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Bofa Won't Release Restricted Accounts

ellistom   |     |   2 posts since 2010

abandoned accounts that are under my mother's/grandfather's names are under restriction because she was conservator for him. he died 25 years ago, she died 10 years ago. I just learned about these accounts. She was the only child and sole heir, I am the executor for her reopened estate. They still will not release these accounts from restriction. They have stopped returning my calls. I have given them all the certified death certificates, court certified conservatorship document (explicitly stating to release ALL accounts), but they are still refusing to release the accounts, but won't say why. please help!

Ally6770   |     |   2,379 posts since 2010
First I would call the toll free number of your state's Attorney General. I believe that after 5-7 years the accounts are to be escheated to the state. Next I would email or call the FDIC. They can help or get you to the agency that will help. I had faxed the FDIC in 2008 from a mega bank (which I worked at) and had an answer within a short time, they also sent a reply to the branch manager, the regional manager and the corporate lawyers.
ellistom   |     |   2 posts since 2010
thanks so much. I tried escalating it internally but was getting the runaround (our manager is in an "all day meeting"). Because the accounts were court restricted, they could not be escheated to the state. I will try the FDIC. Thanks for the advice!  
jeremy33   |     |   7 posts since 2010
If the FDIC doesn't get the problem solved, get a lawyer.