@Anonymous wrote:Hey everyone, I recently submitted a complaint on a lesser known credit card company known as First Savings Credit Card. I put the complaint through on December 1st 2015. It is now December 13th 2015, and the complaint still has not been forwarded to the company. When I logged in my CFPB account (to track complaint progress) there was a CFPB update that said "We usually can quickly send complaints to the company for a response. Sometimes it takes longer to correctly identify and register the company. We’re still working to register the company you identified. If we need more information to continue our work, or if we are unable to send your complaint to the company, we will let you know". I now am beginning to think that First Savings Credit Card might to be too small of a bank for CFPB to deal with. Is it possible they will just send it to the bank regulator for First Savings Credit card? And has anyone experienced something similar to this when filing a CFPB complaint against a company that is not registered in their systems?
Its actually quite common. The CFPB only deals with organizations that are worth more than 10B. They would typically send off the complaint to their regulator in this case but it looks like they are investigating this bank to see if they meet the 10B level for them to be able to handle the complaint.
Mildly curious... First Savings was my second card after my BK7 a few years ago. Other than a ridiculous interest rate (29.9%!! Obviously I never use the card but for something samll every few months to keep it active), I've never had problems with them.
Is there something I should we watching for?