Wis. Admin. Code Department of Financial Institutions DFI-SB 2.05 - Complaints against savings banks
(1) WHERE TO
COMPLAIN. Any person with a complaint against a savings bank who has been
unable to satisfactorily resolve it after discussing it with the management of
the savings bank may file a written complaint with the division.
(2) CONTENTS OF COMPLAINTS. Written
complaints to the division shall contain:
(a)
The name and address of the complainant.
(b) The name of the savings bank and the
person complained of or involved, or both.
(c) A concise statement of the facts
underlying the complaint.
(d) A
statement of the specific action requested of the savings bank.
(e) If the complainant has discussed the
matter with a representative of the savings bank, the dates of any discussions
and name of the representatives.
Note: Address complaints to the Department of Financial Institutions, Division of Banking, 4822 Madison Yards Way, North Tower, 5th Floor, PO Box 7876, Madison, WI 53707-7876.
(3) PROCEDURE UPON RECEIPT OF A
WRITTEN COMPLAINT.
(a) If the respondent is a
savings bank which has formed an organization with other financial institutions
to hear complaints, the division may refer the complaint to that organization,
if no officer, director or employee of the savings bank being complained about
participates as a member of the organization in processing the complaint. If
there is no such organization, or if after using it the complainant or the
respondent seeks further aid from the division, the division shall investigate
the complaint.
(b) Upon receiving a
written complaint, the division shall determine whether additional information
is needed and if so, request it. The division may send a copy of the complaint
to an officer of the savings bank complained about and request additional facts
and the savings bank's reply.
(c)
After the investigation under pars. (a) and (b), if the division finds probable
cause to believe that there has been a violation of a law, state rule or
federal regulation, the division shall immediately endeavor to correct the
probable violation by conference, conciliation, persuasion or order. If the
division determines that the savings bank has corrected the alleged violation,
he or she shall dismiss the complaint and so notify the parties. However, if
the division determines that efforts at resolution have been unsuccessful, he
or she may hold a hearing on the complaint. After the hearing, the division
shall issue written findings of fact and conclusions of law, and may make such
orders as he or she deems just, reasonable and appropriate.
(d) If, after investigation, the division
finds no probable cause or refers the complaint for action by another person or
agency, he or she shall so notify the complainant and the savings
bank.
Notes
This section interprets or implements s. 214.715(1) (a) and (c), Stats.
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