How To File A Complaint Against A Bank

If you feel a bank has been “misleading, discriminated against you in lending, or violated a law or regulation,” you can file a complaint with the Federal Reserve Board.

Send a letter to:

Board of Governors of the Federal Reserve System
Division of Consumer and Community Affairs
Mail Stop 801
20th and C Streets NW
Washington, DC 20551

They will then forward your letter on to one of the 12 regional bank boards for investigation. The Federal reserve does not regulate Issues like customer service or specific bank policy, but they will be interested if your bank is breaking the law. Hit the link for more info on how the complaint process works,

How To File A Consumer Complaint Against A Bank [Federal Reserve Board] (Thanks to Bast!)

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  1. Hoss says:

    Here’s an example of how to get faster service: A few months ago I was reading the nightly newspaper and saw an ad for a Certificate of Deposit at a particularly good rate. I brought the ad and a check to that particular bank first thing in the morning. They didn’t honor the rate from the prior night’s paper (said it was an old rate, etc). I wrote my congressman (Barney Frank)– he immediately asked the head of the FDIC to have someone investigate and get back to him. I got two letters from Mr. Frank within three weeks — the first outlining the banking rules in these cases, then a copy of a letter from the FDIC who investigated this very small bank and agreed that they violated banking rules on advertising.

    Write your congressman — particularly if they are on the house banking commission (or whatever they call themselves).

  2. Hoss says:

    Here’s a link to the House Banking Committee members (chaired by Barney Frank)
    http://financialservices.house.gov/who.html

  3. Bryan Price says:

    Years ago when my (now) wife’s mother passed away, a branch manager for the mother’s accounts was acting real funky. Partly due to the fact that the manager was trying to act like the pension being received was Social Security (It wasn’t, it was Railroad Retirement — something about Social Security paid ahead, but Railroad Retirement paid behind. Way too long ago for me now), and closing the accounts seemed to be an impossible task. My wife and her sister contacted me because where I worked at the time (Ohio Department of Commerce), they regulated state banks.

    Of course, this bank wasn’t a state bank, but I found out who to contact (The Comptroller of the Currency back then), the account got handled correctly after about two months, and then two months later, that branch manager was indicted for mishandling accounts. Gee, you think?

    So yes, if you think something is a little iffy, go trounce on them.

  4. shdwsclan says:

    Cool, i could use this to threaten a bank…
    Not lasalle, but another bank I use for free checking, and because of their advice lost me $300, among poor customer service…but the checking is free…

  5. wrongnumber says:

    My mother is going through this exact thing, up here in Canada, trying to switch banks handling the mortgage . The old bank (HSBC finance) was adding illegal fees something like $15,000 tranferance fees to end the mortgage with them. Also they held up the tranfer process,for 3 weeks, charging interest penalties and then they increased the interest they were charging with no notice an additional 80 bucks a day,and proceed to blame the new bank for the hold up! (which it was definately not, the new bank was documenting their side.)

    Then my mom tried to contact the regional manager from the old bank, who said she was involved with the mortgage transfer from the begining.The regional manager admitted the transfer fee was wrong only after my mom brought it up with her, as well as the change in fee rates.

    The old bank returned the 5000 that had been over the maximum transfer fee, but only 300 more for the extra interest fees. My mom doesn’t know who to go to next to resolve the fact that the old bank purposefully held up the process to get more cash out of her.
    Where to go from here?