Consumer complaint received 2019-02-05
Company: REGIONS FINANCIAL CORPORATION
State: IL
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
Regions bank is refusing to reimburse me money that was fraudulently and unlawfully removed from my checking account.

Moreover, they are denying me the very funds that they allowed to be removed illegally, and that they had approved the withdraw by the forger, and sanctioned it to be removed from my account that they were entrusted to protect as my bank.

Additionally, and even more importantly, they assured me, that the almost {$6000.00} would be returned to my account once the paper work was completed. I was informed then, that I should " rest assured '' that they would be " there to support me '' and I " would not suffer any loss monetarily '' once the funds would be refunded by their institution.

I informed the bank that this could not have happened at a more inopportune time in my life as I was in the process of securing a new job, and was at a bit of a financial hardship at this time. I became tearful at the time, feeling an impending sense of doom and despair at my situation, and that my start date for the new job was a few weeks away, I had car and bills payments to be made and didn't have any funds to do so.

I also quite distinctly remember taking a bit of consolation in hearing that, they would refund my money. And since I was quite visibly upset, I was informed at that time that " since the checks were a forgery and not the result of my doing '' I could expect a full reimbursement, and it would only require that I submit the required forms to be completed and the money would be electronically transferred back into my account. I explicitly recall the feeling of relief and trust, that my bank would help me in this very important matter. I agreed and was assisted in filing all the required paperwork by one of their Financial Relationship Consultants / Team Leader employed in their XXXX, IL branch. This person was XXXX XXXX, he helped me file the necessary paperwork I did exactly that and was very compliant with every step of the process, providing them police records, banking records, and all the required documents. 

I then waited .... 

Months went by and I was reassured that it was still in the process of processing, as I would periodically check in with my banker ( XXXX ). My visits should all be documented as Mr. XXXX would update electronically the inquiry on his computer and I again entrusted that they would do what they had assured method would. I do specifically recall I would say I must have made at least 3 or more of those check-in type visits approximately 3 times if not more. On one occasion, I was told there was a new branch manager and things had been moved around and that he could not actually lay hands on my paperwork, to check back in a few days ... which I did. 

Today was one of those days. I am now being informed that a letter was sent to me ( which I never received ) stating, they do not intend to pay me what is, was, and should have ALWAYS been my money, and rightfully mine from the day I earned it, and then deposited into what I thought was a safe and secure Regions Bank account.

I am asking for your help and assistance in this matter. I will enclose all paperwork and records which will include dates, account numbers, police reports, and all necessary paperwork in support of my complaint. 

XXXX 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