Below is a list of the major credit cards, the banks that issue the cards and the relevant regulatory authority that you can contact regarding your inquiry or complaint. If you can find the name of the credit card you have an inquiry or complaint about, please follow the link to that credit card`s primary regulator for assistance. Previously, no single regulator dealt with consumer complaints about credit cards. According to the bank`s statutes, consumers had to go to one of five different branches. However, the new CFPB system is still in test mode and only collects complaints about credit cards. The system will not be fully operational for a few months. Meanwhile, consumers with complaints about other types of financial products — such as debit cards, checking accounts, or collection agencies — should contact traditional federal agencies for help with these products. The Department of Financial Protection and Innovation (DFPI) encourages financial services consumers to file complaints if they believe that a licensee or DFPI registrant has violated state laws or acted inappropriately, or if they believe that a company or individual is engaged in unauthorized or unregistered activities that fall within the jurisdiction of the DFPI. When you come to us, you don`t just help yourself. Your complaints play a role in everything we do, helping us identify issues and prioritize our work. Who do you contact if you have a complaint about your bank or credit card issuer and are not ready to solve the problem? The new consumer protection agency will help you soon, but here you can ask for help now. Curious about how the complaint process works? Follow the steps in your complaint to get a response to your issue. In July 2011, the federal Consumer Financial Protection Bureau (CFPB) began receiving consumer complaints about credit cards.
Since then, it has expanded to include collecting complaints about mortgages, bank accounts, student loans, consumer loans, credit reports, money transfers, and debt collection. If you have a complaint about one of these financial services, here`s how to determine if your application is worth filing with the CFPB and how to do so. Use the sample USA.gov complaint letter to explain your problem. When a member could do nothing about his financial problem, Captain Jamison would help him file a complaint. If you have determined that a complaint to the CFPB is necessary, this is easy. Once you visit the CFPB website, the first step is to select a category for your complaint: bank account or service, credit card, credit report, collection, money transfer, mortgage, student loan, or car or consumer loan. Have you tried contacting the company? Companies can usually answer questions that are unique to your situation and more specifically tailored to the products and services they offer. Federal Trade Commission Division of Credit Practices (opens in a new tab). This body does not solve individual problems, but enters complaints into a database used by civil and criminal law enforcement agencies. Complaints may be investigated and prosecuted. If the circumstances of your complaint make it advisable to consult an attorney, the California Courts Free & Low-Cost Legal Help website provides information you may find useful. The exact steps to file your complaint depend on the service you are complaining about.
For example, if your complaint is about a credit card, on the first page you will be asked to submit a brief description of the problem and select the category to which your complaint relates from the drop-down list. It is optional to submit certain details, including the amount of money you lost, the date of your loss and whether you have taken any steps to resolve the issue, such as: contacting the Company directly or filing a legal claim. On page two, write a short paragraph describing what you think is a fair solution to the problem. On page three, you must include your full name, mailing address and email address. Page four asks for the name on your account, your credit card number, and the name of the company you`re complaining about. It also gives you the option to attach all documents supporting your complaint, such as proof of payment. On page five, review your information, confirm that it is accurate, and finally file your complaint. If you are harassed or discriminated against by a credit card company, bank or other lending company, you can file a complaint with the Consumer Financial Protection Bureau. To file a complaint with the government about a financial services company (credit card company, bank, lender, finance company), visit the Consumer Financial Protection Bureau`s complaints page.
You must give the Company the opportunity to deal with your complaint. Reaching a solution often involves contacting the right person. If your first email or call doesn`t work out, several additional phone calls asking you to speak to a manager can eventually put you in touch with someone who has the authority and competence to resolve your complaint. You must always submit your complaint to the DFPI, whether or not you are attempting to resolve your dispute through another forum or procedure. DFPI relies on your complaints to protect and redress consumers, borrowers and investors when they fall victim to illegal, unfair or fraudulent business practices. Federal Reserve (opens in a new tab). You can file a complaint with the Federal Reserve if you believe your bank has been unfair, misleading, discriminates against you, or violated a consumer protection law. If the bank is a bank supervised by the Federal Reserve, one of the Federal Reserve`s 12 regional banks will investigate. Otherwise, the Federal Reserve will refer your complaint to the appropriate federal agency. The monthly complaint report is available at: www.consumerfinance.gov/data-research/research-reports/monthly-complaint-report-vol-13/ “Credit cards are an important tool in the daily financial lives of many consumers,” said Richard Cordray, Director of the CFPB. “It is important that credit card companies directly and clearly describe the costs and fees associated with their products so that consumers have the information they need to make informed financial decisions.” Office of the Auditor of the Currency of the Ministry of Finance (opens in a new window). This agency regulates credit cards issued by national banks (such as Chase and Bank of America).
You can download a complaint form (opens in a new tab) from the Office of the Comptroller`s website. See related: Your Consumer Financial Protection Bureau: What can it do, do you have a credit card complaint? Let us know if you file a complaint, Complete Guide to Credit Card Law We help consumers connect with financial companies to understand problems, resolve them and get direct answers to problems. When you file a complaint, we strive to get you a response – most companies respond to complaints within 15 days. As of July 21, 2011, the Consumer Financial Protection Bureau (CFPB) has offered credit cardholders a one-stop shop to resolve complaints they may have with a credit card issuer. If you made the purchase with your credit card, you dispute the charge with your credit card company. The Dodd-Frank Wall Street Reform and Consumer Protection Act, which created the CFPB, established the handling of consumer complaints as an integral part of the CFPB`s work. The CFPB began accepting complaints as soon as it opened in July 2011. It currently accepts complaints about many consumer-facing financial products, including credit cards, mortgages, banking accounts and services, personal student loans, auto and other consumer loans, credit reports, money transfers, debt collection and payday loans.
To complain about collection practices, credit reporting agencies, credit repair companies, or debt settlement services, the Federal Trade Commission (FTC) accepts consumer complaints online and through its toll-free number: (800) FTC-HELP. The CFPB explains that its purpose in collecting and managing consumer complaints about financial services is to learn more about “business practices that may pose risks to consumers.” In addition, the agency states, “Complaints help us in our work of monitoring businesses, enforcing federal consumer finance laws, and drafting better rules and regulations.” Better Business Bureau (BBB) (opens in a new tab).