CFPB Now Taking Complaints About Checking, Savings Accounts

Seven months after launching its credit card complaint portal, the Consumer Financial Protection Bureau has started taking complaints from checking and savings account customers — and actually expects banks to respond.

“[C]hecking and savings accounts — whether they are with a credit union, a thrift, or a bank — can also be a source of great frustration,” writes the CFPB. “We have heard story after story of consumers being hit with fees they did not expect and do not understand. We take these complaints very seriously.”

So the CFPB has created this form that allows consumers to file complaints on checking accounts, savings accounts, CDs and a wide variety of other bank products and services like check cashing, money transfers, cashier’s checks and money orders.

You can also go online to check the status of your complaint once its been filed.

“We expect banks to respond to complaints within 15 days and close them within 60 days,” says the CFPB.

We’d love to hear from people who try this form whether or not banks are reacting and responding in so timely a manner.

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