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  • Report:  #1411151

Complaint Review: BBVA Compass Bank - Birmingham Alabama

Reported By:
BBVA - Houston, Texas, United States
Submitted:
Updated:

BBVA Compass Bank
15 20th Street S Birmingham, 35233 Alabama, United States
Phone:
(205) 297-1986
Web:
N/A
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BBVA Compass stole over $40,000 from our memory-disabled, elderly mother's social security check over 5 years from her "free" BBVA bank account.They used aggressive and misleading (false) sales tactics to convince her to transfer her Social Security checks to BBVA instead of another bank.

With false advertising such as labeling and promising the bank account would be "FREE" and have "no fees whatsoever", they locked her into their bank. At the start of her relationship with BBVA Compass, she had her life savings invested in a home, car, and she had 0 debt, her Social Security was sufficient to cover all of her monthly expenses. But BBVA systematically and SECRETLY withdrew her Social Security income each month, which caused her to not have enough income to pay her bills and fall behind. BBVA's theft of her social security caused to her loose her home, her car, be unable to pay for her food and critical care so she's lost her home, care, phone (to call for help) and everything she had.

She went from living in a beautiful home that she purchased with her life savings after working hard her whole life, to now being homeless and having to go door to door at shelters to get food and a place to sleep at night. Companies should not be allowed to rob our most vulnerable citizens (senior citizens, disabled and single mothers and children) of everything they've historically worked hard to build and paid into Social Security ---only to be robbed of their social security, home, car and food by a BILLIONAIRE bank and forced out onto the streets to live in extreme poverty in crippling poverty at risk of rape, starvation, and death. BBVA Compass should not be allowed to maximize their PROFITS at the expense of our most vulnerable citizens (the elderly, the disabled, and single mothers and children). We need to protect our most vulnerable and make greedy banks such as BBVA return every penny of what they've taken from our disabled and elderly's Social Security checks.

In just our mother's case, they've taken over $40,000 in just over 5 years she has had her $700 a month check deposited into what BBVA Bank labels their "FREE" bank account. Please help us bring visibility of BBVA's illegal practices to attention of the Federal Government decision-makers, White House, FTC, Attorney General, BBB and all public complaints boards.

Monetary Loss: $40,000.

Preferred solution: FULL REFUND of every $1 the bank took out of her so-called “FREE” bank account. 

Refunding her social security checks (every penny they took) might enable her to more likely get back what they stole: her home, car and retirement savings to replace the social security, home, well over $100,000 in equity (retirement savings) she has invested into her home, and car that BBVA Compass Bank’s theft robbed from her of with their self-serving, unethical theft of her social security income.



1 Updates & Rebuttals

Jim

Anaheim,
United States
5 Years = $42,000

#2Consumer Comment

Fri, November 10, 2017

You have quite a few problems with your narrative - with the glaringly obvious one that your Mom had $42,000 deposited into her account over the 5 year period.  Trouble is, according to your narrative, she had enough money to survive on, which means she didn't starve over the 5 year period she banked with this institution.  She had to spend that money eating, living, driving her car for a while, etc...  I have no reason to believe your narrative is incorrect with regards to her ability to live on $700 per month, but there would have been no way for the bank to steal all her money and for her to eat and drive, and just basically live.

Another problem is banks are allowed to change policies regarding "free accounts".  Now there were ways in which the fees could have been avoided, such as $500 in a savings account (according to the bank's fee schedule).  Another way would have been for someone to go in with Mom, close the account, and open the account elsewhere.  Again, the most Mom would have had to pay in fees was about $100 per year unless Mom was consistently overdrafting her account which would have incurred a lot of charges even with a free account.

Finally, if you were aware of Mom's memory issues, I don't understand why no one was allowing her to handle her own finances without some supervision or assistance?  She would not have owed income taxes, but she would have owed other taxes on the car and home, not to mention all of the other expenses associated with living.  It's easy to blame the big bad bank for the ills of the world.  I get it.  This is not one of those situations however where the narrative fits the blame; it was completely avoidable.  Best of luck to you.

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