Consumer Banks
Consumer banks can do a number of things for individual consumers, including: - Loaning you money
- Giving you a home mortgage
- Establishing a checking or savings account
Banks are heavily regulated by both federal and state law. When there is a conflict with your bank, these bank laws help protect you and your money.
Problem with My Bank
There are a number of ways to work out problems with your bank, whether your matter is merely an accounting error or a serious contractual dispute.
Contact Your Bank
First, try contacting your bank. Usually banks will try and work out problems with customers so that they can maintain good customer relations. But if this does not work, there are other options, below.
File a Complaint with the Federal Reserve
The Federal Reserve is the government institution that regulates banks. If you have a problem with your bank you can file a complaint with the Federal Reserve.
The Federal Reserve will then investigate the bank and your complaint. If the Federal Reserve believes there has been a violation of the law they will notify you of it and order the bank to rectify the problem.
The Federal Reserve's power is not limitless. They cannot handle complaints that involve contractual or factual disputes. These are usually resolved through litigation.
Sue Your Bank
If nothing else works you can take your bank to court. Suing a bank is not easy because banking laws are very complex. Moreover, a bank is likely to have a whole team of lawyers ready to defend them. Before you try and take on a bank in court you should probably consult a lawyer.
Do I Need an Attorney to Help Me Handle My Banking Problem?
The laws that govern banks are very complex and change frequently. Even if you understand banking law you will probably have a very hard time taking on your bank's team of lawyers, and navigating through the complex court processes. An attorney will know all about the ever-changing banking laws in your state and help protect your interests. Vea esta página en español: Bancaria del Consumidor o visita Abogados-Leyes.com para más información legal.
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