Bank, credit, and securities complaints | USAGov (2024)

FAQs

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.

Which Bank Has the Most Complaints? In terms of sheer numbers, Bank of America tops the list with 128,404, which is the most complaints issued overall.

File banking and credit complaints with the Consumer Financial Protection Bureau. If contacting your bank directly does not help, visit the Consumer Financial Protection Bureau (CFPB) complaint page to: See which specific banking and credit services and products you can complain about through the CFPB.

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.

We have supervisory authority over banks, thrifts, and credit unions with assets over $10 billion, as well as their affiliates.

However, it has 45 days to investigate if you dispute after receiving your free annual credit report. Also, if you submit additional information relevant to your dispute during the 30-day investigation period, it can extend the investigation period for 15 additional days.

Attorney General Paxton joined a multistate investigation into Bank of America Corporation, Wells Fargo & Company, Morgan Stanley & Co. LLC, JPMorgan Chase & Co., The Goldman Sachs Group, Inc., and Citigroup Inc.

JPMorgan Chase, the financial institution that owns Chase Bank, topped our experts' list because it's designated as the world's most systemically important bank on the 2023 G-SIB list. This designation means it has the highest loss absorbency requirements of any bank, providing more protection against financial crisis.

Yes. Your bank may hold the funds according to its funds availability policy. Or it may have placed an exception hold on the deposit. If the bank has placed a hold on the deposit, the bank generally should provide you with written notice of the hold.

Can you sue a bank for not returning 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.

To be clear, a bank won't withdraw funds without your permission for any other purpose than to cover outstanding debts.

DFPI Licenses and Regulates | The Department of Financial Protection and Innovation.

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.

The CFPB has regulatory authority over providers of many types of financial products and services, including credit cards, banking accounts, loan servicing, credit reporting and consumer debt collection. A person shops in the beef section of a supermarket on February 13, 2023 in Los Angeles, California.

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.

Over the past few years, the CFPB has continued to deliver tangible results for the public, ensuring that consumers are protected, while preparing for the future as tech giants and artificial intelligence reshape the industry.

If you're a current or former employee of a company that you think has violated federal consumer financial laws, or if you're an industry insider who knows about such a company, submit a tip to our Office of Enforcement.