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Bank of America Faces Lawsuit Over Missing Deposit

Bank of America Faces Lawsuit Over Missing Deposit

A Bank of America client is exploring legal options following an alleged loss of a long-held certificate of deposit (CD) that has appreciated significantly in nearly 30 years.

Realtor Enid Bavard claims she invested $10,000 in a CD in 1997 for her son’s education, acquired from Barnett Bank, later merged into Bank of America.

Enid estimated the current value at around $39,000 due to accrued interest over 27 years.

Upon attempting to cash out, BofA couldn’t locate her CD record, leaving Enid dismayed. Despite inquiries, no trace was found with Florida Unclaimed Funds Account.

BofA stated they retain records for seven years, closing Enid’s account over seven years ago.

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The financial institution’s search yielded no evidence of the CD’s existence. Determined, Enid plans legal action against BofA to reclaim her investment.

Enid’s case sheds light on the importance of safeguarding financial records and the challenges customers may face when dealing with large banking institutions.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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