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What is the Role of
Consumer Affairs?
Our statutory mandate is to promote and enforce compliance by FDIC supervised banks with federal consumer protection laws, including those relating to fair lending and unfair and deceptive practices. We carry out our mission by:
- Investigating consumer complaints involving the banks we supervise.
- Responding to inquiries from the public and from financial institutions about consumer protection and fair lending matters.
- Educating consumers about their rights under federal consumer protection laws and regulations through outreach.
- Monitoring the public's perception of banking and consumer protection matters, and identifying trends that may affect consumer rights and protections.
- Participating in the formulation of consumer related regulations, policies, and procedures.
If we determine, based on our review of an issue, that contacting an individual's bank is not required, one can expect a final response in approximately 15 days or less. If, however, a complaint necessitates contacting a bank to gather information about a complicated matter, or a matter involving illegal credit discrimination, a final response may take longer.
Is the Role of the Consumer Affairs Branch Limited in Any Way?
Our scope of authority does not ordinarily extend to the resolution of complaints involving factual disputes or contractual matters, or matters that have been or are in the process of being litigated.
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