Anyone bank at Regions?

I found 2 things about them this am.

1. MOBILE, Ala. -- A lawsuit alleges that Regions and RBC banks committed fraud against a Mobile man involving the payment of forged and unsigned checks, unauthorized debits and excessive account fees.

An FBI spokeswoman, meanwhile, acknowledged that the agency is conducting a criminal probe of possible irregularities at RBC.

details:

http://comment-blog.advance.net/cgi-bin/mte/mt-search.cgi?tag=RBC%20bank&blog_id=914

2. and their rating...not good.
Bankrate believes that, as of March 31, 2009, this bank exhibited a below average condition, characterized by lower than normal overall, sustainable profitability, questionable asset quality, below standard capitalization and near normal liquidity.

bankrate gives them 2 (D) out of possible 5 (A) stars.

full read is important, here:
http://www.bankrate.com/rates/safe-sound/memorandums-memos.aspx?fedid=233031

I love my new credit union.

and they're fantastic. I work in the title industry and we do business with Regions all the time. They are dreadfully disorganized, poorly trained, and their loan documents are laden with mistakes.

but putting a narrow stop loss on their stock. :D

I just did a Bankrate search for a solid bank in my area, cannot find ANY over 2 stars.

They bought AmSouth a couple years back, and I was banking with AmSouth, so I became a Regions customer. I must say, of the many banks I've used over the years, their customer service is really first-rate, in my opinion. Way better than Bank of America, which has so-so customer service and is fee happy in the extreme.

J.D. Powers put Regions dead last in 2008 for customer service and now puts them first. Somebody got paid lol.

http://www.tampabay.com/news/business/banking/article1031507.ece

but they've always been very helpful, moreso than other banks I've worked with.

Welcome to DU! :toast:

but....highly leveraged, has poor bank rating.

Nice tellers and staff don't always tell the story.

ThorDem walked into a forum full of Regions lobbyists. *Backing slowly out of the room*

And welcome to DU.

Much more fun with a roomful of folks.:hi:

I prefer these sites to bankrate YMMV

http://banktracker.investigativereportingworkshop.org/credit-unions/
http://banktracker.investigativereportingworkshop.org/banks/

For Regions specifically
http://banktracker.investigativereportingworkshop.org/banks/alabama/birmingham/regions-bank/

Troubled assets of $3bil vs capital of $11.5Bil is an ugly ratio. If recent write-offs after the FDIC has shut banks down is any indication, the ratio may be much worse.

:hi: