Do you feel that your bank is acting unfair? Did the bank just inform you that they are changing something on one of your accounts and there is nothing you can do about it? Maybe you noticed that the bank changed something on one of your accounts without even telling YOU! Are you left wondering "can they do this" or "who can I call to help me with this frustrating problem?"
I had a credit card that I obtained back in my good old undergrad days. That's right, back in the days where the credit card companies used to camp out on the campuses and target all of the students! Well, I got a pretty good deal in those days, I signed on with a credit card that had a fixed rate APR for life. I have always been somewhat proud of finding this relatively decent deal on a credit card, even during my most naïve years.
Unfortunately, last year, I noticed on a statement that the bank had changed the fixed rate on my card without even informing me. The rate was now variable. I called the bank to ask for an explanation, since I signed up for the card under certain circumstances and those circumstances had significantly changed. I was very coldly informed by the bank representatives that this bank simply does not offer fixed rate APR credit cards any longer.
I was fairly unhappy with the entire situation at this point. I kind of felt like I had been taken advantage of, I mean at this point, I did have a hefty balance on the card that I accrued expecting it to be maintained under the original card agreement circumstances. Seems really unfair! The banks can change anything they want, and you simply have to deal with it. That just doesn't seem right. Seems like they told me one thing to get me to accrue the balance and then when my hands were tied, they simply changed what they initially told me. I don't like that situation at all. So, I started researching the topic feverishly to discover if a solution exists.
Well, you can obtain answers to all of your questions and here is some very valuable information, the banks DO HAVE TO ANSWER TO SOMEONE.
Who to call:
Contact the COMPTROLLER of the state in which you reside. The contact information for the comptroller of your state is easily obtained by simply running a search with the name of your state and the word comptroller. Contacting the comptroller WILL start an investigation into any reported banking practices.