Date Received: 2020-07-04
Issue: Problem when making payments
Subissue: You never received your bill or did not know a payment was due
Consumer Complaint: I was shocked when I reviewed my credit report and found 120 days late payment on the dates XX/XX/2019 to XX/XX/2019. I am not sure how this happened, I believe that I had made my payments to you when I received my statements. My only thought is that my monthly statement did not get to me.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AL
Zip: 363XX
Submitted Via: Web
Date Sent: 2020-07-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-30
Issue: Problem with a purchase shown on your statement
Subissue: Credit card company isn't resolving a dispute about a purchase on your statement
Consumer Complaint: I made a purchase and did not recieve services for what i paid. I contacted the credit card company regions bank but they did not resolve it.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MS
Zip: 386XX
Submitted Via: Web
Date Sent: 2020-06-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-30
Issue: Problem caused by your funds being low
Subissue: Overdrafts and overdraft fees
Consumer Complaint: As a single father battling XXXX, I have been charged {$6000.00} in bank fees over the past 5 years. The banks are oppressing poor, lower-class citizens. Here 's how : Assume the following : There is an account with {$200.00} and the account opt-in to overdraft coverage. The account takes transactions of {$60.00}, XXXX, XXXX, XXXX, XXXX, and XXXX. It has the available funds to cover these transactions at the time of authorization. Consider these six transactions pending. Therefore the available balance is {$0.00}, and the posted balance is still {$200.00}. The account makes another transaction of {$1.00} the next day ( say from an auto-bill transaction ). This {$1.00} transaction overdrafts the account by {$1.00}. This transaction is also pending. The available balance is now $ XXXX, yet the posted balance still {$200.00}. The {$60.00}, XXXX, XXXX, XXXX, XXXX, and XXXX transactions post. This occurrence puts the posted balance at {$0.00}, with an available balance of $ XXXX. Since the available balance is negative at the time the transactions post, the account will be charged overdraft fees for all of these transactions. These fees will equal {$210.00}. This occurrence will put the account at - {$210.00}. The {$1.00} transaction posts the following day. The bank will also assess another {$36.00} fee for this transaction. This occurrence will put the account at - {$250.00}. Total fees in example : {$250.00} for a {$1.00} overdraw. My bank has even all-but-confirmed this scenario with me in an email correspondence. I feel this may rise to the level of unconscionability, Full correspondence with bank : Me : >Hi [ redacted agent ] -, >Assume the following : >There is an account with {$200.00} and the account opt-in to overdraft coverage. >The account takes transactions of {$60.00}, XXXX, XXXX, XXXX, XXXX, and XXXX. It has the available funds to cover these transactions at the time of authorization. Consider these six transactions pending. Therefore the available balance is {$0.00}, and the posted balance is still {$200.00}. >The account makes another transaction of {$1.00} the next day. This {$1.00} transaction overdrafts the account by {$1.00}. This transaction is also pending. The available balance is now $ XXXX, yet the posted balance still {$200.00}. >The {$60.00}, XXXX, XXXX, XXXX, XXXX, and XXXX transactions post. This occurrence puts the posted balance at {$0.00}, with an available balance of $ XXXX. Since the available balance is negative at the time the transactions post, the account will be charged fees for all of these transactions. These fees will equal {$210.00}. This occurrence will put the account at - {$210.00}. >The {$1.00} transaction posts the following day. The bank will also assess another {$36.00} fee for this transaction. This occurrence will put the account at - {$250.00}. >Total fees : {$250.00} for a {$1.00} overdraw. >Is this right? >Thanks, > [ redacted self ] Agent : >Good morning [ redacted self ], >While I very much appreciate you taking time to understand how the posting order and overdraft occurrence works I would not be able to give insight as to if your scenario is correct or not. I can say that regardless of how many overdrafts your scenario would cause, if the account in the scenario was opted-out than the {$1.00} transaction would not have been authorized and an overdraft instance would not be a consideration. >Thank you, > [ redacted agent ] Me : > [ redacted agent ] - >Thank you for the quick response. >Why would you not be able to give insight to whether this scenario is correct or not? >I understand that if the account was opted out that it would not have been assessed any fees. Thank you for this subtle advise. > [ redacted unrelated sentence ] >Thanks, > [ redacted self ] Agent : >Hi [ redacted self ], >With a hypothetical that was not something processed through our system I can not be certain what the outcome would be. While I looked at scenario and the math it appears you are on the right track with how it would work due to the fact of the available balance being the negative {$1.00} but I can not say for sure the overdrafts in your scenario would be accurate. >While I appreciate your understanding and continuing to ensure you completely