Consumer complaint received 2024-11-17 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Charged fees or interest you didn't expect — 
Company: REGIONS FINANCIAL CORPORATION
State: TX

Complaint narrative:
My wife and I purchased a solar panel system through XXXX XXXX XXXX back on XX/XX/XXXX who brokered the sale. XXXX XXXX XXXX XXXX XXXX was the company who installed our panels while Regions, formally known as Enerbank USA, financed the transaction. XXXX XXXX XXXX XXXX XXXX XXXXXXXX had explained to us that our monthly bill for the system would be $ XXXX at a 1.49 % interest rate. While filling out our application for the panels we also informed them that we only made $ XXXX. Their coach informed them to instead write that we made $ XXXX even after reiterating 3 times that, that was not the case. XXXX also explained to us that we didn't have to pay for the system for the XXXX year if we chose to and would also qualify for a tax credit to help us pay off the panels sooner. My husband and I decided to start paying on our XXXX year of having our panels and while doing our taxes we soon discovered that we were not eligible for the tax credit, and have since been paying a monthly charge of {$250.00} instead of the $ XXXX while our rate went up to 1.99 %. In the recent time of having panels we also experienced our local electric company giving us astronomically higher bills than we have ever paid before and continue to do so. We were told we would see lower bills, instead we are paying higher bills and a high monthly charge for our solar panel system. My wife and I sought legal advice through an attorney provided by XXXX XXXX. After reviewing the contract given to us by XXXX XXXX XXXX XXXX, a year after purchasing the panels, our Texas attorney wrote a letter on our behalf stating the multiple Texas Business codes broken in this transaction. 

Furthermore, this entering of a XXXX XXXX and Install Agreement occurred at our home. Texas Business and Commerce Code Chapter 601 applies to the Agreement as a transaction between XXXX XXXX XXXX XXXX  XXXX, being the installer and merchant, and my husband and I as the consumer, where their agent engaged in a personal solicitation of a sale to consumer at a place other than your place of business or the agreement to purchase is given by the consumer at a place other than their place of business. 

Section 601.052 requires XXXX XXXX XXXX XXXX XXXXXXXX to provide us with a complete copy of a contract pertaining to the transaction, and such contract must contain, in immediate proximity to the space reserved in the contract for the signature of the consumer, in boldface type of a minimum size of XXXX points a notice that we may cancel the contract at any time prior to midnight of the third business day after the date of the transaction. The Agreement was not delivered to us at the time of the transaction and did not provide such notice. 

Section 601.053 requires in part that XXXX XXXX XXXX XXXX  XXXX as merchant attach to the agreement a completed notice of cancellation form in duplicate that contains certain information in XXXX boldface type described in such statute. No such notice of cancellation form was attached to the Agreement.

Section 601.201 provides that a sale or contract entered into in violation of Section 601.053 ( b ) is void. Accordingly, the Agreement is void, and Section 601.202 provides that a merchant who violates the notice of right to cancel provisions is liable to the consumer for actual damages suffered by us as the consumer as a result of the violation, reasonable attorney 's fees and court costs. 

In this letter our Texas attorney encouraged XXXX XXXX XXXX XXXX XXXX to resolve this matter in a timely manner without the need for further legal action. Our attorney gave them 15 days after the date they received this demand letter to move on the matter. To which they to this day of XX/XX/XXXX have not responded. My wife and I were also told that our other contract given through Enerbank USA was under Utah jurisdiction. XXXX XXXX provided us with a Utah based attorney who also reviewed Enerbanks ' contract and discovered the Utah business codes that were broken. Our Utah attorney then sent out a letter on our behalf to Regions, or Enerbank USA, encouraging them to resolve this matter within XXXX business days as of XX/XX/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 non-monetary relief