PDL hell- need help in NJ

Payloans are prohibited in NJ.

Payday loans are prohibited in New Jersey, meaning they are illegal. Follow the sticky at the top of the forum on closing your bank account and how to deal with illegal lenders.?? Take a copy of your state laws to your bank as proof these loans are not legal so they will put a block on your account.

we must have been posting at the same time lol

I have tried to request to have my account on a hard ACH block but my bank will not let me. They do not consider this fraud.

What is the name of the bank?
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I would complain to the corporate of the bank. This is fraud and you have the right to revocation the ACH of any company at least three days before the ACH is due to hit.

Bank of America.

Show them a copy of the laws for your state showing that these loans are indeed illegal. Can you not close your account , it is actually the best way to avoid having the charges taken out.

I can not close my account because of the all the transactions those PDL's made I have over thousand dollars of NSF fees in two weeks. I am so stressed. My account was closed two weeks ago but then the bank reopened it because of those ACH transactions. I have plended with them to put a block and they won't. I don't know what to do know.

I knew it. BOA sucks. They do this to all their customers.
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You have to go straight to the top.
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There is another post where I posted all the information. Let me see if I can find it.

[url=http://www.debtconsolidationcare.com/abbybowls/index.html]abbybowls[/url], also complain to the OCC, http://www.occ.treas.gov/, States banking division and anyone else you can think of. Just don't take no for an answer.
also have you gone into a branch and talked to the branch manager or are you?? just dealing with customer no service at this point?

I have gone into the branch and I have been transfered to so many customer service reps but nobody is willing to help or guide me to the right direction.

Abby,?? Call ahead of time, and see who the branch manager is to whichever branch you decide to go to, if you don't know who it is. Then,go into a branch tomorrow(or today if there is still time)and ask for a Branch manager specifiically by name. If the Rep or who ever asks "May I help you" Tell them that your situation requires a branch manager. Print the NJ Statue, hand it to the branch manager.?? Explain your situtation, that you revoked the illegal payday lenders authorization and you demand a resultion to this matter, and you are not leaving until something is done.
I'm assuming that you revoked??all payday lenders authorization??and gave a copy to BOFA? This is a federal law called Electronic fund transfer act. If BOFA is failing to follow this, they can face possible fines from the state, not to mention lawsuit.
And just keep reminding them(Collection agency)??that they are illegal in NJ in fact file complaints with the NJ DFI against them.. They'll be happy to.
And if the branch manager still says they can't do a damn thing file complaints with everyone listed above.

I have told each PDL thru email to stop the electronic transactins and they haven't. That is why I asked the bank to put a block on my account. I also told them that the companies listed on my account were illegal and they did not do anything. I have been told several times to contact the companies and there is nothing on our end to do. They told me they do not consider this fraud also. I have also asked for a hard ACH block and I was also denied. I do not know what to do.

Okay here is the info,
Go straight to the top. From the posts were I found this said the 704 number was the one to use and they got the most success.
The CEO of Bank of America???s address is:
Mr. Kenneth D. Lewis
100 N. Tryon Street.
Mail Code NC-1-007-18-01
Charlotte, NC 28255
In the letter to the CEO, all you have to do is to state the reason why you have so many over draft fees and tell him that as a loyal BOA???s customer, you hope he can help you!
And there are other methods to reach BOA???s executive customer relations.
Executive Customer Relations general line: 704-386-5687
Nancy M. Condos
VP/ Customer Advocate
Executive Customer Relations
Office of the Chairman
[EMAIL="nancy.m.condos@bankofamerica.com"]nancy.m.condos@bankofamerica.com[/EMAIL]
Martha Dominguez, Executive Customer Relations Specalist: 714-792-4264
Corporate Headquarters (Bank of America):
Bank of America Corporate Center
100 North Tryon Street
Charlotte, North Carolina 28255
There is no reason for this crap and if enough people complain maybe something will be done.

I would also add to the letter that?? failure to follow the Electronic funds transfer act may result in you consulting legal counsil if the matter isn't resolved. In the mean time, it wouldn't also hurt to file complaints with the Occ, your state banking regulators, Federal reserve and anyone else you can think of.

