The Federal Reserve Board
Consumer Complaints
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. In addition, complaints alleging discrimination
in housing that are covered by the Fair Housing Act are referred
to the U.S.
Department of Housing and Urban Development.
How to File a Complaint
Before writing or calling the Federal Reserve, you
are encouraged 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 or credit card account 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.
Please do not send original documents, copies are preferred;
and remember to sign and date your letter.
It is important to provide as much information about the problem
as possible, which 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: (202)
452-3693.
What Will the Federal Reserve Do?
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, you will
be contacted 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.
For further information, visit the
Federal Reserve Board's website.
The information provided in this website is
not legal advice and should not be interpreted as legal advice.
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information in summary form. This information may not be comprehensive,
is subject to change, and may not apply to all individual circumstances.
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