Skip to main content

Consumer Financial Protection Bureau (CFPB) Director Richard Cordray answers questions at the Reuters Washington Summit in Washington, October 23, 2013.   REUTERS/Jonathan Ernst    (UNITED STATES - Tags: POLITICS BUSINESS) - RTX14LOA
Consumer Financial Protection Bureau Director Richard Cordray
If the Consumer Financial Protection Bureau has done nothing else, it has demonstrated just how loathsome the too-big-to-fail banks are to Americans. (And it has done much else—just this year it has fined Bank of America $727 million for illegal credit card practices, fined mortgage companies for deceptive practices, and dinged a payday lender for $10 million.) America's big banks, mortgage services, student loan servicing companies, and debt collectors are really not popular among the public, judging by the number of complaints the CFPB has received about them, as documented by Mother Jones.
In June 2012, the CFPB launched a consumer help center where Americans can lodge complaints against banks and financial institutions they believe are ripping them off. The information in the center's data base is public. So you can tell which Wall Street entities provoke the most gripes. Ranked by number of complaints, the top five most reviled institutions are Bank of America, Wells Fargo, Equifax, which is a credit-reporting agency, JPMorgan Chase, and Citibank. Debt collectors, mortgage servicers, and student loan servicing companies also fall within the top 20. As of this weekend, consumers had filed over 265,000 complaints. Bank of America earned 38,833 complaints, Wells Fargo drew 26,055, and JPMorgan Chase was the subject of 20,057.
Graph showing numbers of complaints registered with the CFPB against big banks
Bank of America is slammed in the majority of complaints—more than 27,500 of them—are about the banks mortgage practices and foreclosures. Wells Fargo has serious problems with basic banking—checking and savings accounts and the charges and fees that they levy, as does JPMorgan Chase. Citibank, like B of A, is mired in complaints about mortgages and foreclosures. Tellingly, the CFPB and/or the Department of Justice have taken some kind of action against each one of these banks, resulting in cumulative fines reaching into the billions.

No wonder Wall Street and the Republicans are so committed to trying to kill the agency.

Originally posted to Joan McCarter on Wed Jul 30, 2014 at 01:20 PM PDT.

Also republished by Daily Kos.

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

  •  I don't hate my bank, (13+ / 0-)

    but I am in my ninth year at a small local bank.

    Strength and dignity are her clothing, she rejoices at the days to come; She opens her mouth with wisdom, and the law of kindness is on her tongue.

    by loggersbrat on Wed Jul 30, 2014 at 01:33:50 PM PDT

  •  Credit unions around here (4+ / 0-)

    act like belligerent big banks.

    I'm ready to go back to Chase, which didn't make me deal with so much nonsense and has a massive network of ATMs .

    © grover


    So if you get hit by a bus tonight, would you be satisfied with how you spent today, your last day on earth? Live like tomorrow is never guaranteed, because it's not. -- Me.

    by grover on Wed Jul 30, 2014 at 01:42:56 PM PDT

    •  Yeah, some people here have fallen (8+ / 0-)

      for the meme that credit unions are superior in service to banks. But they're just like banks - some are good and some are just terrible. Since credit unions are sleepy institutions, they have little ability to invest in the technology that real banks have that can make life easier for their customers.

      •  Credit unions... (13+ / 0-)

        Are part of the Co-Op network, which include ATMs at 7-11s.  There is an app for it.

        “Socialism never took root in America because the poor see themselves not as an exploited proletariat but as temporarily embarrassed millionaires.” - John Steinbeck (Disputed)

        by RichM on Wed Jul 30, 2014 at 02:28:24 PM PDT

        [ Parent ]

        •  There are several networks; (2+ / 0-)
          Recommended by:
          RichM, Had Enough Right Wing BS

          If you use the wrong network , there are fees.

          I was a very happy credit union customer in another state. And I know there are great credit unions all around the country. I just happen to live where the choices are:

          1. Too big and arrogant

          2. They lied to me  (seriously, dude lied to me about the effects of applying for credit when applying for an unrelated mortgage because he was determined to get me to open an account)

          3. Nearest branch to my house is 12 miles away.

          So credit unions work for many people, but not everyone.