I have called that 704 number and I got the same responses from the branch and customer service. I have told them I have paid them off and they continue to take money out and told me to call them and have them stop it on their end. I hate BOA.

Did you talk to the branch manager? Or just someone AT the branch? I'd print out NJ rules, as well as the Electoronic fund transfers act. Let me see if I can find it.
Their refusal to follow it is inviting a lawsuit.

I have filed with BBB and FTC and I received some letters and emails from BBB. BBB said with some of the emails the case has been closed because they received a return letter back to them.

File complaints with OCC Against Bofa (I gave you the link earlier in this thread or another one you had posted) and federal Reserve as well as your states Department of Banking. http://www.state.nj.us/dobi/consumer.htm??in the mean time, talk to a consumer law attorney.
Here's what NJ Banking division told me.. Since Bofa is a national bank, you have to call OCC even though payday loans are illegal in the state of NJ.?? They gave me #1-800-613-6743. They said it doesn't matter since Bofa is a national bank.. that the OCC will handle it.
Whatever you do DON'T give up.?? Don't take no for an answer.??Banks usually pay attention to the OCC.?? It took me 6-9 months to straighten out my mess with the Credit union. No one would budge. Finally someone pointed me to the Electronic funds transfers act (Which, is what I mentioned above).. they finally played nice.. at that time I was about to have a lawyer go after them.. but didn't need to. They dropped my OD fees from around 1500 (which was what was reported to Chexsystems to 212) which was the correct amount. No one in my state division would do anything until I contacted the States AG with a request to fine/charge my credit union for failure to abide by the eletornic funds transfers act. Then everyone decided to play nice with me.

I have put a complaint with OCC and I have called the number you have provided. I have going to try one more time at the bank. I will show the print out for Payday loans in New Jersey and the electonic transfer act. If they still stay they can not do anything I will tell U have put a complaint with the OCC. I hope this will work out.

Just remember to talk to a Branch Manager, not Customer service Rep when you go back into the bank

I will be keeping my fingers crossed.?? Good Luck!
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It really is a shame that this large bank is getting away with crap like this.

Thanks for all your help.

A little more information. This was from a post in January.
Quote:

I have been in contact with the ACH Dispute Department at BOA. There was one charge that went thru and they sent an affidavit for that charge they told me I am l Liable to pay for all those NSF overdraft fees. I set the paperwork for that charge about 3 weeks and that charge is still showing up on my account.

So did you revoke ACH transaction with this lender before the charge went through??on your account? If so did you fill out a affidavit to revoke any future transactions from the lender at your bank, before the charge came through?

Reason I ask is because if you did not put a ACH block against the lender before you were charged the bank will fight it till the end. However, if you never pre authorized the lender to debit an unagreed amount then you should get all your money back??and fees waived. BOA has a reputation for being very difficult to work with.

Unfortunately with BofA you cannot be honest and that is so sad.?? When I first came to this site I read?? many posts about going to your bank and speaking to a manager and just explain the situation but then I realized I was dealing with BofA and I knew none of the advice given would work with them so I went another route and I am so glad I did.?? BofA is the worst bank I have ever dealt with.??

Check this link??on your rights for EFT Transactions.

I hate to say it but maybe you can start all over and claim you lost your debit card or your checks were stolen or something to get them to close the account.

Spot On nohiogal best acting job of my life lol

It is the harsh tuth, but BOA is very tough majority of the time. You would think they??would help their account holders, not leave them out to dry

Its more the norm than the exception with them which leads me to believe thats how they are trained.......They are masters at "I'm sorry but I cant help you is there anything else I can do"??

See they must've changed their tune after my account because I was able to put a hard block on the PDL company (Granted had to call a second time to do it), and they still let the charges come through but they would reverse the charges come Monday.

BOA put blocks on the amounts they submitted in the past but the companies submitted different amounts. So I am always calling or going into the bank to put a block on the new amounts but they said the only thing they can do is block amounts that come in. They said they can??not block the company itself which I thought did not make sense. Is that true? I am so annoyed with BOA.

