Consumer complaint received 2023-09-10
Company: REGIONS FINANCIAL CORPORATION
State: FL
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
All bank accounts and loan addressed in this complaint are with Regions Bank. Store has an ATM machine and the money we put in the machine are deposited to stores checking act. at Regions Bank by XXXX, XXXX. An automatic payment was set up directing the money from the checking account to pay for the monthly loan payments. 
XXXX loan payment of {$5100.00} deposited and backed out by Regions Bank and accounts were accidentally closed by Regions Bank per our local Regions Bank XXXX late fee charged XXXX late fee backed out XXXX late fee charged XXXX new accounts opened and loan payment made for XX/XX/XXXX XXXX loan payments for XX/XX/XXXX and XX/XX/XXXX made and everything up to date XXXX late fee charged and XXXX late fees backed out ***When new bank accounts with different act. numbers were set up the automatic payment was no longer authorized. 
***From XX/XX/XXXX through XX/XX/XXXX Regions bank could not figure what was going on and we could not get any answers from the local Regions Bank XXXX Money deposited into the checking account were taken out. The local bank tried to solve the problem but could not get answers from the loan department. They were just as perplexed as we were. Sometime during this time the loan account was frozen. 
XXXX contacted by the loan department and was told we hadnt made a payment in over a year. According to our records at that point we had overpaid by {$1200.00} XXXX XXXX, XXXX the loan department contact us and advised us to fill out a fraud report XXXX we received a letter from XXXX XXXX XXXX XXXX XXXX, XXXX XXXX, stating XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  XXXX for default of loan payment.. that were not made from XX/XX/XXXX and all subsequent payments. Regions is demanding the principal, interest through XX/XX/XXXX ( per dime thereafter : {$16.00} ), late fees, prepayment penalty, attorneys fees and costs. We have been asked to provide data that we dont have access to because are accounts are frozen and we do our banking on line. The date the bank is asking for the bank has. 
XXXX XXXX, XXXX the checking account was opened for a brief period of time and we deposited about {$22000.00} to add to the money we already had in the account for a total of about {$31000.00} and a additional deposit for a loan payment of {$5100.00}. 
*** To date we still do not have answers to why our accounts are in such turmoil and I do not think they themselves knows what happened and are trying to figure what went wrong. We have been told by XXXX XXXX we can not contact the bank because the bank is his client. 

***It has been 3 months and we have not heard anything on this case. Because of the default we can not get a loan and could possibly loose our business. 

***Our hands have been tied during this entire time.

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