Tuesday, October 30, 2018

Texas CU Regulator: Complaints Up Almost 20 Percent in FY 2018

The Texas Credit Union Department is reporting that there were 347 complaints against credit unions for fiscal year (FY) 2018. This is up almost 20 percent compared to fiscal year 2017.

The following chart identifies the top complaints received in fiscal year 2018.

Other frequently cited complaints included account/loan balances, collections, electronic funds transfers, hold on checks/accounts, closed or frozen accounts, vehicle title issues, billing disputes, and the purchase of collateral protection insurance for loans.

The Texas regulator noted that credit unions should work with their members to resolve issues before they become complaints.

Read the Department Newsletter.

No comments:

Post a Comment


The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.