          © grover


          So if you get hit by a bus tonight, would you be satisfied with how you spent today, your last day on earth? Live like tomorrow is never guaranteed, because it's not. -- Me.

          by grover on Wed Jul 30, 2014 at 03:04:51 PM PDT

          [ Parent ]

          •  Have you looked into a credit union out of state? (0+ / 0-)

            Mine has no branches in my state but plenty of ATM's near me (they're in CVS stores) and I can deposit checks with my phone and mail the physical checks to them. Also I get paid .65% on all funds kept in my checking account for at least 30 days.

            Is fheàrr fheuchainn na bhith san dùil

            by bull8807 on Fri Aug 01, 2014 at 04:04:47 PM PDT

            [ Parent ]

        •  Yep... My CU has a huge network of ATMs... (3+ / 0-)

          Both via the Co-Op network, and an agreement for fee-free use of Bank of the West's ATMs. I have zero complain with my CU.

      •  Depends entirely on the CU (9+ / 0-)

        I'm with one that has had online banking for over 16 years. (Yes. Over sixteen years.) They've handled two cars and a mortgage for me, as well as all of my daily sundry banking. Of course, they serve tech industry folks, so they'r eexpected to get the tech right.

        When my mom was on hospice and I deposited a large check for her care into one account, then accidentally wrote, oh, a few thousand dollars worth of checks on another account, someone caught it. They couldn't reach me for several days, but they put some flag on the account, paid everything that came through, and waived all charges.

        Cost to me at my CU? $0. Cost to me if I'd have been at BofA? Easily hundreds of dollars -  bounced check fees, as well as the fees from the place to which I'd written checks. They more than earned my loyalty. No bank would've done that.

        I have a second account at a different, very small CU. Quite sleepy - but still human, and with their members' best interest in mind. That just won't be the case with most banks.

        "I like to go into Marshall Field's in Chicago just to see all the things there are in the world that I do not want." M. Madeleva, C.S.C.

        by paxpdx on Wed Jul 30, 2014 at 03:57:10 PM PDT

        [ Parent ]

      •  Yeah, like automated phone-hell and extra fees to (1+ / 0-)
        Recommended by:
        KateCrashes

        pay the board and all those shareholders...

        "If you're in a coalition and you're comfortable, you know it's not a broad enough coalition /= GTFO" Dr. Bernice Johnson Reagon + JVolvo

        by JVolvo on Wed Jul 30, 2014 at 04:00:55 PM PDT

        [ Parent ]

    •  Same here (11+ / 0-)

      When the credit union I belonged to since 1976 got bigger, they started acting just like the Big Banks.  I still have a small savings account there, which they diminished by charging a "service fee" they insisted they informed customers of (they didn't) and when my quarterly statement arrived, they had sucked out an unreasonable amount.

      Subsequently, I did deposit enough to meet their brand new minimums (and, no, they never refunded those fees) just to avoid the fees and keep my foot in the door over there, but I do use a big bank with lots of ATMs and maintain minimum balances to avoid their plethora of fees.

      Not all credit unions are wonderful.  I wish they were.

      There already is class warfare in America. Unfortunately, the rich are winning.

      by Puddytat on Wed Jul 30, 2014 at 02:37:00 PM PDT

      [ Parent ]

      •  Mine slapped a 15 day hold on a (1+ / 0-)
        Recommended by:
        Puddytat

        cashiers check (from an account I had closed at another institution) even though I had funds in my account to cover that deposit. My old credit union (we had moved) called to confirm the funds.

        Didn't matter.

        I looked into another credit union here. The only way I could open a savings account there was to essentially submit a credit app.

        They called it a "identification check." But the guy said that they get a FICO score that I could use to apply for a loan, including a mortgage. I told them our credit agency files are frozen to protect against identy theft. If they wanted to run one credit agency, I'd pay the $20 to open that.

        Nope, all three had to be opened and run. That's $60 and ALL my credit info is lying around in the hands of people who don't need it.

        Screw it. Chase knows us. I never should have left.

        © grover


        So if you get hit by a bus tonight, would you be satisfied with how you spent today, your last day on earth? Live like tomorrow is never guaranteed, because it's not. -- Me.

        by grover on Wed Jul 30, 2014 at 02:57:21 PM PDT

        [ Parent ]

      •  :o( Do you have access to UWCU? (0+ / 0-)

        "If you're in a coalition and you're comfortable, you know it's not a broad enough coalition /= GTFO" Dr. Bernice Johnson Reagon + JVolvo

        by JVolvo on Wed Jul 30, 2014 at 04:02:17 PM PDT

        [ Parent ]

        •  I've been told you have to work (1+ / 0-)
          Recommended by:
          JVolvo

          for the state or for UW to use it?  

