Consumer complaint received 2022-08-04
Company: REGIONS FINANCIAL CORPORATION
State: FL
Product: Money transfer, virtual currency, or money service
Sub-product: Check cashing service
Issue: Confusing or misleading advertising or marketing

Complaint:
TO WHOM IT MAY CONCERN : RE : REGIONS BANK, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX GOOD DAY : THIS IS IN REFERENCE TO AN ERROR THAT OCCURRED BY THE BANK EMPLOYEE -- NOW TURNING INTO A DISCRIMINATORY EVENT AT THE END OF XXXX THIS YEAR ( XXXX ) MY HUSBAND WENT INTO REGIONS BANK ( WHERE OUR SAFE DEPOSIT BOX IS ) AND RETRIEVED FOUR ( 4 ) US GOVERNMENT EE SAVINGS BONDS TO REDEEM AT THE BANK. HE SAT DOWN WITH A CSR AND INFORMED THE REPRESENTATIVE THAT HE WISHED TO CASH THESE BONDS, WHICH WERE PASSED THE MATURITY DATE. THE REP. TOOK THE BONDS FROM MY HUSBAND AND PROCEEDED TO " STAMP '' THE BONDS ( TWO 2 OF THEM -- THEN SHE ASKED MY HUSBAND " DO YOU HAVE AN ACCOUNT HERE? '' MY HUSBAND POLITELY REPLIED, NO WE DID NOT HAVE AN ACCOUNT THERE, ONLY A SAFE DEPOSIT BOX. SHE THEN HANDED HIM BACK THE TWO ( 2 ) BONDS TELLING HIM SHE WAS UNABLE TO CASH THE BONDS BECAUSE HE DIDN'T HAVE AN ACCOUNT. MY HUSBAND OFFERED TO OPEN AN ACCOUNT RIGHT THEN AND THERE. SHE STILL REFUSED, ADVISING HIM THAT THE ACCOUNT HAS TO BE OPENED FOR A TOTAL OF SIX ( 6 ) MONTHS BEFORE SHE COULD CASH THEM. THEY " WALKED HIM TO THE DOOR '' AND ASKED HIM TO GO TO THE BANK WHERE WE DO BUSINESS. 
MY HUSBAND DROVE TO XXXX XXXX XXXX. HE SAT DOWN WITH THE XXXX AND GAVE HER THE BONDS TO REDEEM. SHE TOOK XXXX LOOK AT THE BONDS AND SAID SHE COULD NOT REDEEM THEM BECAUSE THEY WERE " STAMPED '' BY REGIONS BANK, AND ADVISED HIM TO GO BACK TO REGIONS FOR OUR PROCEEDS. 
SINCE " XXXX '' THE MANAGER OF REGIONS SAID THEY COULDN'T DO IT ... HE SIMPLY DID NOT RETURN TO REGIONS. 
UPON ARRIVING IN XXXX XXXX ON XX/XX/XXXX WE TOOK THE BONDS TO OUR CREDIT UNION HERE. 
WHEN MY HUSBAND WAS APPROACHED BY THE CSR HERE AT XXXX XXXX XXXX, THE FIRST QUESTION THAT SHE ASKED HIM WAS " DO YOU HAVE AN ACCOUNT HERE? '' HE REPLIED YES, SO SHE TOOK HIM INTO HER OFFICE. UPON EXAMINING THE BONDS, SHE BECAME AWARE THAT THESE BONDS WERE ALREADY " STAMPED '' BY ANOTHER INSTITUTION AND FOR US TO RETURN TO THE ORIGINAL BANK ( REGIONS ) WHO MADE THE ERROR. 
TODAY IS XX/XX/XXXX AND WE ARE STILL TRYING TO PURSUE THIS UNFORTUNATE EVENT. 
YESTERDAY, I REACHED BACK OUT TO XXXX ( XX/XX/XXXX ) MANAGER OF REGIONS BANK, WHERE WE INITIALLY TRIED TO REDEEM THE BONDS. 
I TOLD XXXX I WAS READY TO " OPEN AN ACCOUNT '' ONLINE, AND ASKED HIM HOW MUCH I HAD TO PUT INTO IT SO THAT I COULD CASH THE BONDS IN XX/XX/XXXX AT THEIR BANK. HE ADVISED ME {$300.00} FOR A NO FEE ACCOUNT IF WE MAINTAINED THE {$300.00} BALANCE EVERY MONTH. I ALSO INFORMED XXXX, THAT UPON REACHING OUT TO THE TREASURY DEPARTMENT FOR A RE-ISSUE OF THESE BONDS, THEY EXPLAINED TO US THAT THE TURN-AROUND TIME FOR THIS TRANSACTION IS 9 MONTHS TO 1 YEAR -- MAYBE LONGER -- THEY ARE THAT FAR BEHIND. NOT TO MENTION, THAT EVERY TIME WE'VE ATTEMPTED TO REACH OUT TO THE TREASURY DEPT. THE WAIT TIME, NO MATTER WHAT TIME WE CALL, IS AN AVERAGE OF TWO ( 2 ) HOURS BEFORE THEY ANSWER. 
YESTERDAY, XXXX INFORMED US THAT EVEN IF WE OPEN UP AN ACCOUNT... AND KEEP IT OPEN FOR SIX ( 6 ) MONTHS ... WHICH IS THEIR " SPECIFIC CRITERIA '' FOR REDEEMING BONDS, WE STILL WILL NOT BE ABLE TO REDEEM OUR BONDS AT THAT BANK. 
AGAIN, THAT IS EVEN THOUGH WE HAVE AN ACCOUNT FOR SIX MONTHS AT THEIR BANK, WHICH IS WHAT THEY REQUIRE ( THEIR SPECIFIC CRITERIA ) TO REDEEM GOVERNMENT BONDS. WE WERE WILLING TO DEPOSIT WHATEVER AMOUNT XXXX SAID HE NEEDED, WHETHER IT WAS {$30.00}, {$300.00}, {$3000.00} OR {$300000.00}. 
THIS IS, BY FAR, WITHOUT A DOUBT, DISCRIMINATION IN THE HIGHEST REGARD TOWARDS THE BOTH OF US. 
NO EXPLANATION WAS EVER GIVEN TO US AS TO WHY " WE '' COULDN'T REDEEM OUR SAVINGS BONDS THERE. 
WE ARE LAW ABIDING CITIZENS, RETIRED ; HAVE A CREDIT RATING IN THE 800 'S ... AND ARE NOT LOW-LIFES, OWN XXXX HOMES AND HAVE ACQUIRED A SUBSTANTIAL AMOUNT OF CURRENCY DURING OUR LIFETIME, & ARE COLLEGE GRADUATES WITH XXXX DEGREES BETWEEN THE XXXX OF US. 

WE BOTH HAVE A FEELING THAT THE MANAGER WILL NOT LET US IN THE BANK TO GAIN ACCESS TO OUR SAFE DEPOSIT BOX UPON RECEIPT OF THIS COMPLAINT. 

THIS BANK IS DISCRIMINATING AGAINST US.

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