understand how the posting order and overdrafts work as it is an important aspect of operating a checking account. I would also recommend taking time to utilize some of the tools and resources available through our Online Banking. One tool specifically would be the Account Alerts. These would be a preventative measure where you can set a Balance Limit and any time your balance gets below a given balance ( i.e. {$50.00} ) you can opt for a text or email alert. There is also another option regarding setting up a specific account to be linked for Overdraft Protection that would be too wordy for an email that I would be happy to go over with you also. >Like I said, I really do appreciate you taking the time to understand how the overdrafts work, I prefer to set up measures that will prevent the situation of an overdraft coming up. I am not deflecting your scenario in any way, it is just difficult for me to comment on something that could happen that hasnt actually been processed in my system. I will say that your scenario is very similar to what we talked about the other day but with easier transaction amounts and balances to help see what would happen. >Thank you, > [ redacted agent ] Me : >Hey [ redacted agent ] - >Thank you for your correspondence. >The issue I take with the ruling in this hypothetical is the only reason the account 's available balance is in the negative is because the funds were " set aside '' [ agent 's words ] for these exact transactions [ you charged overdraft fees for ], for wh en it came time for them to post. > [ redacted self ] Agent : >I understand and that makes sense. With everything that can happen with transactions nowadays the computer system can not run with hypotheticals built in or even take into consideration the balance when the transaction was authorized. A pending transaction can post for more, less, not at all or at a delayed time not the current or next business day. It is important also to know that with your scenario, if a deposit was made the day the {$1.00} transaction was made that brought the account positive that would avoid an overdraft situation from occurring, only if made during that business day. >Situations like you presented do happen and cause both confusion and problems. The way transactions show on an account are continuously being updated based on new processing methods and trends for how customers use their accounts. I have been in banking for 8 years and have seen 2 updates which both were in favor of the customer. Me : >Hey [ redacted agent ] - >It 's almost as if the transactions are being posted against the available balance when they should " post '' against the posted balance. >Mainly if the account has a positive posted balance after the transaction clears, a fee should not be charged yet, or if the available balance was there at the time of the transaction, a fee should not be charged yet ; either way would make more sense, at least to me. It would seem this is where the system disagrees, and where much of the confusion stems from. >In any case, I am moving on and putting this behind me, although I do think it is rather strange. And, please, excuse my candor. I thank you for all your help. I understand that time is invaluable and I greatly appreciate your continued efforts. I look forward to our future business. >Have a great day! >Regards, > [ redacted self ] Agent : >I can see what you mean. And you are partially right, a transaction counts towards both posted and available balance, the system will take into account if either balance goes into the negative and if so, an overdraft has resulted due to that particular transaction. What you are saying does make sense but is just not how the regulations have been set up. >I was glad to have helped you with this issue and no apology is needed. I understand this is and can be frustrating but I am thankful that you were willing to take time to understand that happened and work through it constructively. To me that makes these types of interactions worth it. > [ redacted unrelated sentence ] This correspondence came after I had already tried pleading with the bank manager in person at the branch, while the exact scenario laid out was happening to me but with different transaction amounts. The bank refused to refund the money and stated that is how the system works. If you overdraft your account, you are going to pay the fees, even if you don't agree that each transaction was legitimately an overdraft.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33756
Submitted Via: Web
Date Sent: 2020-06-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-30
Issue: Managing an account
Subissue: Banking errors
Consumer Complaint: On XX/XX/2020 I received an email from regions bank that says {$400.00} Welcome Bonus I completed all the requirements & made the 10 transactions by XX/XX/2020 I waited after the 90 days to check on the bonus. I called 2 weeks ago after being transferred twice & spending hour on the phone Regions Bank reneged on the {$400.00} bonus. I went through a lot of hassle & stress to complete the deposit & 10 transactions by XX/XX/2020. I received a email that was misleading with a big Bright lime green banner that says welcome bonus. The email title said {$400.00} welcome bonus. Regions had a hidden fine print that was loaded with fees. Regions reneged on my bonus & gave me a - {$10.00} account that was sent on postcard..
