Bank of America accused of seizing millions of dollars in assets from a customer.

Bank of America accused of seizing millions of dollars in assets from a customer.

A new lawsuit accuses Bank of America of abruptly seizing millions of dollars in assets from a customer and failing to return them. The complaint alleges the bank opened Canadian coin collector Levend Coskun's safety deposit box and took a large collection of gold and silver coins without proper notice. The incident allegedly occurred when Bank of America closed a branch in Garden City, New York, where Coskun's safety deposit box was located. Coskun's lawyers say the bank failed to inform him of the incidents, even though it involved a collection worth about $3.6 million. After receiving no response from the bank, Coskun allegedly drilled into the safe deposit box, confiscated the coins and sent them to an out-of-state warehouse. During a meeting with a bank employee, Coskun allegedly received an already opened UPS package that had lost weight because almost all of the coins were missing. Coskun accuses the bank of not carrying out sufficient investigations to clarify the incident. Bank of America is accused of willful misconduct, gross negligence, breach of contract and other allegations, while Coskun is seeking compensation for the loss of the coins, loss of income, emotional harm, legal fees and other damages.

Bank of America facts and customer disputes

Bank of America is one of the largest banks in the United States and offers a wide range of financial services. It has a long history of litigation with customers ranging from users of account services to large customers such as corporations and investors.

Some well-known examples of Bank of America disputes include:

1. Wohnhypothekenkrise: Im Jahr 2014 einigte sich die Bank of America auf eine Rekordstrafe von 16,65 Milliarden US-Dollar wegen ihrer Rolle bei der Krise des US-Wohnungsmarktes im Jahr 2008. Die Bank war an Hypothekenkrediten beteiligt, die in Wertpapieren gebündelt wurden und letztendlich an Wert verloren haben.
2. Verkauf von Hypothekenanleihen: Im Jahr 2016 stimmte die Bank of America einem Vergleich über 1,27 Milliarden US-Dollar zu, um Vorwürfe zu beenden, dass sie minderwertige Hypothekenanleihen an Unternehmen wie Fannie Mae und Freddie Mac verkauft hatte. Die Wertpapiere verursachten erhebliche Verluste für diese Unternehmen.
3. Gebühren für Überziehungskredite: Im Jahr 2011 stimmte die Bank of America einem Vergleich über 410 Millionen US-Dollar zu, um Vorwürfe zu beenden, dass sie ihren Kunden unangemessene Gebühren für Überziehungskredite berechnet hatte. Die Bank hatte angeblich unbeabsichtigt negative Saldooptionen für Kunden aktiviert und hohe Gebühren erhoben.

These incidents show that Bank of America has faced repeated legal issues and disputes in the past, which has affected customer trust.

The case of Levend Coskun and possible implications

The Levend Coskun case sheds further negative light on Bank of America and its handling of customer assets. If the allegations prove to be true, this could cause significant damage to the bank's image and further undermine the trust of its customers.

These types of disputes impact the entire financial industry. It raises questions about the security of bank lockers and the protection of assets, particularly when it comes to valuable collections such as gold and silver coins.

It is important that banks have appropriate procedures and protocols in place to ensure that customer assets are protected and handled properly. Such an incident can affect customers' trust in the banking system and lead them to look for alternative ways to manage their assets.

Conclusion

The present case raises questions about the responsibility of banks when dealing with customer money and assets. Bank of America, one of the largest banks in the United States, is accused of unlawfully seizing a customer's assets. Such disputes can undermine customers' trust in the banking system and raise questions about appropriate safeguards and protocols. It remains to be seen how Bank of America will respond to the allegations and whether the case will be resolved in court. Customers should closely monitor the development of this case and carefully review the security measures of each bank with which they do business.