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Mar 1 2012

WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) began accepting consumer complaints about bank accounts, including checking accounts, savings accounts, CDs, and related services.

“Deposit accounts play a critical role in the lives of most Americans, but these products and the laws governing them are complicated,” said CFPB Director Richard Cordray. “Consumers need someone on their side to keep banks and credit unions accountable—that is our job.”

Almost nine out of ten American households have at least one checking account, and many also maintain a savings account. Yet, despite the fact that they are commonplace, bank accounts can be complex and confusing.