Consumer Protection News:
OCC Consumer Tips for Avoiding Foreclosure Rescue Scams
This Consumer Advisory from the Office of the Comptroller of the Currency provides advice to help prevent borrowers from becoming victims of foreclosure rescue scams. It outlines what people should watch out for to avoid foreclosure rescue scams and provides a list of resources people can use to find qualified sources for help.
HelpWithMyBank.gov
HelpWithMyBank.gov provides answers and assistance to customers of national banks. The site includes answers to common questions and helps walk people through the process of contacting the OCC for additional assistance. Visit the site.
OCC Public Information Room
The OCC's public information room provides immediate access to public OCC documents and publications.
List of National Banks
Revised 7/31/2007
Consumer-Focused Bank Subsidiaries
These subsidiaries are companies that are owned or controlled by a national bank and that, among other things, offer banking products and services to consumers such as loans, mortgages and leases.
Rights, Laws, and Reference Materials
Access information regarding additional consumer information, laws and regulations, and reference materials.
Customer Assistance Brochure
Assistance for Customers of National Banks is a brochure that explains the function of the OCC's Customer Assistance Group and how to contact them.
The Servicemembers Civil Relief Act
This Act which replaced the Soldiers' and Sailors' Civil Relief Act in December 2003, is a federal law that gives all members of the military some important protections as they enter active duty and other protections while they are on active duty.
Interest-Only Payments and Payment-Option ARMS: Are They For You?
Owning a home is part of the American dream, but exotic mortgages carry risks that consumers should understand. This brochure helps explain Interest-Only and Payment-Option Adjustable Rate Mortgages.
"Check 21"
Under a federal law that went into effect on Oct. 28, 2004, instead of shipping paper checks from bank to bank to complete the check clearing process, banks can send digital images electronically.
Avoiding Cashier's Check Fraud
An OCC consumer advisory warns consumers to watch for fraudulent cashier's check schemes and recommends actions they can take to protect themselves.
Gift Cards:
An OCC consumer advisory provides important information that shoppers should have about the terms and conditions that apply to gift cards.
News Release 2004-108, OCC Offers Consumers Holiday Tips on Gift Cards
"Phishing"
In this new type of Internet piracy, thieves use phony e-mails and web sites to extract personal financial information, including account numbers and passwords, from unwary consumers. The good news is that consumers have the power to stop them. Read this brochure, prepared by the OCC and the federal bank, thrift and credit union regulatory agencies, to find out how.
Borrowing against the equity in your home
Borrowing from an unscrupulous lender, especially one that offers a high-cost loan using the home as security, could result in the loss of the borrower's home and their money. This brochure, Putting Your Home on the Loan Line is Risky Business, warns that regardless of whether a home equity loan is for a home repair, bill consolidation or some other purpose, it is important to shop around. The Comparison Shopping for a Home Equity Loan worksheet, can be used to help you shop for the best deal.
OCC Anti-Fraud Resources
OCC's new feature provides Consumers and Bankers with information and resources to effectively identify, report, and combat fraud.
Combating Abusive Lending
The OCC is pioneering a new approach to combating predatory lending that
effectively deals with abusive practices without impairing the flow of credit to
low-income and subprime borrowers.
Protecting yourself against Identity Theft
Today's online environment can be a safe place to conduct business if you know how to safeguard your identity and information against theft. Information from a variety of federal agencies can help you know the risks and protect yourself against Identity Theft.
Writing a Check: Understanding your Rights
Electronic processing of checks is changing the way banks handle these transactions. Learn how these changes can affect how you handle your money.
Protecting Yourself from Overdraft and Bounced-Check Fees
This brochure provides information and guidance to consumers to help them avoid overdrafts, and make informed decisions regarding the purchase of courtesy overdraft-protection or bounce coverage plans.
Unfair and Deceptive Practices
The OCC took the lead among the federal bank regulatory agencies in
addressing abusive marketing practices. In a landmark case in 2000, the OCC
required a bank to pay more than $300 million in restitution to consumers.
Credit Card Practices
The OCC has issued guidance to national banks on credit card practices that are
unacceptable because they may constitute unfair or deceptive acts or practices.
The OCC has also taken a number of formal enforcement actions against national
banks that have engaged in abusive practices and has required the payment of
millions of dollars in restitution to customers harmed by such practices.
Pay Day Lending
When payday lenders tried to "rent" a national bank charter as a means of
evading state and local consumer protection laws, the OCC took a series of
enforcement actions to halt that practice.
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