ED Magedson – Founder
My deceased, mentally challenged sister had a savings account with Capital Bank, bought by Union Planters Bank, bought by Regions Bank. Her account was active in the late 1970's when she was working at a sheltered workshop making $0.50/hr. The savings account represented one years earnings for her and was important to her.
After her death, the passbook was found and Regions Bank was notified of the account number, dates, amount, etc. No record existed of the account at Regions Bank and no statements were ever received in the mail. Regions Bank said inactive accounts were turned over to the state after a period of time depending on the state. I double checked with the state unclaimed property and they confirmed the account was never turned over to them as it should have been by law.
Regions Bank has not responded to my request asking where did the money go. Theft is the illegal taking of another person's property without that person's freely-given consent. What is Regions Bank hiding? Where did the money go?
This report was posted on Ripoff Report on 05/11/2010 02:33 PM and is a permanent record located here: http://www.ripoffreport.com/r/Regions-Bank/internet/Regions-Bank-Savings-accounts-with-no-activity-Internet-602143. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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