          There already is class warfare in America. Unfortunately, the rich are winning.

          by Puddytat on Thu Jul 31, 2014 at 08:38:03 PM PDT

          [ Parent ]

          •  not at all :o) maybe back in the day. not now (1+ / 0-)
            Recommended by:
            Puddytat

            at least not in Madison.  check em out!

            "If you're in a coalition and you're comfortable, you know it's not a broad enough coalition /= GTFO" Dr. Bernice Johnson Reagon + JVolvo

            by JVolvo on Thu Jul 31, 2014 at 08:42:05 PM PDT

            [ Parent ]

            •  Do you use them? (1+ / 0-)
              Recommended by:
              JVolvo

              Good experience with that CU?

              There already is class warfare in America. Unfortunately, the rich are winning.

              by Puddytat on Fri Aug 01, 2014 at 10:45:23 AM PDT

              [ Parent ]

              •  Big time. They're big enough to be full service (1+ / 0-)
                Recommended by:
                Puddytat

                (car loans, mortgages, refis, their own credit and debit cars, etc) and not be pushed around yet still a credit union: no bullshit fees; happy, helpful employees; no shareholders that demand stock price increase or dividend payments out of our $$; debit/ATM in the Pulse network (widespread network, no fees).

                etc

                Get thee to a location or your phone to check em out   :o)

                        vvv        vvv        vvv

                5 branches spread across greater MKE area:

                http://www.uwcu.org/...

                Good Luck!

                "If you're in a coalition and you're comfortable, you know it's not a broad enough coalition /= GTFO" Dr. Bernice Johnson Reagon + JVolvo

                by JVolvo on Fri Aug 01, 2014 at 12:32:26 PM PDT

                [ Parent ]

    •  Make sure you watch it with chase. (3+ / 0-)

      Dont ever let your balance go below the $1500 minimum or youre gonna get slammed for $25 a month. Thats for a basic checking account, which is fucking insane.

      Then try and get a loan for a business, home improvement, or auto. They will tell tou come back when you dont need the money.

      With the credit union, you can borrow with ease.

  •  These banks being among HRC's top donors, I'm (12+ / 0-)

    quite certain she will use her influence with them to fix these problems just like Obama kept his promise to help troubled homeowners with their mortgages.

    The frog jumped/ into the old pond/ plop! (Basho)

    by Wolf10 on Wed Jul 30, 2014 at 01:51:19 PM PDT

    •  HRC (2+ / 0-)
      Recommended by:
      MikePhoenix, Wolf10

      Will only get my vote because in OkieLand it does not matter anyway. Ever since she had that cafe klatch with the Mellon heir, now dead, good,

      I don't trust her at all. Not that I did much before, how many apprentice cattle futures traders can get a Tyson deal? The company eats the losses and you keep the winning tickets. True or not it smelled like the stock yards around Amarillo in summer, or Chicago.

      Just what experience is she bringing to the top job??

  •  stop charging people to use their own money (8+ / 0-)

    That would be the simplest thing the banks could do to improve their standing: go back to making all their money off interest on loans they make with people's deposits.

    After that, microcredit.  Most people who want to borrow money don't want to borrow tons of money and when they do, it's usually because of unexpected bills rather than something they've carefully planned for (like buying a house).  People really don't like being put between a rock and a hard place: "I need to spend money I don't have, or I'm going to be even worse off, but I can't get a loan because I don't already have that money!"  Banks consistently turn away those who don't need much to make a big difference.

    After that, make it easier to live with debt.  Microcredit works in part because most people are suckers have a moral compass and will pay back what they owe as a matter of principle.  They may need more time depending on what happens in their lives - and depending on what the economy does (which they can't control) - and they definitely want the interest to not billow out of control while they take that time.  But banks issue new loans on the basis of actuarial models, not on actual repayments, that project interest income far into the future, so that shouldn't be a problem for them.

    People are eager to use banks' services to build and secure their lives and property, but the banks are not willing to provide them, at least not without minimum amounts of money plus extra costs that rich people can absorb without a thought.

    Domestic politics is the continuation of civil war by other means.

    by Visceral on Wed Jul 30, 2014 at 02:04:27 PM PDT

    •  So do it. (0+ / 0-)

      Sounds like you have a good business plan.

      -7.75 -4.67

      "Freedom's just another word for nothing left to lose."

