Consumer complaint received 2025-08-07 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: RENASANT CORPORATION
State: GA

Complaint narrative:
Summary of Complaint : We are filing this complaint against Renasant Bank for multiple serious violations of federal and state law, including : Unauthorized and Unlawful Freeze of a XXXX  XXXX Account Negligent Release of Secured Collateral ( XXXX XXXX XXXX  ) Discriminatory Conduct Against XXXX Customers in Violation of the XXXX Violations of Regulation XXXX ( Electronic Fund Transfers ) Breach of Contract and Promissory Estoppel Predatory Lending and Coercive Collection Practices Violations of the Georgia Fair Business Practices Act Details : On or about XX/XX/XXXX, Renasant Bank unilaterally and without legal authority froze our XXXX XXXX account ( No. XXXX ), which was used for critical living expenses, including medical treatment, insurance, and utility payments. The bank did this without court order, XXXX, or contractual authority, while simultaneously admitting in writing to the negligent release of the XXXX of XXXX ( XXXX ) that secured our loan. 

This action resulted in : Cancelled XXXX XXXX  due to insufficient access to funds Emotional distress and reputational harm Potential Utility Disconnections Lapsed insurance payments Medical hardship We both have documented XXXX protected by the Americans with XXXX XXXX ( XXXX ). The freeze and refusal to remedy it constitute discrimination in access to banking services under XXXX XXXX. XXXX and related regulations. 

Additionally, on XX/XX/XXXX, XXXX  employee XXXX XXXX promised by text to extend the loan under interest-only terms through XX/XX/XXXX, stating : Lets do it interest only for now until it renews again in XXXX of XXXX. 

We relied on this promise and did not seek alternative financing. However, the bank reneged and used the freeze as a coercive tool to force unfavorable repayment, despite having negligently released the collateral. This conduct fits the pattern of predatory lending under XXXX, Georgia XXXX XXXX XXXX XXXX  XXXX. XXXX ), and Dodd-Frank Title X ( XXXX XXXX XXXX XXXX et seq. ). 

The promissory note includes an arbitration clause and a conflicting court venue clause, rendering the arbitration agreement ambiguous and possibly unenforceable under Georgia XXXX. XXXX  XXXX XXXX XXXX v. XXXX, XXXX XXXX XXXX. XXXX ( XXXX ) and the XXXX XXXX XXXX ( XXXX ) due to unconscionability and procedural unfairness. 

Additionally, the bank violated : XXXX C.F.R. XXXX ( c ) failure to notify of blocked electronic transfers XXXX XXXX. XXXX ( c ) failure to properly investigate errors XXXX XXXXXXXX wrongful dishonor of a properly payable item XXXX XXXXXXXX breach of duty of care requiring extraordinary diligence XXXX XXXXXXXX deceptive practices under Georgia XXXX XXXX. XXXX failure to follow secured lending rules Despite a detailed demand letter referencing all applicable laws, the bank refused to rectify the situation, escalated collection, and continued to blame us for their admitted mistakesthus doubling down on discriminatory, deceptive, and unfair practices. 

XXXX Requested : We respectfully ask the CFPB to investigate Renasant Bank for the following : Immediate unfreezing of our joint account Full release from the loan due to loss of collateral Written admission that the XXXX  was released negligently Cease any adverse credit reporting. 

Reimbursement of all overdraft and penalty fees XXXX compliance enforcement for denial of access to medical care Review and enforcement of all CFPB regulations and Dodd-Frank Title X provisions Civil penalties, where appropriate, for predatory lending, coercion, and failure to correct errors Supporting Documentation : We have attached the following : The XXXX and XX/XX/XXXX text message exchange with bank XXXX XXXX XXXX XXXX XXXX of the promissory note with contradictory arbitration/jurisdiction language XX/XX/XXXX, letter from Renasant Bank ( XXXX XXXX XXXX admitting XXXX XXXX released in error. 

Our formal demand letter outlining applicable statutes, injuries, and demands Screenshots of medical appointment cancellations due to frozen funds

Company response to consumer: Closed with explanation