Can I file a complaint?

You can file a complaint if you think a bank has been unfair or misleading, discriminated against you in lending, or violated a law or regulation. The Federal Reserve investigates complaints related to federal consumer protection laws, such as the Equal Credit Opportunity Act, Fair Credit Reporting Act, and the Truth in Lending Act.

How do I file a complaint?

First, try to settle the problem directly with your bank or financial institution. If you cannot resolve the problem, contact the Federal Reserve for help.

To file a complaint, you can:

• Call the Federal Reserve toll-free at 888-851-1920 (TTY: 877-766-8533) 8 a.m. to 6 p.m. CST
• E-mail ConsumerHelp@FederalReserve.gov
• Send a fax to the Federal Reserve at 877-888-2520
• Write to:
  Federal Reserve Consumer Help
  PO Box 1200
  Minneapolis, MN 55480

In your complaint, be sure to include the following:

• Your name, address, and telephone number(s).
• The complete name and address of the bank involved in your complaint, if known.
• The names of those you dealt with at the bank, along with the dates.
• A description of the complaint. The more information about the problem, the faster the Federal Reserve can investigate and respond. Include copies of letters or other documents that may help them to investigate your complaint. Please send only copies of documents - do not send originals.

File your complaint online at http://www.federalreserveconsumerhelp.gov/consumercomplaint.cfm. To file your complaint via fax or mail, download and print the consumer complaint form at

http://www.federalreserveconsumerhelp.gov/ComplaintForm.pdf.

What will the Federal Reserve do?

The Federal Reserve will connect you with or forward your complaint to the appropriate federal regulator for the bank or institution involved in your complaint.

If your complaint is against a financial institution that the Federal Reserve supervises, it will be investigated by one of the 12 regional Federal Reserve Banks.

As the Reserve Bank investigates each issue raised in your complaint, it will:

• Ask the bank involved for information and records regarding your complaint.
• Determine if the bank's response addresses your concerns.
• Send you a letter about its findings.

The Reserve Bank may also contact you to request additional information necessary to complete its investigation.

The Reserve Bank will let you know if it finds an error or a violation of a federal law or regulation. Investigations typically take 30 to 60 days to complete. If more than 60 days have passed, the Reserve Bank will contact you to let you know the status of its investigation. Please note that it may take several months to investigate more complex complaints like those alleging illegal credit discrimination.

What won't the Federal Reserve do?

Although the Federal Reserve looks into every complaint that involves the banks we regulate, they do not have the authority to resolve every type of problem. For example:

• They are unable to resolve contract disputes or undocumented factual disputes between a customer and a bank. In these cases, they suggest that you contact an attorney.
• They cannot investigate matters that are the subject of a pending lawsuit.
• They are unable to resolve complaints about customer service or disagreements over specific bank policies and procedures not addressed by federal law or regulation.

Source of this article:  Federal Reserve website at http://www.federalreserveconsumerhelp.gov/