American National Bank & Trust

Initial Business Response /* (1000, 8, 2015/07/15) */
American National Bank of Minnesota never received any POA regarding this individual nor did we have any conversations from family members until they surrendered the collateral for this loan
This individual was licensed by the State of MN to
drive a motor vehicle
He came into the bank and clearly articled that he wanted loans to buy automobiles, provided the documentation necessary to underwrite the request, was ultimately qualified for financing, and singed loan documents
On June 22nd an individual came to American National Bank of Minnesota and said they were here to drop of an automobile securing one of our loans from a deceased family memberThat individual was sent into my office and handed me the keys and pointed to a van out in the parking lotI had this person sit down and I explained to them that it would be in their best interest to sell the vehicle and pay the loan offThey stated that they did not care and wanted me to take possession of the vehicle and that they were no longer going to make the payments on the loanAt that time they left my office and the loan per the Promissory Note was considered to be in defaultUnder the Promissory Note the bank has the right to offset deposit accounts, including joint accounts, which we did that day and applied all of the proceeds to the loan
On June 29th the vehicle was sold and the loan was paid off in full and the excess proceeds were returned to the borrowers account
Initial Consumer Rebuttal /* (3000, 10, 2015/07/16) */
(The consumer indicated he/she DID NOT accept the response from the business.)
American National Bank was given the POA on the date the account was initializedAfter the death of the family member, I went to the bank to ascertain information on any loans and was advised by a bank staff member that the POA expires upon death and they could not give me any loan informationClearly they were fully aware of the POAShe also advised me that the only way they could give me that information was to hire an attorney, go before a judge and have an executor assigned to the estateSince there was no estate, that seemed ridiculous so the vehicle was returned to the rightful owner, the bankAgain, without consulting me or even giving me a heads up, they withdrew every penny in the joint bank account leaving outstanding checks bouncing then charged for overdraft fees
Twice I called the bank asking that no loans be given without consulting me firstEach time I was ignoredAdditionally, they gave the deceased a credit card again without consulting meI called them on that as well again being completely ignored
The loan officer suggested the family sell the vehicle; the problem with that was we didn't own the vehicle to sellAgain, that would have required, a lawyer, judge and executor
Apparently, instead of doing the right thing in returning their property, we should have just left the van in the apartment parking lot until it was towed away
I do not appreciate how the bank is now claiming they had no knowledge of the POAThat is a liePerhaps the loan officer should have done his due diligence and reviewed the files before allowing my aged father-in-law to financially overextend himself
To resolve this issue I want all the NSF fees reversed,an apology and ANB to change their business practices to start abiding by the POA's for the benefit of others out there who may run into the same problemsI also want this to be a clear warning to everyone out there that American National Bank does not honor POA's so if they think a POA will protect themselves and their aging loved ones, it does not
Final Business Response /* (4000, 12, 2015/07/20) */
To date we have not received a POAThe account being referenced was a joint checking account with both parties having access to the fundsThe account that you opened was not a custodian or guardian account that would have required a POA or similar documentWhoever you talked to must have told you the procedures after death for a POA with out checking the file
This was in no way a financial overexertionThe individual qualified for the loan and had established credit history and documented income to support
As I have told you each time that we talked and I told the individuals bringing back the collateral I am truly sorry for the loss of your loved oneI refunded your NSF fees previously and will do it again this time