Transportation Alliance Bank Inc.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to me
Sincerely,
*** **

This letter is our response to the complaint received May 1, 2018, from [redacted], via the Revdex.com,Reference No.: [redacted].TAB Bank’s Equipment Lending Department first learned about this circumstance on March 2,2018, when Mr. ** called TAB and notified us that his trailer had been stolen and had...

requestedinformation about the loan, which was provided. TAB didn’t hear back from Mr. ** regarding theissue for over a month until we initiated a call to Mr. ** on April 5, 2018, to follow up on thesituation. At that time, TAB was told that the insurance check had been issued and made payableto the borrower and TAB. Mr. ** was instructed to send the check to TAB for processing.Upon receipt of the insurance check, TAB deposited and held the funds until the repairs werecompleted. Per policy, TAB requires a final invoice from the repair shop before the insurancefunds are released.Mr. ** called TAB on April 18, 2018, for an update on the repair. TAB called the repair shop onthe borrower’s behalf, that same day, and was told the repairs had not been completed. Note,however, that TAB was prepared by April 19, 2018, to release the funds upon completion of therepairs.On May 1, 2018, TAB received confirmation that the repairs were completed. At that time, TABreceived the final invoice from the repair facility and wired the funds, to the repair facilities bank,as instructed.