Where do I file a complaint against a bank in the US? (2024)

Where do I file a complaint against a bank in the US?

Examples of complaints include if you think a bank has been unfair or misleading, discriminated against you in lending, or violated a federal consumer protection law or regulation. To file a complaint, you can: File online. Call toll-free at 888-851-1920 (TTY: 877-766-8533) 8 a.m. to 6 p.m. CST.

How do I report bank misconduct in the US?

Examples of complaints include if you think a bank has been unfair or misleading, discriminated against you in lending, or violated a federal consumer protection law or regulation. To file a complaint, you can: File online. Call toll-free at 888-851-1920 (TTY: 877-766-8533) 8 a.m. to 6 p.m. CST.

Does filing a complaint with the FTC do anything?

The FTC's Bureau of Consumer Protection stops unfair, deceptive and fraudulent business practices by collecting reports from consumers and conducting investigations, suing companies and people that break the law, developing rules to maintain a fair marketplace, and educating consumers and businesses about their rights ...

Who holds banks accountable?

The Federal Reserve directly supervises state-chartered banks that choose to become members as well as foreign banking offices and Edge Act corporations. The Federal Reserve is also the primary supervisor and regulator of bank holding companies and financial holding companies.

Does filing a complaint with CFPB do anything?

Consistent with applicable law, we securely share complaints with other state and federal agencies to, among other things, facilitate: supervision activities, enforcement activities, and. monitor the market for consumer financial products and services.

Is there a banking ombudsman in the USA?

The CFPB Ombudsman's Office was established by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act), which created the CFPB.

Who regulates banks in the US?

The OCC charters, regulates, and supervises all national banks and federal savings associations as well as federal branches and agencies of foreign banks. The OCC is an independent bureau of the U.S. Department of the Treasury.

What are five federal laws that protect consumers?

Select federal consumer protection statutes, which apply nationwide, include the Federal Trade Commission Act (“FTC Act”), the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”), the Gramm-Leach-Bliley Act (“GLB Act”), the Truth in Lending Act (“TILA”), the Fair Credit Reporting Act (“FCRA”), ...

What are the 3 unfair business practices that concern the FTC the most?

What kind of complaints does the FTC handle?

The FTC enforces federal consumer protection laws that prevent fraud, deception and unfair business practices.

Does the FTC regulate banks?

The Federal Trade Commission enforces a variety of antitrust and consumer protection laws affecting virtually every area of commerce, with some exceptions concerning banks, insurance companies, non-profits, transportation and communications common carriers, air carriers, and some other entities.

What does OCC do against banks that do not comply with laws and regulations?

Take supervisory actions against national banks and federal thrifts that do not comply with laws and regulations or that otherwise engage in unsound practices. Remove officers and directors, negotiate agreements to change banking practices, and issue cease and desist orders as well as civil money penalties.

Can a bank be held responsible?

When a bank provides a substandard service, it can be held liable for damages in some cases. For example, if a third-party accesses your account and transfers your money out and the bank refuses to refund you for those assets, you may have a valid claim.

Who should you first contact with a consumer complaint?

Contact your state attorney general or state consumer protection office. These government agencies might mediate complaints, conduct investigations, and take other action against those who break consumer protection laws. Contact a national consumer organization.

What is a CFPB violation?

When a financial institution, individual, or other entity subject to the CFPB's authority breaks the law, the CFPB may take enforcement action against them. In certain cases, the CFPB may partner with other federal, state, or local agencies to investigate the wrongdoing and coordinate the enforcement action.

What authority does the CFPB have over banks?

The CFPB supervises a range of companies to assess their compliance with federal consumer financial laws. We have supervisory authority over banks, thrifts, and credit unions with assets over $10 billion, as well as their affiliates.

What does a federal ombudsman do?

The Office of the Ombudsman works independently as an intermediary to provide individuals with a confidential avenue to address complaints and resolve issues at the lowest possible level. The Office proposes policy and procedural changes when systemic issues are identified.

Can a bank deny you access to your money?

A bank account freeze means you can't take or transfer money out of the account. Bank accounts are typically frozen for suspected illegal activity, a creditor seeking payment, or by government request. A frozen account may also be a sign that you've been a victim of identity theft.

Can you sue a bank for not refunding your money?

You Have A Right To Sue Any Bank That Unlawfully Keeps Your Money, Or Who Fails to Follow Your Instructions For Disbursing It. Banks owe you a duty to only give out funds that you authorize, and to only give out funds in the manner that you instruct them.

Who supervises banks?

The Federal Reserve is responsible for supervising--monitoring, inspecting, and examining--certain financial institutions to ensure that they comply with rules and regulations, and that they operate in a safe and sound manner.

Who has the power to regulate banks?

The Federal Reserve shares supervisory and regulatory responsibility for domestic banks with the OCC and the FDIC at the federal level, and with individual state banking departments at the state level.

What laws regulate banks?

What are 3 federal laws that protect consumers?

"The Fair Housing Act." Federal Trade Commission. "Fair Debt Collection Practices Act."

What are the 3 federal agencies that provide protection to consumers?

What does the Consumer Protection Act do?

Suppliers could have misled consumers about the quality of their goods or services, or offered goods or services on unreasonable terms and conditions, leaving the consumer with little or no remedy if a problem occurred. The Consumer Protection Act (“CPA”) provides protection to these consumers against such suppliers.