Bank OZK review: I request they drop their overpriced insurance burden and refund any money.

I am writing to file a formal complaint against Bank OZK for their unjust treatment and price gouging tactics in relation to forced insurance coverage for my RV.

To provide some context, my original insurance with Geico was abruptly canceled, compelling me to seek coverage through AAA. During the application process with AAA, their underwriters requested paperwork from my previous insurer, which caused a delay. As a result, there was a brief lapse in my insurance coverage. I acted in good faith throughout this process, diligently working with the insurance companies to ensure my RV was insured. After some time, AAA eventually received the necessary paperwork and subsequently issued a policy for my RV.

However, during this time, Bank OZK took it upon themselves to impose on me their own high-priced coverage. Even after I presented them with email correspondence that clearly evidenced my ongoing efforts to secure coverage from reputable insurance companies, they persisted in their stance. To make matters worse, they used this situation as an excuse to mandate an exorbitant charge.

I approached Bank OZK's VP, Mr. Rick Malone, seeking a resolution. While he tried to assist and rectify the situation, I was dismayed to learn that the bank's insurance division overruled his decision. They persisted in penalizing me, a loyal customer, who was merely caught between bureaucratic delays of large insurance companies.

As a result, I am now burdened with an unjust escrow payment of $227.39. I am seeking the immediate removal of this charge and any refunds due.

I believe it is essential for institutions to act with integrity and fairness, especially when customers are striving in earnest to meet their obligations. Bank OZK's behavior, in this case, has been far from exemplary. It's alarming that a bank would exploit a temporary lapse in coverage, especially when the client is actively working to rectify the situation.

I kindly request that the Better Business Bureau intervene in this matter. I believe that customers deserve fair treatment, and institutions should be held accountable for practices that betray the trust of their clientele.