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For the most part, we rely on banks to handle our money and everyday transactions. However, as we've witnessed lately, banks don’t always fulfill their obligations to protect our financial well-being. If you're facing an unresolved issue with your bank, here's what you can do.
As Bankrate advises, if you have a problem with your bank, the first step is to try to settle it directly with the institution. But sometimes, banks aren't that helpful. Here's where you can turn if they won't cooperate.
The Consumer Financial Protection Bureau (CFPB): The CFPB accepts complaints about banks and credit unions online at help.consumerfinance.gov.
The Federal Deposit Insurance Corporation (FDIC): According to Bankrate, the FDIC supervises “more than half of the institutions in the banking system.” They offer an online consumer assistance form for filing complaints against FDIC-regulated institutions.
The Federal Reserve: You can submit complaints to the Federal Reserve at FederalReserveConsumerHelp.com. Alternatively, you can reach their consumer line at (888) 851-1920 or fax (877) 888-2520.
It’s always best to try to resolve the issue with your bank first, but these resources are helpful if you're not getting anywhere. For more details, Bankrate provides further guidance through the link below.
Photo courtesy of jon collier.
