Consumer complaint received 2020-02-24
Company: Cadence Bank
State: MS
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem with a lender or other company charging your account
Sub-issue: Transaction was not authorized

Complaint:
I have been a long time customer of BancorpSouth Bank, for over 30 years. On XX/XX/XXXX while reconciling my bank statements, I discovered an unauthorized debit to my checking account in the amount of {$430.00} to XXXX XXXX XXXX. I immediately contacted the bank, was transferred all over the world, and had to repeat the problem over and over again. No one knew what to do or how to handle. I spend most of the day on the phone and even drove to the local branch location and no one there knew how to handle either. 

The debit posted to my account on XX/XX/XXXX and was on my XX/XX/XXXX bank statement. Due to critical illness of an immediate family member and subsequent death, I was unable to reconcile my last several months bank statements until XX/XX/XXXX. 

The bank told me that I would need to contact XXXX about the " disputed authorized transaction ''. They are repeatedly putting words in my mouth and calling it an disbuted authorized transaction when in fact it was an unauthorized transaction. There is a quite a difference. The debit card used in this transaction has always been in my possession and was never lost or stolen. I have not given anyone else permission to use my card. My husband does not even want a debit card because of all of the fraud and theft involved with these cards. Historically, I normally only use my debit card to withdraw funds from my account at a BancorpSouth Bank ATM so I won't have to go inside a branch. I pay for all of my daily expenses with either cash, credit cards or by paying with a paper check. I rarely if ever use my debit card because of the liability. 

I contacted XXXX and have provided two communications. The first is an email dated XX/XX/XXXX, stating that they reviewed my XXXX account and did not locate any charge in the amount of {$430.00}. It also states that the card number in question is NOT listed as a payment method on my XXXX account. The second communication is a detailed copy of the only order I placed with XXXX in XXXX in the amount of {$35.00}. I use XXXX to pay for all of my orders through XXXX and always have. 

After finally deciding they knew how to handle the my unauthorized transaction, the bank provided provisional credit and started their investigation. I received a letter from the bank dated XX/XX/XXXX, stating a billing error had occurred, the case was closed and the provisional credit was final. Several days later, I received another letter from the bank stating a billing error has not occurred and the provisional credit was being revoked. Confused yet??? Right hand does not know what the left hand is doing. Very typical experience with a bank that has had little training and very poorly managed. 

I called and requested investigation documents on XX/XX/XXXX and was told I would receive the investigation documents within 24 hours by email. After not receiving any response let alone documentation, I called again on XX/XX/XXXX and was told because the unauthorized transaction was over 60 days old, they did not have anything to provide. 

Regulation E does not provide a statute of limitations on a consumer 's right to claim an EFT was not authorized. I guess BancorpSouth Bank is enforcing their own unfair limitations and practices. According to Regulation E, the bank does not have to comply with 12 CFR 1005.11 related to error resolution timing notices and provisional credit for unauthorized transactions that appear on statements provided more than 60 days before the claim was received. The bank must still comply with 12 CFR 1005.6 related to unauthorized transactions and the consumer liability limits. 

The UEFT was on my XX/XX/XXXX statement. Sixty calendar days after this statement is XX/XX/XXXX. Any UEFTs occurring on or after XX/XX/XXXX would be my liability. There have been none. Any UEFTs occurring before XX/XX/XXXX, which I reported to the bank as an unauthorized transaction would be subject to reimbursement. The {$430.00} transaction is an unauthorized transaction that I have reported to my bank in a timely manner. Their past and continued practices related to unauthorized transactions under Regulation E are unfair, deceptive and abusive. How many others have they harmed?? 

Would definitely like to see this bank reviewed for issues with patterns and practices of unfair, abusive and deceptive practices of Regulation E. It is obvious to me there is no consideration for consumer protection laws and regulations at this bank.

Company response to consumer: Closed with explanation