I contacted you to update my personal information since everytime I went to do it online , you kept on trying to upsell me on fee based products. I manage my own Portfolio. You then put a lock on my account, and force me to contact you. I contacted you to update my information, and spoke with a customer service representative. I then proceeded to notify your customer service agent that I will be processing a rollover request from Merrill Lynch, Bank of America to a new IRS.Lo and behold, when I went ahead to do that via direct transfer, roll over, you all sold my portfolio, cut a check and marked it as an early distribution with Federal tax withholding, subject to early distribution penalty. Just FYI, I know exactly what I was doing, because I'm not financially illiterate, and I understand the tax consequence since I work in Tax!I will be submitting my complaint to consumer affairs, BBB, and any other public facing source available. Additionally, since you sold my asset and marked as a distribution subject to early withdrawal penalties, I'm also going to be contacting CFPB and my attorney in for Negligence! If the institution processes the transaction without proper consent, it may fall under "negligent banking practices" or even "fraudulent withdrawal." If this happens, the account holder may have legal grounds to dispute the transaction under Regulation E (for electronic transactions) or Uniform Commercial Code (UCC) Article 4 (for checks).
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