Consumer complaint received 2024-11-09 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Banking errors
Company: REGIONS FINANCIAL CORPORATION
State: TX

Complaint narrative:
Previous CFPB complaint # XXXX addressed initial fraud. 

I am writing to request a formal investigation and compensation regarding Regions Bank 's severely deficient handling of my fraud claim, which demonstrates systematic failures, multiple regulatory violations, and a pattern of dismissive treatment that caused substantial harm. 

ADDITIONAL RETALIATORY ACTION The bank 's misconduct extended to wrongfully closing my account, adding another layer of harm and demonstrating retaliatory behavior. This wrongful closure : Created additional financial hardship Disrupted my banking relationships Required establishing new banking arrangements Caused potential damage to my banking history Demonstrated punitive response to my valid complaints Added another regulatory violation to the pattern of misconduct DOCUMENTED TIMELINE OF VIOLATIONS Initial Fraud ( XX/XX/XXXX ) : 54 unauthorized transactions totaling {$4800.00} occurred No fraud alerts triggered despite obvious suspicious pattern Bank failed to contact customer about clearly suspicious activity Basic fraud monitoring systems failed to detect identical repeat transactions Initial Claim Handling ( XXXX XXXX ) : Bank improperly denied valid fraud claim on XX/XX/XXXX Failed to provide provisional credit within required 10-day period Dismissed valid FTC Identity Theft Report without investigation Violated Regulation E investigation requirements No explanation provided for denial decision Extended Pattern of Misconduct ( XXXX ) : Multiple improper denial decisions Valid evidence repeatedly ignored Consumer protection complaints dismissed No substantive investigation conducted Pattern of regulatory non-compliance continued REGULATORY VIOLATIONS Electronic Fund Transfer Act ( EFTA ) & Regulation E : Failed to provide provisional credit within 10 business days Failed to conduct reasonable investigation Failed to consider all relevant evidence Failed to provide detailed explanation of findings Failed to follow required identity theft procedures Consumer Protection Requirements : Wrongfully closed account in apparent retaliation Failed to provide proper notice of account closure Failed to follow account closure procedures Failed to implement adequate fraud monitoring Failed to follow identity theft victim protocols Failed to maintain basic account security Failed to provide mandated consumer protections Failed to properly document investigation findings EVIDENCE OF IMPROPER HANDLING Bank 's Own Admissions : XX/XX/XXXX letter from XXXX XXXX ( Executive VP ) acknowledging error XX/XX/XXXX letter admitting additional compensation due Multiple refunds proving initial denials were wrong No explanation provided for 2+ year delay in correction Documented pattern of dismissive responses Systematic Failures : Failed to detect obviously suspicious transaction pattern Failed to implement basic fraud monitoring Failed to contact customer during suspicious activity Failed to properly investigate identity theft claim Failed to follow regulatory requirements

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