Consumer complaint received 2025-06-25 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Personal line of credit
Issue: Struggling to pay your loan — 
Company: REGIONS FINANCIAL CORPORATION
State: UT

Complaint narrative:
We had a radon mitigation system installed last year and werevery happy with the radon company itself. The system is great, it works well, the installers were nice and professional - no issues there. 

We are working towards some savings goals, so we decided to finance the project instead of paying for it completely. It's not ideal obviously, but my work from home space and playroom for our kids is in the basement, and we didn't want to be breathing in toxic fumes until we could save up to pay for the project outright. 

The radon company has customers financing through EnerBank. It had a decent promotional period ( 0 % interest for a year ). That part worked as expected. We knew once the promo period was over, the back interest would be applied and payments would begin - again, all normal and expected. 

What wedid n't expect is how little transparency there was once the payments started. 

When we logged into our account to start making payments, we noticed you can't see how much interest has accrued. It * only * shows you the principal balance. Each monthly payment went to interest first ( again, normal ), but this meant that after several months of payments, the balance was the same amount- we couldn't see how much progress we were making, if any. This lack of transparency made it impossible to see how much you owed, and make a plan accordingly. 

The monthly statements available digitally on the website also only showed the principal balance - not the balance of interest added. The payments started in XXXX, and we have paid XXXX minimum payments for 3 months. The balance didnt change at all on any of the statements, so we didnt know how much interest was added or how much it was growing. 

When I asked the customer service rep why this wasnt visible, she gave a very - frankly, XXXX - response that its because the interest would increase every day. I wonder if this is a trained response from the company or her own inaptitude, since every other loan Ive ever taken out has shown the interest charges and balance transparently. 

Their website is designed terribly- it sounds like it may be a technical error on the website 's end, but when I went to try to edit the monthly payment to more than the minimum payment, the only two options for how much to pay in the drop down bar were a blank space and " minimum payment ''. This gave me the impression that I couldn't edit the monthly payment online, since the only written option was " minimum payment ''. 

The next day when I called a customer rep, they told me I could edit the payment amount online. I still didn't see how to do it, until I clicked on the mysterious blank space that was still there from the day before on the drop down menu. After about XXXX seconds of loading time, an option to edit the payment amount appeared below. This could be a technical error, but it seems really, really weird. 

Their customer rep also informed me that if you increase the payment amount online, their system will automatically apply the extra to your next month 's due balance. This means instead of reducing your principal, they will instead delay your due date, so you don't save any money on interest or pay it off early. 

The ONLY way to pay down your balance early is to set up a direct bill pay through your bank, and send the money to them manually. 

I've had plenty of credit cards, loans, and financing accounts, and Ivenever seen this kind of setup. It feels intentionally confusing and works against the borrower, especially if you're trying to be proactive and pay it off early. Maybe I just have had good luck with transparent companies so far, but this seemed very sketchy. 

I also looked up their business address on XXXX to write a XXXX review, and the corporate office is listed as a dilapidated, weird old house, not professional at all. The address was the one given to me by their customer service rep to give my bank to send the payments to. That also seems very sketchy to me. 

Again, were glad we have the radon system and would recommend the radon contractor. Just be aware of what you're signing up for if you do their financing withEnerbank, and if you're financing, know how to work their system to avoid extra interest. If I hadn't been on top of it, we easily would have paid thousands extra in interest- which again, unfortunately is normal, but most companies don't make it * this * hard to understand and work around.

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