What is the FDICs Consumer Affairs Program?
Congress requires that the FDIC receive, track, investigate, and respond to consumer complaints of unfair or deceptive practices by financial institutions. The FDIC has expanded this mandate to include responding to inquiries from consumers, financial institutions and others about consumer protection and fair lending matters. The FDIC also responds to inquiries from consumers and financial institutions about deposit insurance. How Can the FDIC’s Consumer Affairs Program help you? The FDIC has statutory responsibility to promote and enforce compliance by FDIC-supervised financial institutions (state-chartered banks that are not members of the Federal Reserve System) with fair lending and other consumer protection laws and regulations. In addition, as part of its responsibility as insurer of bank and thrift institution deposits, the FDIC promotes public understanding of and confidence in the federal deposit insurance system. The FDIC is committed to maintaining a high standard of service
