Bank and Credit Product Complaints
To report problems with your bank, financial institution, lender, or broker:
- Contact the branch manager, the customer service hotline, or the institution's website.
- Use this sample complaint letter to explain your problem and how you want the bank to fix it.
- Provide copies of receipts, checks, or other proof of the transaction.
File a Complaint With the Consumer Financial Protection Bureau
If contacting your bank directly does not help, you can complain to the Consumer Financial Protection Bureau (CFPB) about:
- Checking and savings accounts
- Credit cards
- Credit repair services
- Credit reports and personal consumer reports
- Debt collection
- Debt settlement
- Money transfers and money services
- Mortgages
- Payday loans
- Personal loans like installment or title loans
- Prepaid cards
- Student loans
- Vehicle loans and leases
File a Complaint About Securities
Complain about investments with the Securities and Exchange Commission or your state's securities regulator.
Complaints About Mortgage Companies
If you have a complaint against a mortgage company, try to resolve it with the company first. Several government agencies accept complaints about mortgage lenders. In some cases, you should file your complaint with more than one agency, especially at the federal and state level.
Report a Mortgage Company for Discrimination
The Consumer Financial Protection Bureau (CFPB) enforces the Equal Credit Opportunity Act. This law prohibits lenders from denying credit because of certain characteristics. File a complaint with the CFPB if a lender has denied a mortgage application because of your:
- Age
- Sex (including gender)
- Marital status
- Children
- Race
- Nationality or ethnicity
- Religion
- Income from public assistance programs
The Department of Housing and Urban Development (HUD) enforces the Fair Housing Act. This law prohibits discrimination when you rent, buy, or secure financing for a home. Your state may also have a similar law. File a complaint with HUD and the fair housing office in your state if a mortgage company discriminated against you because of your:
- Race
- Color
- National origin
- Religion
- Sex
- Disability
- Presence of children
File a Complaint About Mortgage Company Services
The CFPB enforces several laws, such as the Truth in Lending Act and the Real Estate Settlement Procedures Act. These laws require lenders to disclose information to homebuyers before buying and over the life of the mortgage. File a complaint with the CFPB if you have a problem with a new or existing mortgage. Examples of common mortgage complaints include:
- Applying for a mortgage
- Receiving loan estimates and closing documents
- Transferring a mortgage to another servicer
- Applying your payments correctly
- Refinancing or modifying a mortgage loan
- Misreporting mortgage account status to you or credit reporting agencies
- Requiring private mortgage insurance
- Paying additional fees
Report Deceptive Mortgage Practices and Scams
The Federal Trade Commission Act is the primary statute of the Federal Trade Commission (FTC). It states that unfair and deceptive practices affecting commerce are unlawful. Report a mortgage company to the FTC if it makes deceptive statements, omits important facts, or takes misleading actions. Examples include:
False statements about their ability to offer a loan
Fees for services the mortgage company didn’t provide
Illegal tactics to collect on mortgage balances
Also, file a complaint with your state consumer protection office about a mortgage fraud or scam. Call the HOPE Hotline at 1-888-995-HOPE (1-888-995-4673).
