EddieJayonCrypto
26 Jun 25
Bank of America mistakenly discharged a loan of 75-year-old homeowner Diane Jaques after merging with FleetBoston Financial. To fix the error, the bank asked her to sign documents, but after she struggled with the process, they sued her along with over 100 other Massachusetts homeowners who didn’t c...
Bank of America mistakenly discharged a loan belonging to 75-year-old homeowner Diane Jaques after merging with FleetBoston Financial. The error occurred while the bank was cleaning up paperwork on thousands of mortgages following the merger.
To correct the mistake, Bank of America requested Jaques sign documents, including notarized paperwork. Jaques struggled with the process and eventually did not complete it, leading the bank to sue her along with over 100 other Massachusetts homeowners who failed to respond.
Jaques expressed frustration over the situation, emphasizing that she had never missed a payment and considered the lawsuit “a nightmare.” The bank eventually dropped the lawsuit after she complied and signed the necessary documents.
Bank of America spokesperson Bill Halldin explained that the lawsuits were filed as a last resort to correct records when homeowners didn’t voluntarily complete the paperwork. The bank agreed to cover correction and notary expenses but will not reimburse any attorney fees homeowners might incur.
This incident highlights the complications that can arise from financial institution mergers and the challenges customers face when administrative errors occur, especially involving older homeowners.