      There are no Christians in foxholes.

      by Odysseus on Wed Jul 30, 2014 at 05:20:01 PM PDT

      [ Parent ]

    •  You are exactly right (0+ / 0-)

      There is a gap in loan amounts.  Credit cards are expensive but from time to time I have to use them to get through a month with a surprise bill.  

      I would especially like it around the holidays when it would be nice to have say and extra $1000 and pay it off slowly rather than having to rush to get a card paid off.

      •  There used to be things called (0+ / 0-)

        Christmas Clubs where people deposited a small amount every week during the year and collected the money in December.  Didn't pay interest, tho.  Rather than borrow and repay, why not save a little every month and take the money out at the end of the year?  Don't pay any interest and even make a buck or so.

  •  My banks are Okay but Time Warner Cable (4+ / 0-)

    The worst.

  •  And that's just from the little people do know (2+ / 0-)
    Recommended by:
    susans, happymisanthropy

    about how these parasites operate, from the way they're treated as customers.

    "Those who can make you believe absurdities can make you commit atrocities." - Voltaire

    by Greyhound on Wed Jul 30, 2014 at 02:15:32 PM PDT

  •  Last week, I closed my checking account (16+ / 0-)

    at PNC.  They started charging me $7 a month because I do not direct-deposit at least $500 a month into it.  The account was a convenience, not a necessity, and there's no way I'm going to keep an account open when it's costing me money.  So I closed it.

    However, I had to consider how many people out there are not in a position to close their accounts when their banks screw them over like that.  And, of course, the poorest people, who have the fewest resources, get screwed the worst.

    -5.13,-5.64; GOP thinking: A 13 year path to citizenship is too easy, and a 5 minute background check is too burdensome. -- 1audreyrenee

    by gizmo59 on Wed Jul 30, 2014 at 02:25:18 PM PDT

    •  Chase hits you with $25 if you dont do that. nt (2+ / 0-)
      Recommended by:
      gizmo59, atana
    •  I have PNC also, too (1+ / 0-)
      Recommended by:
      gizmo59

      or more accurately they have ME. I didn't ask for them, didn't sign up for them, they're just the last in a long line of bigger fish that have gobbled up all the other banks I was with beginning back in 1986 when I got out of the army. The food chain went from a local S&L, which was reorganized as a bank after the S&L crisis, which was then bought by a regional bank, which was then bought by a multinational, which then sold off its US operation to PNC.  I guess the only thing I'm unhappy about with PNC is that I didn't make that choice.  I was happy enough with the bank I had, and the sale took that option away.  Same-same with my mortgage, which has been sold so many times I can't even remember who originally funded it.  If you ever wanna feel like a marble on a Chinese Checker board, look at your relationship with the banking industry.

      I'll believe corporations are people when one comes home from Afghanistan in a body bag.

      by mojo11 on Thu Jul 31, 2014 at 07:55:28 AM PDT

      [ Parent ]

      •  I've been with USAA Federal Savings Bank for 36... (0+ / 0-)

        I've been with USAA Federal Savings Bank for 36 years. They are excellent. If you've been in the military you can join USAA. They are San Antonio, but refund atm fees other banks charge. Customer service is great. Deposit at home or by phone is easy.

  •  good to know I'm not the only one taht (6+ / 0-)

    hates Wells Fargo.

    Der Weg ist das Ziel

    by duhban on Wed Jul 30, 2014 at 02:43:29 PM PDT

  •  My bank isn't too bad, but, (4+ / 0-)

    I also have a credit union account. I keep contemplating consolidating everything to the CU, but I've been lazy. I've been at my bank, which isn't large enough to be listed above, for 25 years.

    I don't bless people often, but I bless Elizabeth Warren every chance I get. And Richard Cordray has done a good job going after the banks. Keep it up, sir!

    Nothing matters but the song.

    by 47songs on Wed Jul 30, 2014 at 03:04:08 PM PDT

  •  I only bank at a community savings and loan now (3+ / 0-)
    Recommended by:
    Wolf10, alypsee1, Odysseus

    And I am very very happy.  

    Daily Kos an oasis of truth. Truth that leads to action. UID: 9742

    by Shockwave on Wed Jul 30, 2014 at 03:12:17 PM PDT

  •  I hate the banks (1+ / 0-)
    Recommended by:
    atana

    I have always hated the banks, but they just get worse. They survived the crash just fine & then they had the nerve to not "lend" to the people that needed it!

