Bank of America Informative - Where To File A Complaint Against Bank of America
Since my less than enjoyable experiences with Bank of America began, I have reviewed scores of complaints about their practices ranging from credit card interest rates to holds on deposits including cashiers checks. Today, after having to call them for the 7th time in 10 days to resolve an issue that is still not resolved I wondered myself "Who regulates Bank of America?" and "Who would a consumer complain to about their service (or lack thereof in this case)?". So I looked it up. This is the information I found for anyone interested:
First off, it is said that every bank has a regulatory agency for handling consumer complaints within itself - It's own complaint processing department in otherwords. I wasn't able to find a link of any kind for such a department within Bank of America. By reading other complaints from unhappy Bank of America users, I came to the conclusion no one else has either, although I did come across this site:
Four federal agencies conduct CRA examinations and enforce CRA regulations. They are the Office of the Comptroller of the Currency, Federal Reserve Board of Governors, Federal Deposit Insurance Corp. and Office of Thrift Supervision.
The Office of the Comptroller of the Currency examines nationally chartered banks. These are typically the country's largest banks, such as Bank of America and Wells Fargo. Their names are usually followed by "N. A." or "N. T. & S. A." to signify a national charter.
In contrast, both the Federal Reserve System and the Federal Deposit Insurance Corp. examine state-chartered banks; their names usually include the word "State." These lenders receive their articles of incorporation from a state banking agency, as opposed to nationally chartered lenders, which have federal articles of incorporation.
The Office of Thrift Supervision examines savings banks and loan associations. Thrifts often have the word "Federal" and the initials "FSB" or "FA" in their names.
You can follow this link for an index of questions and contact information:
This is the link to the Office of the Comptroller of Currency (which regulates national banks like Bank of America as stated above):
Hopefully this information will help people with grievances against their banks. Make your voice heard!!!!
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