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IN
Zip: 468XX
Submitted Via: Web
Date Sent: 2020-06-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-29
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Due to unforeseen personal medical expenses I shopped around for insurance coverage for my condominium to see if I could save a little money. I was able to find a policy that met the requirements of my mortgage holder, Regions Mortgage, and for less of a premium than my prior insurer. Insurance is paid through escrow. When the new policy was written, Regions never paid the bill and a new policy had to be written. My new insurance agent called Regions, sent the bill according to Regions ' instructions and followed up with them when the bill was not paid. Finally, I alerted Regions in writing that I was without insurance coverage unless and until the bill was paid. At that point, a completely new policy had to be written. Instead of taking ownership of the problem Regions itself created, Regions billed me {$120.00} for lender-placed coverage for what they deem as a retroactive lapse in coverage in XXXX of this year. The attached documents show my two attempts to obtain insurance through XXXX XXXX ( in XXXX and XXXX ) and a Regions statement showing the {$120.00} charge. Essentially what Regions has done here was to take my alerting of them of my condo not having insurance in order to try and profit from their mistakes. Conflicts of interest between mortgage companies and insurance companies for purposes of forcing customers to buy insurance are common in this industry and I have identified what could be a conflict of interest between Regions and its insurance company. Dozens of phone calls and written correspondence to Regions trying to resolve this matter have yielded nothing. Please help!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 341XX
Submitted Via: Web
Date Sent: 2020-06-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-28
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My name is XXXX XXXX. I have a mortgage with regions bank via XXXX, MS Office. My loan # XXXX. I was originally with XXXX XXXX XXXX and they retired and sold to Regions. Since that time it has become a nightmare. The XXXX office employees deletes my payments at will. I made recent payments. And I spoke to XXXX XXXX at the XXXX office XX/XX/XXXX she sent a payment ledger and added every single payment back. The office employees has selected my account to be a toy or punching bag and log in to their PC and delete my payments at will. I was working with XXXX XXXX there and she sent me a payment roster in XX/XX/XXXX showing every one of my payments they had deleted my payments so much she sent me the actual Bank payment ledger showing every payment finally got it straight. The employees there have charged me for several appraisals and no one has ever been to my home I need that money back. I pay close to 1,200.00 for mortgage monthly me and my 2 relatives. I have been tortured every since I got behind and caught up they at the office make smart remarks but that's OK the cancellation of all my payments from the PC is awful. We are trying to make the may payment and cant because they have deleted all my payments.AGAIN! It is a Regions nightmare and it needs to stop. I have begged the President to fix it he either doesn't care or lets the folks at XXXX, MS do what they like. I haven't missed a payment last year they had my payment so jacked up XXXX XXXX had added them all back she sent me a payment ledger. It showed every single payment they kept messing with my account The President moved to XXXX TN to make payment XXXX, MS cut that off by deleting about 8 of my payments, they all need to be fired actually. No employee or business owner should be able to treat an account holder like this just because I caught up they should be happy since they send me lying letters saying they are here to help. If they stop deleting my payments I will be fine. PLEASE help me I am trying to make my current payment had they have falsely moved all my other payments around got me owing over {$5000.00} guess what 2 months ago I have receipt for XXXX and XXXX payments XXXX and they are dated as such the PC wouldn't let you pay those months if they weren't correct. I need assistance and help I am just trying to pay my bills and this office of adult who are evil are torturing me and Lord knows who else.My name is XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX XXXX. A tortured soul. A victim of Region Hate. their phone number is XXXX for Ms. XXXX XXXX who was the one re-adding all the payments and sent the ledger showing every single payment. This has to stop I need an immediate remedy. Please do not show my phone number or address, or last name if this is published i have enough going on at this time. I desperately need help and only you can do it.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MS
Zip: 39206
Submitted Via: Web
Date Sent: 2020-07-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-28
Issue: Problem caused by your funds being low
Subissue: Non-sufficient funds and associated fees
Consumer Complaint: On XX/XX/XXXX XXXX XXXX check deposited {$600.00} and paid a {$5.00} fee for immediate deposit. I noticed that the deposit sequence was not customer friendly and I was charged NSF of {$72.00}. I called the bank, they know Im elderly and on a fixed income, and the couldnt show me the courtesy of trying to resolve this issue. Please help me. XXXX XXXX XXXX, AL
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AL
Zip: 351XX
Submitted Via: Web
Date Sent: 2020-06-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-26