    Despicable worms!

    Blessed are the hearts that can bend; for they can never be broken Albert Camus

    by vcmvo2 on Wed Jul 30, 2014 at 03:17:46 PM PDT

  •  Banking reform and David Dayen spring to mind. (3+ / 0-)
    Recommended by:
    Tinfoil Hat, KateCrashes, atana

    That we must both maintain and increase the pressure for banking reform is obvious. We have opportunities with Janet Yellen, at the Fed, which we did not have in the past. Additionally, David Dayen's articles covering community banking and, most recently, USPS banking should become tightly woven into our agenda in this area. See David's article at the New Republic "The Post Office Should Just Become a Bank.".

    "When in doubt, do the brave thing." - Jan Smuts

    by bunnygirl60 on Wed Jul 30, 2014 at 03:29:41 PM PDT

  •  Banks are evil nt (3+ / 0-)
    Recommended by:
    The Dead Man, brooklynbadboy, atana

    I voted Tuesday, May 6, 2014 because it is my right, my responsibility and because my parents moved from Alabama to Ohio to vote. Unfortunately, the republicons want to turn Ohio into Alabama.

    by a2nite on Wed Jul 30, 2014 at 03:34:36 PM PDT

  •  oddly enough (4+ / 0-)
    Recommended by:
    GreenMother, sidnora, turnover, Odysseus

    I've had nothing but stellar mortgage and account service from BofA, I tried to open an account at Wells Fargo but was placed in what can only be described as the "leper line".

    The Leper line is the line non-account holders must wait in, no leper is served until all account holders are served first.

    I cant imagine that this is a policy at all Wells Fargos, but to my I didn't give an Eff at that point. I spoke to the branch manager and told him in no uncertain terms that it would be a cold day in hell when I would bank at Wells Fargo and I would spend the rest of my life telling people to stay away.

    when Wells Fargo purchased the securities company that had my IRA, I immediately rolled it over to a company not held by them. The person on the other end of the line tried to convince me that they didn't operate like that and I simply said I'm sorry, you get none of my money.

    Religion is like a blind man, in a pitch black room, searching for a black cat that isn't there.....and finding it.

    by fauxrs on Wed Jul 30, 2014 at 03:36:56 PM PDT

    •  Yeah, they operate like that (1+ / 0-)
      Recommended by:
      NoBlueSkies

      two of my daughter's student loans ended up there.  One month they applied all the funds to one loan and didn't pay the other.  so she and i started getting late notices;  we called, told them what happened, they said, oh you're right.  Kept happening for the next two months, finally got it fixed.  Now it shows up on my credit report as 90 days delinquent.  I wrote an explanation, and fucking WF denied my veracity.  I had names and and dates and times and they still said it never happened.  And this was 6 years ago and it still shows up and they still refuse to correct it.  I would never give them a penny of my money.

  •  It's self inflicted on the Bank's part. (3+ / 0-)
    Recommended by:
    NoMoreLies, Odysseus, atana

    "It were a thousand times better for the land if all Witches, but especially the blessing Witch, might suffer death." qtd by Ehrenreich & English. For Her Own Good, Two Centuries of Expert's Advice to Women pp 40

    by GreenMother on Wed Jul 30, 2014 at 03:58:57 PM PDT

  •  I'm very fortunate. (1+ / 0-)
    Recommended by:
    Odysseus

    My only accounts are with a local credit union, and USAA's FSB. The customer service is local and wonderful with the first; telephonic and brilliant with the second.

    Both of these relationships were more or less passed down to me; I can scarcely imagine the pain of shopping for a place to put MY money (meager as it may be).

  •  How to lie with statistics. (1+ / 0-)
    Recommended by:
    andgarden
    Bank of America earned 38,833 complaints, Wells Fargo drew 26,055, and JPMorgan Chase was the subject of 20,057.
    OOOOOHHHH!!!  BIG SCARY NUMBERS!!!

    Raw numbers are meaningless.  At a minimum, you need to pro-rate these for percentage of total account market share.

    -7.75 -4.67

    "Freedom's just another word for nothing left to lose."

    There are no Christians in foxholes.

    by Odysseus on Wed Jul 30, 2014 at 05:24:07 PM PDT

    •  Exactly! (0+ / 0-)

      The market-share chart probably looks just the same.

      The more accounts you have, the more complaints you get.

      The proper chart would show the number of complaints per customer.  That would be something useful to look at.

