What is the Regions Bank penny scam?

Question

What is the Regions Bank penny scam?

Answer 1

Watch the movie Office space. It will tell you exactly what it is.

Answer 2

When a customer closes an account at Regions, some Regions representatives will go through the motions and tell the customer that the account is closed. In reality what happens behind the scenes is that one penny is left in the account, and all automatic fees and mailing of statements are discontinued for the account in an effort to conceal this fraud from the customer.

It has been suggested that this has been done with 1 million accounts per year, why? It's possible it's to make the bank look like it has more customers than it has to shareholders

Another possibility is that it's to meet targets for branches to reduce churn (the loss of customers).