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: My spouse & I applied for mortgage refi with Regions around XX/XX/XXXX My wife currently has an existing home loan # XXXX XXXX ( XXXX XXXX ) with Regions and were looking to refinance the existing loan with a joint loan at a lower interest rate for around $ XXXX. The existing loan is $ XXXX/mo and our debt at the time could have all been paid off and only cost us an additional $ XXXX/mo, but not have to pay out the monthly hundreds of dollars that we had been paying. In other words, we were leveraging our debt from $ XXXX/mo w/ our business expenses. From {$8900.00} to $ XXXX/mo, a no brainer right? Both my wife and I have XXXX FICO scores with mine being over XXXX. Considering the XXXX to 1.5 % rates the banks got from the feds, they were suggesting an 8.5 % loan. When I told them no way, they later denied our loan application. We received NO documents afterwords, NO denial letter in writing and NO " Know B $ you Owe '' pamphlet. We had been banking with Regions for 3.5 years, personal, business and savings. Again, the current rate form 3 plus years ago is 4.25 % fixed, they would consider anything less than a " suggested 8.5 % '' as informed on the phone. Also, Regions has a problem, like most banks, of customer 's curtailing their loans and paying off more than 12 payments per year. We paid about 14 payments per year. Why would anyone offer twice as much in interest, for being an outstanding customer and NEVER late? Regions punishes us for this and some call us " deadbeats '' because they're not maximizing their interest profits! Regions is NOT participating under current standards and guidelines. Instead they choose to trap their customers into high interest rates, despite one 's good standing. We're tired of being gouged in interest! Secondly, Regions over inquired against our credit report and lied about XXXX XXXX 's credit score on behalf of our business C/C. We had once previously attempted to refi 3 years ago and after running our credit which ran a XXXX score, they ran XXXX XXXX 's credit again, two weeks after and allocated that he had a XXXX score. We had applied to a business offer of up to $ XXXX @ 8 %, however, they gave us $ XXXX with a said XXXX, but@ 22.49 %. Even during Covid 19 and a previous refund issue, they are eager to maintain maximum interest profits. Regions has NOT giving us ANY legitimate reason for denying our loan application other than their own financial gain. I'm not saying that they are not entitled to a profit, they're just out to XXXX you in interest! We respectfully request that you look into Regions and acquire as requested. We would also appreciate the reversal of hard credit inquiries that they have wasted and cost us. Our business C/C # XXXX XXXX XXXX XXXX and they also assigned another # XXXX XXXX XXXX, that's confusing. It's still one account. Their interest charges are unfair and unjust. We also have about 80 % plus equity in our home and our XXXX tax income came in around {$110000.00}, so what's their problem? As advised thereafter, they are suppose to acquire only 6 pieces of information and hand out a 22 page pamphlet before wasting your time, fico points and allowing you an opportunity to be qualified before further procedure. Thank you
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30024
Submitted Via: Web
Date Sent: 2020-06-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-24
Issue: Trouble during payment process
Subissue:
Consumer Complaint: After paying off my home loan, I reached out to the lender to request that the original promissory note that I signed at closing be marked " PAID IN FULL '' and returned to me. The person I spoke to said that she had never heard of having to return the original note to the borrower. She insisted that a mortgage release would be filed with the county and that would suffice. Under Finance Code Sec. 342.454, a lender is required to cancel and return to the borrower any note and/or instrument that secured the loan, specifically the promissory note. Below is the text of the law : Finance Code Sec. 342.454. RETURN OF INSTRUMENTS TO BORROWER ON REPAYMENT. Within a reasonable time after a loan is repaid in full or an open-end account is terminated according to the terms of the contract, a lender shall cancel and return to a borrower any instrument, including a note, assignment, security agreement, or mortgage that : ( 1 ) secured the loan ; and ( 2 ) does not secure another indebtedness of the borrower to the lender. Unfortunately it has been my experience that it takes undue effort on the part of a borrower to convince a lender to return the original note. Once again, as I have in the past, I am enlisting the help of the CFPB to force the lender/servicer of my loan to return the original, wet-ink copy of the original promissory note I signed on XX/XX/2016. The CFPB has helped me with an identical issue with a former lender in the past ( CFPB case # XXXX ). In that case, CFPB referred my complaint to the Office of the Comptroller of the Currency, who in turn investigated my complaint and was able to force to lender to return the original promissory note to me. I am hoping the CFPB can do the same this time as well. Thank you.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CO
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-06-24
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-24
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: On Sunday XX/XX/2020 I deposited Cash into the ATM at XXXX XXXX XXXX XXXX, XXXX Florida for the amount of {$3000.00}. The ATM had technical Difficulties and did not process my transaction however did not return my cash either. It gave me a receipt stating I must return to the branch when it is open to " reclaim or receive my items deposited ''. The very next mourning on Monday XX/XX/2020 I went to the bank to do so. The bank said I need to file a dispute so I did. I just called the bank corporate number and they said the dispute is closed and no credits issued! I have filed a police report which I will attach the case number. I made this deposit between XXXX and XXXX on XX/XX/2020. I have attached proof of everything.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 341XX
Submitted Via: Web
Date Sent: 2020-06-24
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A