CFPB To Start Taking Bank Account Complaints

Law360, New York (March 1, 2012, 1:50 PM EST) -- The federal government's consumer financial products watchdog said Thursday it would begin accepting complaints about savings, checking and other bank accounts, just more than a week after revealing a probe into checking account overdraft fees.

The Consumer Financial Protection Bureau said account holders could begin submitting complaints related to account opening, closing and management; deposits and withdrawals; debit and ATM cards; making or receiving payments; and penalties for low account funds. Banks will have 15 days to respond to complaints and 60 days to close out...
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