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Consumer Complaints

Which Institutions are Regulated by the Division of Banking?

Before filing a complaint, it must first be determined whether the Division of Banking has any statutory authority over the institution for which the complaint is directed. The Division of Banking is responsible for investigating consumer complaints and answering consumers’ questions regarding state-chartered depository and non-depository financial institutions, state-chartered credit unions, sellers of checks, check cashers’, money transmitters, licensed loan brokers, licensed small loan lenders and licensed lenders. The Division does not regulate the following institutions:

Which Institutions are not Regulated by the Division of Banking?

Federally-Chartered Financial Institutions (Banks)

The Office of the Comptroller of the Currency (OCC) oversees the nation’s federally chartered banks. Federally chartered banks can often be identified by the words National or National Association or the initials N.A. in their names. The OCC is headquartered at 250 E St., S.W., Washington, D.C. 20219-0001. The OCC’s consumer assistance group is located at 1301 McKinney Street, Suite 3450, Houston, TX 77010.

For consumer assistance, call 1-800-613-6743 or contact the OCC at its Web site at www.helpwithmybank.gov.

Federally-Chartered Savings Banks and Savings Associations

The Office of Thrift Supervision (OTS) supervises federally chartered savings banks and savings associations. Federally chartered savings banks or savings associations often have the word Federal or the initials FSB or FA in their names. The OTS is headquartered at 1700 G St., N.W., Washington, D.C. 20552.

For consumer assistance, call 1-800-842-6929 or e-mail the OTS at its Web site at Customer.Complaint@OTS.treas.gov

Federally-Chartered Credit Unions

The National Credit Union Administration (NCUA) supervises federally chartered credit unions. The Federally chartered credit unions often have the word Federal in their names. The NCUA’s regional office is located at 9 Washington Square, Washington Avenue Extension, Albany, NY 12205.

For consumer assistance, call 1-518-862-7400 or e-mail the NCUA at its Web site at Region1@ncua.gov.

Listing of State-Chartered Financial Institutions

Rhode Island State Chartered Financial Institutions

· AAA Southern New England Bank
· Bank of Newport
· Bank Rhode Island
· Centreville Savings Bank
· CoastlineTrust Company
· Coastway Community Bank
· Independence Bank
· Textron Business Credit, Inc.
· Van Liew Trust Company
· The Washington Trust Company

Rhode Island State Chartered Credit Unions

· Columbus
· Coventry
· Cranston Municipal Employees
· Dexter
· Greenwood
· Navigant Credit Union
· Pawtucket
· The People’s
· Rhode Island
· Westerly Community

Loan Lenders and Loan Brokers

Loan Brokers and Lenders that do not need licenses in the State of Rhode Island are those who (1) do not make a loan secured by real property in this state (2) do not originate or take applications in this state and (3) do not close loans in this state. Additionally, lenders who make less than six loans in any consecutive twelve month period and lenders who purchase or service loans that were originated or closed by another loan company are exempt from licensing. This exemption does not apply to loan brokers.

Complaints regarding brokers or lenders not licensed in the State of Rhode Island should be directed to the state in which the entity is located. Information regarding individual states may be obtained through the Conference of State Bank Supervisors (CSBS) at http://www.CSBS.org

When Should I File a Complaint?

Before filing a complaint with the Division, consumers should make an attempt to resolve the dispute themselves. We have found that complaints can normally be resolved if the consumer contacts the company directly. If you have not already done so, please contact the office manager and attempt to resolve the problem. If direct contact is unsuccessful, or if you're dissatisfied with the results, please fill out the appropriate complaint form and send it to our office. Your complaint will be promptly acknowledged, and you will be advised of any action we take. The Division cannot act on complaints unless the complaint is made in writing.

Please be aware that we are not authorized to pursue redress on behalf of individual complainants. While some complaints can be easily resolved by Division intervention, consumers should understand that the Division cannot serve as a substitute for a court of law. In many instances, particularly where violations of laws under the Division's jurisdiction are not evident, it may be necessary for consumers to pursue complaints in civil court. The Division cannot give you legal advice, nor can we recommend an attorney to you.

How do I File my Complaint?

All complaints will be handled in the order in which they are received. All written complaints should include the name, address and telephone number of the person making the complaint; the name, address and telephone number of the person or company that is the subject of the complaint; and a narrative description of the nature of the complaint. Copies of documents relevant to the complaint should also be forwarded to the Division.

To file a complaint with the Division, please fill out a complaint form and return it to our office at the following address:

State of Rhode Island Department of Business Regulation
Division of Banking
1511 Pontiac Avenue, Bldg 68-2
Cranston, RI 02920