Is the Commissioner of Financial Regulation responsible for resolving complaints about State-chartered banks or credit unions?
The Commissioner of Financial Regulation is responsible for the safety and soundness of State-chartered financial institutions. The Commissioner has the authority to enforce compliance with State banking laws. Matters involving crimes such as fraud or accusations of discrimination will be referred, after investigation, to the proper law enforcement agency. In cases where a consumer and a financial institution have a factual dispute, and they are unable to resolve the dispute, the Commissioner usually recommends that the consumer retain legal counsel to seek redress in court.
