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The Federal Reserve can help individual consumers by answering
questions about banking practices, and investigating complaints
about specific banks under its supervisory jurisdiction. Complaints
about financial institutions that are not supervised by the
Federal Reserve System are referred to the appropriate federal
agency.
As a federal
regulatory agency, the Federal Reserve System investigates
consumer complaints received against State chartered banks
that are members of the System. If you think a bank has been
unfair or deceptive in its dealings with you, or has violated
a law or regulation, as a consumer you have the right to file
a complaint.
The Federal
Reserve is particularly concerned that state member banks
comply with federal laws and regulations that prohibit discrimination
in lending. In such cases, additional steps are taken to ensure
that your complaint is promptly and thoroughly investigated.
Before
writing or calling, the Federal Reserve encourages consumers
to try to settle the problem with the financial institution
first. This may involve directly contacting senior bank management
or the bank's customer service representative for assistance.
If you are still unable to resolve the problem, you may file
a written complaint with the Federal Reserve including the
following information:
- Your
name, address and daytime telephone number, including area
code
- Name
and address of the bank involved in your complaint or inquiry
- Your
bank account or credit card number
- The
name of the person you contacted at the bank, along with
the date, if applicable
- Description
of the complaint: state what happened, giving the dates
involved and the names
of those you dealt with at the bank
- Include
copies of any letters or other documents that may help to
investigate your complaint
- Do
not send original documents. Copies are preferred
- Remember
to sign and date your letter
It is
important to give as much information about the problem as
possible; this will assist in providing a quicker response
to you.
Send your
complaint to:
Board
of Governors of the Federal Reserve System
Division of Consumer and Community Affairs
20th and C Streets, N.W., Stop 801
Washington, DC 20551
For further
information you may call the Federal Reserve at: (202) 452-3693.
Consumer
complaints filed against state member banks are investigated
by the 12 regional Federal Reserve Banks. Once your complaint
is received, it will be reviewed by the consumer affairs staff
who will contact the bank about your concern. The Reserve
Bank will investigate each issue raised in your letter and
ask the bank involved for information and records in response
to your complaint. If additional information is needed, the
Federal Reserve will contact you by telephone or in writing.
The Reserve Bank will analyze the bank's response to your
complaint to ensure that your concerns have been addressed
and will send a letter to you about its findings. If the investigation
reveals that a federal law or regulation has been violated,
you will be informed of the violation and the corrective action
the bank has been directed to take.
Although
the Federal Reserve investigates all complaints involving
the banks it regulates, it does not have the authority to
resolve all types of problems. For example, it is unable to
resolve contractual disputes, undocumented factual disputes
between a customer and a bank, or disagreements about bank
policies and procedures. These matters are usually determined
by bank policy and are not addressed by federal law or regulation.
In many instances, however, by filing a complaint a bank may
voluntarily work with you to resolve your situation. If, however,
the matter is not resolved, the Federal Reserve will advise
you whether a violation of law has occurred or whether you
should consider legal counsel to resolve your complaint.
Other
Federal Agencies
Comptroller
of the Currency
Office
of the Ombudsman
Customer Assistance Unit
1301 McKinney Street
Suite 3710
Houston, TX 77010
1 (800) 613-6743
(regulates banks with national in the name or N.A. after the
name)
Federal
Deposit Insurance Corporation
Compliance and Consumer Affairs
550 17th Street, N.W.
Washington, DC 20429
(202) 942-3100 or 1 (800) 934-3342
(regulates state chartered banks that are not members of the
Federal Reserve System)
For the telephone number and address of a regional office
near you, click
here.
Office
of Thrift Supervision
Consumer Programs
1700 G Street, N.W.
Washington, DC 20552
(202) 906-6237 or 1 (800) 842-6929
(regulates federal savings and loans and federal savings banks)
National
Credit Union Administration
Office of Public and Congressional Affairs
1775 Duke Street
Alexandria, VA 22314-3428
(703) 518-6330
(regulates federally chartered credit unions)
Federal
Trade Commission
Consumer Response Center
6th and Pennsylvania, N.W.
Washington, DC 20580
877-FTC-HELP - toll free (877-382-4357)
(regulates finance companies, stores, auto dealers, mortgage
companies, and credit bureaus)
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