Federal Reserve Board

September 22, 2009

In the second half of 2011, a new agency called the Consumer Financial Protection Bureau will be created to respond to complaints about all financial products.

Until then, the Federal Reserve Board regulates your lender if it is state-chartered and a member of the Federal Reserve system. However, on its website, the Federal Reserve promises to “connect you with or forward your complaint to the appropriate federal regulator for the bank or institution involved in your complaint.”

Mortgage Lending – The Fed can also prohibit unfair or deceptive practices regarding mortgage lending, so file a complaint with them if you feel your mortgage is unfair or deceptive.

Other Bank Practices – The Fed also has authority to regulate any unfair or deceptive practice by any bank. You should complain to the Fed if your bank has issued you a refund anticipation loan, used unfair or deceptive credit card practices, charged exorbitant overdraft fees, or engaged in anything unfair or deceptive.

Our Suggestion

If you cannot figure out who regulates your lender, we suggest filing your complaint with the Office of the Comptroller of the Currency (OCC), The Federal Reserve Board (FRB), and your State Banking Office. Both the OCC and the FRB promise to reroute complaints mistakenly filed with them.

How To File a Complaint

Use the Fed’s online complaint form to file your complaint. Or, you can download and fill out this PDF complaint form. Send it to the address printed on the form, or see below.

You may also send them a letter explaining your complaint. If sending a letter, include the following information in your complaint:

Your name, address, and daytime telephone number
The complete legal name and address of the bank involved in your complaint
Your bank or credit card account number, if applicable
The names of the people you contacted at the bank, along with the dates
A description of the complaint. Tell us what happened, the dates involved, and the names of those you dealt with at the bank. The more information we have about the problem, the quicker we will be able to help resolve it. Include copies of letters or other documents that may help us investigate your complaint. Please send only copies of documents–do not send originals.

Be sure to sign and date your letter.