I think I may have to go the route that my checks were stolen....this is so sad. I just came back from the bank and I still get the same answer they can't do anything. I think I average of 2 trips a week to the bank and a lot of hours over the phone. I am getting nowhere with BOA. I have been a customers for such a long time.

No, they can.. have you tried a different branch? When BOFA blocked them the first time, did you revoke their authorizations then? If you did.. BOFA is seriously violating the law.
I'd let OCC know that you tired yet again with both the NJ regs and Electronic funds transfers act in hand and they still refused to do anything.

I have asked BOA to block future payments from the companies but they said they can't block all transactions from the companies. They said they only can block the amounts they have seen in my bank account which they put a stop on??but not any new amounts submitted. So now those companies are submitting new amounts to my account. That does not make any sense. I have asked from putting a block on my account to putting a hard ACH hold or any??block on my account and I have be denied all my request as a Customer. I have told them numerous times that those companies are illegal in NJ and I told them I did not authorize those charges and they told me I can't block any companies but only the dollar amounts submitted. I have filed a complaint with OCC today.

But did you revoke the authorizations with the PDL companies themselves?

I have sent emails to them to stop the transactions but they continue to do it. I have received emails that they can do whatever they want and they??will continue to submit it. I have told them I have paid them off and more and they continue to increase the loan amounts. For instance I had a loan with Biggest Cash for the amount of $200. I have paid them $565 and they are saying I owe $600.

Everytime I ask for an address they do not give it to me. They said the only way they can receive payment is by using a??checking account or paying with a credit card. There is no way of sending anything. So I sent the letters thru emails.

Okay... Bofa is seriously violating laws. I'm assuming you gave BOFA copies of the e-mail revoking their transacations which is why they closed the account the first time? I'd just update OCC on what happened today. Let them handle it from here.
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did you call all the way up to corporate? this is horrible!

I have heard of people having a hard time with their bank but BoA is the worst.
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I cannot even image the stress level they are causing you.
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I would be livid and screaming at people at this point.

We all need to stop doing any business with this bank, they are horrible.?? We should all send emails to their corporate address posted and tell them what we think of them.?? (respectfully of course)?? they are probably backing several payday loan companies.

They are allowing??ILLEGAL companies to commit fraud on their customers and they won't do a dang thing about it.
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They probably feel bad for the illegals. BoA does so much illegal stuff with peoples account, like hold back deposits for days so debits will bounce and they can charge a NSF fee, ??that they don't care.
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They are like in a??brotherhood with the illegal PDLs.

I have went up the ladder of BOA. I am so stressed but I can not let it affect my life. I am trying to stay calm but it's hard. I have the companies calling me left and right and I told them it's illegal in New Jersey and I have paid what I owned and more. They keep on saying I still??owe them. One of the loans I had was only for $100 and they are saying I owe they $450. I have already paid them $325. I am getting nowhere with any business. I don't know what to do.

I have showed them the emails, print outs from the internet showing Payday loans are prohibited in New Jersey and still no action was done.

I am not one to be sue happy but at this point it would have crossed my mind.
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They are worse scum then the illegal lenders.

Okay here's what you need to do.
First and formost ingore the calls from the illegal pdl's. Every time you answer the phone encurages them to keep calling. If they call at work simply ingore it and let it go to vm (if you can) same thing at home..
2nd file formal complaints against the pdl's with your states DFI (Against the pdls we already know DFI won't go after Bofa since I called them earlier). Let DFI know that they are?? harrassing you at work/home/cell etc. Let them konw who they are/their contact info/how much you borrowed and what you paid.
3. Let Occ know what's going on with Bofa (give them an update as of today, give OCC all the info you have emails to PDL's etc)OCC usually acts pretty quickly in these types of matters, usually within a couple weeks.
If the BOFA still doesn't listen ot OCC (by reversing charges/closing account) higher a Consumer law attorney. Hell I'd do it now while waiting to hear back.. but that's just me. and from what a consumer law attorney told me you have a year to file lawsuit against BOFA for violations..