Federal Reserve Recommends Consumers Contact an Attorney to Resolve Contract Disputes With Banks

Thursday, August 6th, 2009 Bank Wrongs by DaveVW

“The Federal Reserve, on its Website, says that although it does regulate banks, and will look into every complaint it receives from consumers regarding the banks it regulates, it does not have the authority to resolve every type of problem.

Disputes over contracts, undocumented factual disputes between a consumer and a bank, matters that are the subject of a pending law suit, complaints about customer service, or disagreements over a specific bank policy or procedure not addressed by federal law or regulation… as examples, are all outside the Fed’s authority as far as obtaining a resolution is concerned.

In those instances, where the Fed’s authority does not allow it to resolve matters, the Federal Reserve recommends that consumers contact an attorney.”
Read more:  http://mandelman.ml-implode.com/2009/08/federal-reserve-recommends-consumers-contact-an-attorney-to-resolve-contract-disputes-with-banks/