Consumer complaint received 2023-11-06
Company: REGIONS FINANCIAL CORPORATION
State: TX
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Credit denial

Complaint:
Regions Financial Corporation Subject : Formal Default Notice and Assertion of Intent to Initiate Legal Proceedings To : CFO XXXX XXXX XXXX XXXX, Regions Financial Corporation I am penning this communication to officially inform you about a breach of a financial obligation involving your corporation and to express my intent to commence legal proceedings due to a lack of response or written confirmation from yourself, XXXX XXXX XXXX XXXX XXXX. 

This notice serves to elucidate the circumstances leading to this default and offer an opportunity for Regions Financial Corporation to rectify the situation prior to the escalation of legal action. 

XXXX. Description of Default : Over 21 days prior, I duly notified Regions Financial Corporation of my intent to apply for an Auto Loan. Despite my persistent attempts to rectify perceived disparities and discriminatory practices, my good faith efforts appear to have been disregarded. I am cognizant that the commercial paper application could have been utilized as collateral for the Auto Loan. Despite this, not only was this possibility not entertained, there was an attempted imposition to use the vehicle as collateral. I am clear in my stance of not offering gifts and I had accordingly endorsed the application, lending it equitable value, and sent responses to adverse action letters through registered mail. However, these efforts appear to have been met with unauthorized representatives overstepping their bounds, leading to a breach of contract and resulting in a default with Regions Financial Corporation. 

2. Detailed Explanation of the Issue : Regions Financial Corporation was duly notified in good faith 21 days prior to my application for an Auto Loan. Actions taken by Regions, perceived as disparate and potentially fraudulent, have resulted in a breach of contract between the secured party and debtor. The consumer does not offer gifts and it is disconcerting that despite policy statements to the contrary, discriminatory practices appear to be in place. Authorized representatives of Regions Financial Corporation have seemingly chosen to disregard the situation resulting in complaints being made to the CFPB, Federal Reserve, and FDIC. The CFPB has advised taking this matter to court. 

3. Efforts to Rectify the Issue : I have made numerous attempts to amicably resolve this issue. These attempts include reaching out to Federal Reserve, CFPB, branch managers, and supervisors at Regions Financial Corporation on multiple occasions. These efforts have been met with unsatisfactory responses, further exacerbating the situation. 

4. Demand for Rectification : Given the default, and the lack of progress in resolving this, I demand the following remedies : Will be invoiced due to the Acquiescence of schedule fee and the terms and conditions of live life Claimant, and {$5000.00} for each day the Registered Mail RF XXXX XXXX XXXX US with Endorsed security Commercial paper was ignored or hidden from CFO XXXX XXXX XXXX XXXX breech of fiduciary responsibility 5. Intent to Initiate Legal Proceedings : Failure by Regions Financial Corporation to address and rectify this default within 90 days from the receipt of first notice will leaves me with no option but to initiate legal proceedings to protect my rights and interests. This may include, but is not limited to, filing a lawsuit against Regions Financial Corporation and all officers and Authorize Agents in their personal capacity to seek appropriate legal remedies. 

6. Contact Information : Please direct all future correspondence regarding this matter to : XXXX I remain hopeful that a swift resolution to this matter is in the best interest of all parties involved and trust that Regions Financial Corporation will treat this notice with due seriousness, aiming for a fair and satisfactory resolution. However, sInce there was no action within the specified timeframe, I will have no choice but to proceed with legal action without further notice. 

Thank you for your immediate attention to this matter. 

Respectfully, XXXX XXXX XXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation