Regions Bank

Cearley Law Firm is investigating possible claims against Regions Bank on behalf of Arkansas account holders.

Some major banks have been successfully sued in other states for “profiteering,” and after discussions we’ve had with Regions Bank customers in Arkansas, we believe Regions Bank may have been engaging in these same activities. Our firm is investigating possible claims against Regions on behalf of Arkansas account holders.

“Profiteering” has been described by the courts as the bank deliberately implementing policies to process its customers’ checks, debit card transactions, and bill payments from the highest dollar amount to the lowest, rather than in the order the transactions took place.
This policy obviously drains the customers’ bank accounts faster, and drives up overdraft (or “NSF”) fees charged to the customers’ accounts by the bank. Many Regions customers we’ve spoken with have told us of experiences where they used their debit cards for multiple small purchases, and were then charged hundreds of dollars in overdraft fees because the bank re-ordered the transactions and cleared the largest transactions first.

These customers were charged multiple NSF fees, where they may have only had one NSF fee, had their transactions processed in the order they were made, rather than from largest to smallest.

This practice has led to millions of dollars in fees to the banks. In similar litigation against another bank, one court stated that “internal bank memos and emails leave no doubt that overdraft revenue is a big profit center, and the bank’s dominant, indeed sole, motive was to maximize the number of overdrafts in order to squeeze as much as possible from its customers with overdrafts.”

Our firm is committed to investigating claims of this sort on behalf of Arkansas Regions Bank customers.

Contact us us today.