Consumer complaint received 2025-12-04 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: SIMMONS FIRST NATIONAL CORPORATION
State: MO

Complaint narrative:
Subject : Request for CFPB Investigation Mishandling of Fraud Claims Under Regulation E ( Simmons Bank ) Dear Consumer Financial Protection Bureau, I am requesting an investigation into Simmons Bank and how they have mishandled my Regulation E fraud claims. The banks contact information is : Simmons Bank Mt. XXXX XXXX Phone : ( XXXX ) XXXX Address : XXXX XX/XX/XXXXXXXX, MO XXXX Background I fell victim to an elaborate online Ponzi-style scam. I was instructed to transfer money from my bank account to XXXX XXXX, convert it to cryptocurrency, and then send the cryptocurrency to the scammers website. Once I realized what had happened, I reported it to Simmons Bank. 

Initially, I did not understand that Regulation E protects consumers from unauthorized electronic fund transfers made through payment apps like XXXX XXXX. After learning about my rights, I contacted Simmons Bank again on XX/XX/XXXX and fully explained everything, including two additional unauthorized transactions I had missed the first time.

Issues With Simmons Banks Handling of My Claims 1. The bank refused to allow me to dispute all unauthorized charges I was repeatedly told I could not re-dispute or open a new claim, even though I was providing new evidence and identifying previously missed transactions. This is a violation of Regulation E.

2. The bank incorrectly categorized my disputes Simmons Bank filed my claims as : Merchant disputes Non-receipt of goods Multiple claim dates ( XX/XX/XXXX and XX/XX/XXXX ) These categorizations are incorrect and harmful. This situation involves unauthorized electronic fund transfers, which fall under Regulation E fraud, not merchant disputes. Filing them incorrectly affects my rights and the investigation process.

3. I was instructed to pursue small claims court One representative repeatedly told me to try resolving this in small claims court, which is misleading, inappropriate, and a violation of my Regulation E protections.

4. Incorrect claim dates affect my provisional credit timeline The bank split my disputes into two separate dates even though all unauthorized transactions were reported on XX/XX/XXXX. 
This delays the legally required timeline for provisional credit. 



5. The bank only shifted its position when I threatened to contact the CFPB For weeks, I was given incorrect information, denied the ability to dispute charges, and told the wrong claim category. However, once I informed the bank on XX/XX/XXXX that I would report this to the CFPB if the issues were not corrected within one business day, their tone changed.

Despite this, I was ignored the entire business day on XX/XX/XXXX. Only around XXXX XX/XX/XXXX did a supervisor contact me, saying that the compliance department was reviewing it but they had no updates. As of XX/XX/XXXX, I still have not received another update. 



6. Ongoing delays and pushback This situation has been mishandled for weeks. I am exhausted from being put off, dismissed, and given misinformation. Simmons Banks actionsand lack of actionare violating federal law and significantly prolonging the harm I am experiencing.

Regulation E Failures Based on the above, I believe Simmons Bank has violated several Regulation E requirements, including : Failing to conduct a prompt and reasonable investigation Filing my claims under the wrong category ( merchant dispute ) Refusing to accept additional unauthorized transactions even with new information Providing misleading guidance and suggesting I pursue small claims court Not assigning the correct claim date, affecting provisional credit timelines Delaying communication and failing to provide status updates Evidence Provided to Simmons Bank I submitted extensive evidence to Simmons Bank, including : 1. IC3 FBI Internet Crime Report 2. Screenshots of scam messages, deception, and instructions 3. Online article confirming the company is fraudulent 4. Fake EIN number provided by the scammers 5. Fake Colorado Certificate of Good Standing 6. Information on another victims wire transfer to a potential scam bank account 7. Screenshots from other victims describing the same scam 8. Threatening messages from the scammers 9. Fake business address associated with the scammers 10. Screenshots of me asking the scammers when I would receive my funds 11. Proof I previously received a payout from the scam before the wallet was closed 12. The scammers crypto wallet address 13. Messages from my manager giving updates, promotions, tax information, and payout schedules 14. Screenshots of the fake PDF-style company handbook 15. Communications with Simmons Bank showing : I was told to pursue small claims court I was told I could not resubmit or add a new claim even with new evidence My dispute was repeatedly filed incorrectly as a merchant dispute My claims were filed across two incorrect dates Note About Uploaded Evidence Because the CFPB system allows a maximum of 50 pages, I will be attaching : Select key conversations with Simmons Bank showing misinformation Screenshots showing they told me to take this to small claims court Screenshots showing they refused to let me re-dispute unauthorized charges Proof that they misfiled the claim as a merchant dispute Evidence showing the split claim dates ( 11/21 and 11/25 ) Screenshots demonstrating that the bank only shifted its tone after I mentioned contacting the CFPB I have additional evidence that I can provide upon request.

Requested Action I am requesting the CFPB investigate Simmons Bank and ensure they : 1. Correctly file my disputes as unauthorized electronic fund transfers under Regulation E 2. Apply the correct claim date : XX/XX/XXXX 3. Conduct a proper, timely investigation 4. Issue provisional credit if required by law 5. Stop providing misinformation about consumer rights Thank you for your time and assistance. 

Sincerely, XXXX XXXX XXXX : XXXX Number : XXXX

Company response to consumer: Closed with explanation