      Dammit Jim, I'm a Doctor, not a Bricklayer!

      by dbcoe on Fri Aug 01, 2014 at 05:26:22 PM PDT

      [ Parent ]

  •  I have credit cards with a few of em for travel, (0+ / 0-)

    Amex basic green and Capital One Quicksilver, which is actually a pretty awesome card once you start racking up reward money. But other than that, I dont use any of them. I especially avoid Bank of America at all costs.

    Local credit union guy here. And cash.

    •  Just make sure you never ever pay Capital One late (2+ / 0-)
      Recommended by:
      brooklynbadboy, rhauenstein

      My sister did that one month and they jacked her interest rate up to 33 1/3% and added a ton of fees.  Lots of horror stories with them.

      Sinbad on dodging sniper fire in Bosnia - "What kind of president would say, 'Hey, man, I can't go 'cause I might get shot so I'm going to send my wife...oh, and take a guitar player and a comedian with you.'"

      by askew on Wed Jul 30, 2014 at 07:09:41 PM PDT

      [ Parent ]

  •  Don't hurt me (0+ / 0-)

    I switched from a regional bank which was terrible to Ally last year and I love it.  I'm not sure that will go over so well here because they are a big national bank that used to be GMAC financing before the bail out.  I resisted switching to a bank with no branches until I bought a house and my bank branch was less than useless at helping me gather documentation.

    I am a tech savy person so it works well for me.  They refund ATM fees so ican use any ATM.  I have only had one overdraft in years but Ally only charges $9 and once per day.  When I had an overdraft at my last bank they charged me $38 even though it was the first and only one in 7 years!

  •  I love my credit union (0+ / 0-)

    Everything good a man can be, a dog already is. - pajoly

    by pajoly on Wed Jul 30, 2014 at 05:38:45 PM PDT

  •  Experiences like this are why I moved 100% of my (1+ / 0-)
    Recommended by:
    MrJersey

    savings and checking to USAA. I never feel like their banking and insurance components are up to no good, and I can't think about a single thing that I would ever complain to the CFPB about.

  •  hating my bank (0+ / 0-)

    I did

    Joined a credit union

    Happy ever since

  •  Wouldn't take a check (1+ / 0-)
    Recommended by:
    OldDragon

    My daughter took a LARGE check form a MAJOR investment company, made out to her and my husband, endorsed by both of them, to her bank: US BANK (in California.)  They wouldn't take it and put it in her account.  They "wouldn't take the risk."

    Now I know that they can legally keep the amount out of the account for a certain number of days (9??) or they could have waited to credit her account until it cleared.  But no dice.

    They are one of the banks that lets people "deposit" a check via taking a photo with your cell phone and sending it in.  

    So I was needing to help her with this pickle she was in, holding a large check, already endorsed.  She is mailing it to us and we will put it in our US BANK account, probably with no problem. The local US BANK people told me that we can easily deposit any check with them, in person or by mail, and we can easily put money from our account directly into her account.

    SHEESH

    Green and buzzy (mosquitoes.)

    by Andy Cook on Wed Jul 30, 2014 at 07:59:11 PM PDT

    •  Sounds like a two party check. Most banks don't... (0+ / 0-)

      Sounds like a two party check.

      Most banks don't take them *at all* if it's from another bank than the location it's being deposited into, even when both parties are present at the counter when it's time to cash the thing.

      I know this to be true; it happened to me a couple weeks ago.

  •  I haven't noticed any impact of CFPB on the fees (0+ / 0-)

    the check cashing/payday lenders charge me -- it's ~$20/month for one money order for rent. Most of that gouging is a fee for transferring money from my Social Security US Direct Express account, which doesn't give you any mechanism for writing checks.

    American Presidents: 43 men, 0 women. Ready for Hillary

    by atana on Wed Jul 30, 2014 at 08:36:57 PM PDT

  •  this is why (1+ / 0-)
    Recommended by:
    Occulus

    EVERYONE needs to get on board with Elizabeth Warren's postal banking proposal. There's no reason not to support it like crazy, even if you yourself don't plan to take part in it.

    Sign the petition:

    https://www.credomobilize.com/...

