If you have a complaint about a bank or other financial institution, the Federal Reserve System might be able to help you. The Federal Reserve is responsible for carrying out many of the federal laws that protect consumers in their dealings with financial institutions. The Board of Governors, located in Washington, D.C., works with the twelve Federal Reserve Banks around the country to make certain the commercial banks that the Federal Reserve supervises abide by these laws. The Federal Reserve can help individual consumers by:

• Answering questions about banking practices, and
• Investigating complaints about specific banks under the Reserve's supervisory jurisdiction. Complaints about financial institutions that are not supervised by the Federal Reserve System are referred to the appropriate federal agency.

What Kinds of Complaints are Investigated?

As a federal regulatory agency, the Federal Reserve System investigates consumer complaints received against state chartered banks that are members of the System. If you think a bank has been unfair or deceptive in its dealings with you, or has violated a law or regulation, as a consumer you have the right to file a complaint.

The Federal Reserve is particularly concerned that state member banks comply with federal laws and regulations that prohibit discrimination in lending. In such cases, additional steps are taken to ensure that your complaint is promptly and thoroughly investigated. In addition, complaints alleging discrimination in housing that are covered by the Fair Housing Act are referred to the U.S. Department of Housing and Urban Development.

How to File a Complaint

Before writing or calling the Federal Reserve, consumers are encouraged to try to settle the problem with the financial institution first. This may involve directly contacting senior bank management or the bank's customer service representative for assistance. If you are still unable to resolve the problem, you may file a written complaint with the Federal Reserve including the following information: