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Who do you report bad banking practices to?

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TNDemo Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-11-06 10:34 AM
Original message
Who do you report bad banking practices to?
I know there must be some banking regulatory commission that does the equivalent of the Better Business Bureau. I got ticked at AmSouth six years ago because they put my deposit in someone else's account, which caused my check to the credit card company to bounce and I ended up with $85 in charges from the CC company that were never refunded. I decided to close my accounts there. I got that one closed but had a checking account at AmSouth that I had not used in several months but the account terms were no charges if everything was handled through an ATM, which it was. They apparently changed the terms and charged my account, sent it into overdraft, transferred $100 into it and started billing for that loan. It took awhile but I got that closed and the charge refunded and somehow or other I ended up with about 25 cents in the checking account. I wrote and called and could not get them to close the account. I sent a certified letter asking them to close it and to respond in writing and they did not. Two months later I sent another certified letter and they refused to close it. Since then I have received a statement every month for that quarter in the account (postage is more than the balance). I have saved all these statements for six years (they even found our new address when we moved and kept sending the statement). I just now got one and they have placed a charge and I am now 89 cents overdrawn and if I don't deposit it immediately they are going to report it to the credit bureau, etc.

I have been considering boxing up all these statements with copies of my certified letters and sending it to the president of the bank. I also would like to report all this to someone. What the heck does it take to close an account?? What would you do? Or say in a letter?
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BOSSHOG Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-11-06 10:37 AM
Response to Original message
1. I would suggest
you contact your State's Attorney General. You pay his salary, he works for you and his job is to fix such problems that you discuss.
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no_hypocrisy Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-11-06 10:37 AM
Response to Original message
2. Look in the directory for the Treasury Dept of your State,
specifically a banking and/or insurance division. It should be located in the capitol of your state. Ask for consumer affairs or describe your problem to the operator (general information) and they'll direct your call. You are legally entitled to lodge a formal complaint.
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qanda Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-11-06 10:37 AM
Response to Original message
3. I have no answers, but that sounds like a nightmare
I hope you get it all resolved soon.
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napi21 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-11-06 10:39 AM
Response to Original message
4. The Comptroller of the Currency is the ultimate regulator of banks.
It depends on what the problem is. You may want to begin at a slightly lower level. The other thing you want to check is, is it a State Bank or Federal.
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ayeshahaqqiqa Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-11-06 10:40 AM
Response to Original message
5. On the advise of my attorney
I told a bank I was going to the State Banking Commission because of an illegal practice they had done. I got immediate satisfaction. I would suggest you find if your state has a Banking Commission. If it doesn't, report it to your AG.
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slackmaster Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-11-06 10:41 AM
Response to Original message
6. If you can't resolve it with your bank's management, try one of these
Depending on what kind of charter your institution has, one of the agencies on the list at this link will be the appropriate place to complain.

http://federalreserve.gov/pubs/agencies/default.htm

It should be pretty easy to close an account if you go to a branch in person. Start with a teller and work your way up the food chain until you get satisfaction.
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napi21 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-11-06 10:46 AM
Response to Original message
7. Go to this link for the consumer complaind div. of the OCC.
http://www.occ.treas.gov/customer.htm

The OCC's Customer Assistance Group is ready to help customers of national banks with questions or complaints they have about their financial institution. CAG's toll-free lines are open Monday through Thursday, 9 a.m. to 4 p.m., Central Time, and on Friday, from 9 a.m. to 3 p.m., Central Time. You can reach one of OCC's Customer Assistance Specialists by calling: 1-800-613-6743.
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TNDemo Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-11-06 10:53 AM
Response to Original message
8. One thing I forgot to add is that while I am in TN, the
headquarters for this bank is in Alabama. Will that make a difference? BTW, thanks for the links so far.
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slackmaster Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-11-06 10:58 AM
Response to Reply #8
9. See the government agency page I linked to in reply #6
That will answer some of your questions.
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lonestarnot Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-11-06 11:07 AM
Response to Original message
10. State banking commission?
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LiberalEsto Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-11-06 11:24 AM
Response to Original message
11. The next Democratic administration,
Edited on Tue Jul-11-06 11:24 AM by LiberalEsto
if we get so lucky.

Consumer protection has been nearly eradicated since 2000.
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Norquist Nemesis Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-11-06 11:27 AM
Response to Original message
12. Tenn Dept of Financial Institutions --- Here you go!
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JesterCS Donating Member (627 posts) Send PM | Profile | Ignore Tue Jul-11-06 11:29 AM
Response to Original message
13. thought you were going to say Chase(Bank 1)
They are terrible since chase took over ><
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onethatcares Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-11-06 12:06 PM
Response to Original message
14. similar problem, what do you do?
I pay my credit card bill online each month, the payments, as long as received by 3 pm of the due date are posted on that date. Well, yesterday the creditcard companys' website was down from 230 to 330 pm., so no payments were accepted during that time. It took about 5 calls to their customer non service number to get a live person (hint, I pressed the number for a new balance transfer, then got the voice on the other line to transfer me into customer service hell, but that's a different story altogether.) Now, anyone paying their bill at that time just got hit with a late charge and probably a new entirely different rate for their next bill. The girl I talked to could not speak english and I'm not sure if she understood what I was telling her. I guess this is part of the new credit company service plan.
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TNDemo Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-11-06 02:13 PM
Response to Reply #14
15. I had a problem with Fleet Mortgage some years ago,
before you could pay on-line. I would mail my payment (due on the 1st, late on the 15th) and it did not matter how far in advance of the 15th I mailed it, it was credited on the 16th. If I complained they would say they can't account for the US mail. I told them it did not take two weeks for my letters to get anywhere else in this country. This made them a lot of extra money in charges. The last year or so we had them I sent the payment certified. One time they still tried to attach a late charge when I had their signature they had received it on time and still had a doozy of a time getting the charge reversed.
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