How to File a Federal Credit Complaint

Credit providers are subject to specific federal laws designed to protect you, the consumer. If you feel a bank, a credit card company or a private credit provider has treated you unfairly, there are steps you can take to rectify the situation.

Instructions

Difficulty: Moderate

1. Call the creditor first and keep a log of your conversation, the date and to whom you spoke. Fortunately, most credit providers realize that happy customers equal more business for them so they will try to solve the problem in a fair manner.
2. Submit a complaint about a bank in writing to the Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve, Washington, DC 20551. Be specific about your complaint. Within 15 days, you should receive a preliminary response, although it may take longer to process the actual complaint.
3. Send your written complaint by first class mail with “return receipt requested.” It costs a little more but the Post Office will issue a receipt to you with the date and time of delivery for your records.
4. Maintain a log of everything related to your complaint as it occurs. If you haven’t done so already, gather past statements or other documents related to your complaint. If your complaint concerns credit discrimination, write down all the conversations you’ve had, to the best of your recollection.
5. Contact the Federal Trade Commission (FTC) if you feel the creditor in question has treated you unfairly or in a deceptive manner. Call (877) FTC-HELP or file a complaint online (see Resources below).