Guide to Filing a Complaint Against a Financial Institution

The following information was prepared by the State of Michigan Office of Financial and Insurance Services.

When You Have a Dispute With a Financial Institution

If you are in a dispute with a financial institution regulated by the Office of Financial and Insurance Services (OFIS), we may be able to help.

This brochure offers ways to resolve your dispute. It also outlines the complaint process. If you cannot reach an agreeable settlement, you can use the complaint form to request help from OFIS.

Who Does OFIS Regulate?

We regulate state-chartered banks, savings banks and credit unions. We also license and supervise the activities of:

• Small loan companies
• Auto dealers that finance cars
• Auto sales finance companies
• First and second mortgage companies
• Sellers of money orders and travelers checks
• Non-retailer credit card issuers
• BIDCOs (Business and Industrial Development Corporations)

Our authority is limited to the companies we regulate. We cannot help resolve disputes with companies we do not license.

How Can I Tell if a Bank or Credit Union is State-Chartered?

If a bank has the words “state bank” in their name, it is almost always a state chartered bank.

Banks with these words or initials in their name are not regulated by OFIS:

• Federal Savings Bank or F.S.B.
• National or N.A.
• Federal (credit unions)

You can ask a bank or credit union which charter they operate under. You can also check with OFIS by calling 1-877-999-6442 toll-free.

Contact the Financial Institution Directly

If you disagree with a company, contact the company first.

Present your complaint to a management representative who has the authority to address and resolve your problem. This may be a consumer complaint specialist, a manager, an officer or owner of the company.

Explain the problem in a calm, courteous manner. Be accurate and complete. Present facts, not feelings. Provide dates, amounts, and related facts that support your position. Explain what you feel the company should do to settle the dispute fairly. Determine if you can be flexible. It may be in your interest to negotiate a resolution.

How OFIS Can Help

If you are still not satisfied after contacting the company, you can contact OFIS to ask questions or file a written complaint. We will try to resolve the complaint and see that your questions are answered. Your complaint is based on the information you submit. Be sure to include all pertinent facts. This may include copies of documents such as:

• Account statements
• Cancelled checks
• Correspondence
• Loan documents

Always send copies. Never send originals.

We Become a Link Between You and the Financial Institution

When we receive your complaint, we open a file and assign a file number.

We will send you a notice with the file number we assigned to your case. Please provide this number if you contact our office about your complaint.

OFIS will contact the parties named in the complaint.

We will ask them to review the matter and provide a written response. We will review the response to determine if it:

• Complies with Michigan law and rules or directives of the Commissioner.
• Addresses the issues in your complaint, and is reasonable in light of approved and accepted business practice.

When our review is complete, we will provide you with a written statement of our position.

You may disagree with the results of our review. If you have information that was not included with your original complaint, and feel it might alter the decision, you may submit it to us for further review.

Be sure to include your file number.

In some cases, a legal action may be your only recourse to resolve a matter. We do not have the authority to act as a court of law or as a lawyer. We cannot give legal advice. We do not become actively involved in complaints that are in litigation.

Please remember that OFIS can only resolve disputes based on the information provided and our authority under Michigan law. If a company is found to be in violation of a law, OFIS will take the appropriate action within our scope of authority under the law.

We try to Resolve Disputes as Quickly as Possible

We may need to contact you and the company multiple times, depending on the case. While we try to give prompt, quality service, a resolution may not occur immediately.

Thank you for your patience during the complaint process.

If your complaint involves:

• A national bank, contact Comptroller of the Currency (Houston, TX) (800) 613-6743 www.occ.treas.gov
• A federal credit union, contact National Credit Union Administration, Regional Office (Lisle, IL) (630) 955-4100  www.ncua.gov
• A federal savings bank, contact Office of Thrift Supervision (Atlanta, GA) (404) 888-0771 www.ots.treas.gov
• An insurance company, contact Office of Financial and Insurance Services (Lansing, MI ) Toll-Free at (877) 999-6442 www.michigan.gov/ofis
• A collection agency, contact Office of Commercial Services (Okemos, MI ) (517) 241-9234 www.michigan.gov/cis
• A department store or other retailer (credit cards), contact Michigan Department of Attorney General, Consumer Protection Division (Lansing, MI ) (517) 373-1140 www.michigan.gov/ag
• An auto dealer (other than financing) contact Michigan Bureau of Automotive Regulation, Complaint Section (Lansing, MI) (800) 292-4204 www.michigan.gov/sos
• A credit reporting agency, contact Federal Trade Commission (Cleveland, OH) (216) 263-3410 www.ftc.gov

See the web page for the Michigan Office of Financial and Insurance Services www.michigan.gov/ofis for free links to helpful consumer information about loans, deposits, and other financial services as well as state and federal consumer credit protection laws.

Prepared by the Office of Financial and Insurance Services, Michigan Department of Labor and Economic Growth