Bank of America Closes Down EDD Fraud Claims

 Bank of America is being sued by thousands of EDD debit card holders in California. The bank closed down the claims of these EDD recipients and closed them without any explanation. This action is now a class action lawsuit. Federal judges ordered Bank of America to reopen claims filed by EDD claimants and reimburse the victims for unauthorized expenses. The bank is obligated to investigate the claims in good faith and explain why it denied some EDD claims.

The bank had previously denied the claims, but a preliminary injunction was issued in June requiring the company to reopen all EDD fraud claims. In addition, the bank was required to refund 29,000 EDD cardholders after reopening 46,000 claims. It has not yet disclosed the amount of money returned to those customers. Bank of America is now obligated to notify all of its EDD claimants.

Bank of America customers who have recently received EDD debit cards have been the victims of text scams. These fraudulent text messages contain links that ask them to share personal information, such as ATM pins or debit card numbers. Bank of America never asks for this information. It is possible to verify if a text message is from Bank of America by checking the caller's UI Online. These scammers are only after the personal information of customers.

The company is under scrutiny from regulators for failing to respond to consumer complaints in a timely manner. According to the Electronic Fund Transfer Act, banks must complete an investigation and award provisional credit within 45 days. In the meantime, the provisional credit will become permanent once the bank finds fraud. The company is defending itself against the lawsuit. So far, it has been accused of denying the claims by the consumers.

BofA has also come under fire for freezing some accounts, including those of legitimate cardholders. The company had a policy of freezing the accounts of unauthorized users. However, this practice prevented legitimate cardholders from accessing their money. The EDD had asked BofA to freeze about 350,000 prepaid cards by September 2020 and impersonation scams2021. The bank responded by telling state lawmakers that 488,000 of these accounts had been frozen.

In San Francisco, a man named Frank Jaworski discovered his card was being used by a fraudster. His account had a high balance due to unemployment benefits, which the bank was unable to reimburse. After a week of calling the bank and claiming the funds, Moon was forced to take a temporary homeless stance. This is when he filed his complaint. In the meantime, he was told by the bank representative that he was responsible for the theft and would be forced to pay the charges.

The volume of new fraud reports continues to decline, but the L&I staff is still working through a large number of fraudulent filings from previous months. They are required to review each claim individually. As such, the processing of new UC claims may be delayed for a while. For this reason, people who have reported fraudulent activity should not contact the L&I department again or call to inquire about the status of their claim.

If you are one of the unlucky ones who has been victimized by a bank, you can mitigate the situation by gaining control of your EDD account. It is possible to recover lost funds and get paid with a debit card. In this case, a victim may choose to file a bank of america edd fraud claims for a variety of reasons. These include unemployment theft