  •  I love my credit union. (1+ / 0-)
    Recommended by:
    NoBlueSkies

    Feel trickled on yet?

    by War4Sale on Fri Aug 01, 2014 at 03:55:25 PM PDT

  •  I use services of 2 of these companies (0+ / 0-)

    I've had a MasterCard since 1977 which I got through a local bank but throughout the years ended being serviced by Bank of America. They have been accommodating and the only time I was late with payment due to me misplacing my bill (when I still mailed checks) they gave me credit. My mortgage is with Chase, again through a series of acquisitions by other companies who had it, and I've never even had to talk with them.

  •  I just got a check (Not spam) -Payday lending 2.0- (0+ / 0-)

    for $67,119.56 made out to me and my business.

    Here is the next payday lender putting small business under all around you.

    The Scam: I deposit $67,119.56. They now have my banking information. They quickly deduct 25% or $17,115.
    I or my Business still owes $67,119.56. I have a limited time (months ) to pay $67,119.56  back or the big suck comes again.

    They will deduct money as they see fit anyway as receipts are deposited.

    Name of the thief: Merchants Capital Access.

    One of 100s preying on small business still trying to stay afloat during the long recession.

    “ Success has a great tendency to conceal and throw a veil over the evil of men. ” — Demosthenes

    by Dburn on Fri Aug 01, 2014 at 04:02:09 PM PDT

  •  I love my credit union (0+ / 0-)

    been with them since the 90s, love them. Why weren't any BoA execs jailed????

  •  Americans are rational. Of course we hate those (0+ / 0-)

    banks.

    We bank now with a local bank with a few branches.  A little short on some of the glitzier services and a little less convenient when traveling around, but...

    Ahhhhhhhh. So much better having a bank you can work with.

    LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

    by dinotrac on Fri Aug 01, 2014 at 04:12:09 PM PDT

  •  Interesting. Wells Fargo has been my bank for (0+ / 0-)

    years and I have never had any problems. Of course, I don't have any loans from them.

    You might very well think that; I couldn't possibly comment.

    by MikePhoenix on Fri Aug 01, 2014 at 04:13:32 PM PDT

  •  Credit Unions all the way... (0+ / 0-)

    had a personal account and a small business account at mine. The manager was super excited when my friends and I opened the small business account. Whenever we went in to handle business, he would stop by and chat with us to see how things were going.

  •  When I dreaam about the big banks.... (0+ / 0-)

    Pitchforks, Tourches
    Pitchforks, Tourches
    Pitchforks, Tourches

    A government afraid of its citizens is a Democracy. Citizens afraid of government is tyranny! Thomas Jefferson

    by wbishop3 on Fri Aug 01, 2014 at 04:31:58 PM PDT

  •  Bank of America just blows (0+ / 0-)

    And not in a good way. It seems like every single angle of their business is designed to fuck over Americans.

    One time when I moved to a new town, I considered Bank of America. I took my first paycheck in, which was written out to Bank of America. They still wanted to charge me to cash it. I turned right around and got a WaMu.

    Now I have my favorite bank of all time. They are local, like 6 branches. They refund ATM fees from any bank, they have mobile deposit, and they have no-fee BUSINESS checking. I sing their praises. They are Mechanics Bank.

    Where you happen to live reading this, there is a great local bank near you. There is absolutely no reason or need to deal with megabanks any more. And it is such a relief to know you're in a partnership with people who don't suck.

    "Think. It ain't illegal yet." - George Clinton | http://ideaddicted.blogspot.com

    by jbeach on Fri Aug 01, 2014 at 05:35:33 PM PDT

  •  I'm with a local bank (0+ / 0-)

    and I was before I moved here too, but I have a BOA VISA card. I hate that I do, and it wasn't originally a BOA. Originally it was from TVA Credit Union when I lived in Tennessee, and they turned it over or sold it or something to BOA without asking or telling me. By then I'd had it for so many years I really did not want to change it and mess with my credit, so I'm stuck. But I hate, hate, HATE Bank of America and everything they do!

    Being "pro-life" means believing that every child born has a right to food, education, and access to health care.

    by Jilly W on Fri Aug 01, 2014 at 08:10:44 PM PDT

  •  No need to do business with criminals (0+ / 0-)

    Whenever someone complains about their bank I tell them to take their money out and go elsewhere.  I am a member of a credit union and they don't spend all day thinking of ways to screw me out of money.

    Get busy living or get busy dying

    by Kaiser Soeze on Sat Aug 02, 2014 at 08:13:04 AM PDT

  •  Big banks (1+ / 0-)
    Recommended by:
    Nada Lemming

    Don't forget they're trying to destroy credit unions.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site