Consumer complaint received 2022-05-13
Company: REGIONS FINANCIAL CORPORATION
State: GA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
Regions Bank put a hold on ( 3 ) settlement checks that were [ Cashiers Checks ] on XX/XX/2021 to date. 
The ( 3 ) settlement checks deposited on XXXXwere [ Cashiers Checks ] and no hold should be placed on Cashiers Checks ] accordingly to other Banks. Its against the law to put a hold on Cashier Checks and hold them without just cause. Regions Bank willfully did not accept XXXX XXXX XXXX Durable Power of Attorney/UPOAA pursuant to Georgia Law XXXX Region declared fraud, irregularity and finally admitted Regions Bank will not accept XXXX XXXX XXXX Durable Power of Attorney/UPOAA. 
Region Bank did not send the Cashiers Checks ] back to XXXX XXXX XXXX once Regions refused to accept XXXX XXXX XXXX Durable Power of Attorney/UPOAA pursuant to Georgia Law XXXX Regions froze all XXXX XXXX XXXX accounts, Personal and Business without notice, holding all his funds. XXXX XXXX XXXX debit cards was cancelled and could not be used to purchase anything. 

XXXX XXXX XXXX admitted to Regions Bank he has Durable Power of Attorney XXXX as agent for XXXX XXXX XXXX, XXXX XXXX XXXX and XXXX XXXX XXXX pursuant to Georgia Law before depositing the ( 3 ) settlement checks that were [ Cashiers Checks ] on XX/XX/2021. 
Regions Bank did not admit anything was fraudulent, irregular and Regions Bank would not accept the Durable Power of Attorney XXXX as agent for XXXX XXXX XXXX, XXXX XXXX XXXX and XXXX XXXX XXXX at all while the XXXX XXXX XXXX was making the deposit into his personal account as agent and made the deposit into his personal account that day. 

XXXX XXXX XXXX has cooperated and complied with all Regions Banks requests to resolve this matter without any success. Regions Bank continues to hold two ( 2 ) settlement checks that are [ Cashiers Checks. 
CONCLUSION Regions Bank willfully accepted the ( 3 ) settlement checks [ Cashiers Checks ] from the XXXX XXXX XXXX and deposit the ( 3 ) settlement checks [ Cashiers Checks ] into XXXX XXXX XXXX personal account because there were no known irregularities or fraud to prevent the deposit. Regions Bank did not indicate at that time during the deposit of any irregularity or fraud that would prevent XXXX XXXX XXXX from making the deposit as agent. The deposit taken five ( 5 ) minutes or more without any mention of any irregularities or fraud by Regions Bank. Regions Bank was made aware that it was ( 3 ) settlement checks [ Cashiers Checks ] in the amount of {$5500.00} each being deposited into XXXX XXXX XXXX personal account as agent for XXXX XXXX XXXX, XXXX XXXX XXXX and XXXX XXXX XXXX. Regions Bank admitted that the first {$5500.00} would be available after midnight, XX/XX/2021. And the balance would be on hold for XXXX ( XXXX ) days due to the amount. Regions Bank was very aware that the checks were ( 3 ) settlement checks [ Cashiers Checks ] and continued with depositing the ( 3 ) settlement checks [ Cashiers Checks ] into the XXXX XXXX XXXX personal account. XXXX XXXX XXXX admits that Regions Bank was aware that XXXX XXXX XXXX had Durable Power of Attorney as agent that day, XX/XX/2021 to act accordingly pursuant to Georgia Law, under the UPOAA,. The Durable Power of Attorney [ UPOAA ] is in accordance with Georgia Law, and Regions Bank was made aware and admitted it was ok to make the actual deposit that day XX/XX/2021. 

The ( 3 ) settlement checks [ Cashiers Checks ] were properly endorsed in accordance with the Durable Power of Attorney/ Statutory Form Power of Attorney under the UPOAA, and verified by Regions Bank that day XX/XX/2021. Now, Regions Bank has alleged fraud and irregularities to justify. Regions Bank to put a hold on the ( 3 ) settlement checks that are [ Cashiers Checks ] Regions Bank has violated Federal Law and State Law by refusing to accept the Durable Power of Attorney/ Statutory Form Power of Attorney under the UPOAA XXXX after receiving all legal documents from XXXX XXXX XXXX to allow Regions to release the funds or send the ( 3 ) settlement checks [ Cashiers Checks ] back to XXXX XXXX XXXX XXXX 
Actions taken by my : I provide all legal documents as requested from Regions Bank. 
Actions taken by Regions : Regions Bank alleged fraud, irregularities and not release the {$11000.00} to date. Regions froze my personal and business account and have not unfrozen then stating they are still investigating. This has been going on since XXXX Contact Person : XXXX XXXX XXXX XXXX XXXX XXXX XXXX Regions Bank XXXX XXXX  XXXX XXXX P : ( XXXX ) XXXX F : ( XXXX ) 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