Where can one annonomosly report possible unethical buisness practices in the financial lending industry?

Answer 1

If by unethical you mean illegal (i.e., like decisions made based on someone's race) then you can call any of the following depending on what type of financial institution you are talking about:

Office of the Comptroller of the Currency; Federal Reserve Board; and Justice Department for national banks.

SEC for brokers.

There is a national board that regulates credit unions, but I can't think of it right now, I think it may be abbreviated NCUA.

Office of Thrift Supervision for thrifts.

Federal Trade Commission for other type of lending institutions.

State banking office (i.e., state attorney general, etc.) if the bank is a state (not a national bank) and check cashers.

If you don't know what type of financial lender you are dealing with, start with the state banking office and they should be able to tell you what type of lender it is.

Answer 2

Unless there is an ethics review board that the lenders are responsible for obeying, unethical conduct is not actionable. Why? Because codes of ethics are voluntary, unless they are part of a profession that enforces those ethical codes (like psychologists or physicians or attorneys).

Now, if it is illegal conduct, that is a different matter and I'd start with the local Secretary of State or Attorney General's office. If they can't help you, they can usually point you to who can.

Answer 3

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