giant of routinely and brazenly denying customers’ legitimate claims while sending vague, boilerplate denial letters.
“Bank of America is failing to meet its legal obligations by failing to provide a written explanation for its denials.
Instead, Bank of America routinely denies claims without explanation, stating only its conclusion that a claim has been denied. Bank of America’s standard denial letters shift the burden of proof onto consumers to rebut the presumed reasonableness of the Bank’s investigation. But [the Electronic Funds Transfer Act] places the burden of proof on financial institutions to demonstrate that disputed charges are allowed.”
The lawsuit was filed in federal court in North Carolina, with the plaintiff seeking “actual damages, punitive damages, and injunctive relief on behalf of the general public to prevent the Bank from continuing to engage in its illegal and/or unfair practices.”
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