Consumer complaint received 2025-07-27 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: RENASANT CORPORATION
State: GA

Complaint narrative:
I am seeking to file a complaint concerning serious misconduct by a branch manager, XXXX XXXX, of XXXX XXXX XXXX, now Renasant XXXX, which has resulted in significant financial, medical, and emotional harm to me and my wife. In XXXX, I obtained a {$25000.00} loan secured by a {$25000.00} certificate of deposit ( CD ) at XXXX XXXX XXXX. Due to internal negligence, a bank employee improperly allowed the CD to be cashed out. Next, XXXX XXXX sent me a text suggesting we convert the loan to interest only for now until it renews again in XXXXXXXX XXXX XXXXXXXX, noting, trying to get this done prior to our merger completion with Renasant. The loan was never in default. 
Firstly, upon discovering the banks error, XXXX XXXX called me demanding that I return the {$25000.00} for the CD. Shortly thereafter, she froze our personal joint checking account without notice or legal basis, conditioning release of funds on my agreement to fix the collateral issue caused solely by the banks internal failure. My wife and I jointly own the account in question, and my wife, who is not listed on the loan, and the funds therein were unrelated to any delinquent obligation. At the time of the freeze, the loan was current, and no lawful garnishment or legal process had been initiated against the borrower. As a result, we were denied access to funds needed for critical expensesmost importantly, my XXXX  medication and food, and my wifes prescribed medications. We were also unable to pay our vehicle insurance and other household bills. Additionally, we were forced to shut down our XXXX XXXX XXXX, which depended on those funds for operational expenses, resulting in lost income and reputational harm. 

I believe the bank and its manager violated multiple Georgia laws and banking regulations. First, under O.C.G.A. 11-4-402, this freeze constituted a wrongful dishonor, since the account was properly payable and not subject to legal hold. Second, Georgia law allows set-off only when the same party holds both the account and the debt, and the debt is in default ; neither condition applies here, making the freeze an unlawful set-off under the standard in Caye & Co. v. Milledgeville Banking Co. Third , the unauthorized withholding of funds from a jointly owned account supports a claim for conversion under Georgia tort law. Fourth, given that the freeze denied me access to life-sustaining medication and caused us both emotional and financial hardship, we may also have claims for negligent infliction of emotional distress. Fifth, the freeze violated our deposit agreement, amounting to a breach of contract, and it interfered with our ongoing business relationships, potentially supporting a claim for tortious interference. Moreover, the managers effort to conceal the banks error before the Renasant merger and coerce repayment under duress constitutes bad faith and constructive fraud. The managers conduct also violated Georgia Department of Banking and Finance Rule 80-1-5-.01 ( 6 ), which mandates internal safeguards to prevent release of collateralized deposits. Additionally, this may warrant a criminal referral for felony theft under O.C.G.A. 16-8-2, as the bank manager knowingly and unlawfully deprived us of access to funds exceeding {$1500.00} in value, which were not subject to any legal claim. 
Relevant case law includes Donmoyer v. Columbus Bank & Trust Co., which supports wrongful dishonor and conversion claims where funds are mishandled ; Thrash v. Georgia State Bank, affirming joint account holders ' right to pursue dishonor claims ; Burrowes v. Bank of America, which clarifies that only lawful garnishment or process can justify such freezes ; and Caye & Co., which limits set-off to matured debts held in the depositors name. We have preserved text messages from the manager, financial statements reflecting the freeze, evidence of denied transactions, and documentation of both medical need and business losses. We are requesting a legal review of this matter, including an assessment of whether civil litigation, injunctive relief, or regulatory or criminal complaints should be pursued. We also request advice on potential damages, including compensatory, punitive, and injunctive relief, as well as guidance on whether to file formal complaints with the Georgia Department of Banking and Finance and the Consumer Financial Protection Bureau.

Company response to consumer: Closed with explanation