The Consumer Financial Protection Bureau began collecting data on banking complaints in March 2012 to help identify potentially harmful practices. Since then, the nearly 19,000 consumer complaints it has collected have been organized into a searchable database. Its first set of analyses done on these complaints gives insight into the 10 most complained about banks in the United States, when controlled for the ratio of number of complaints to billions in deposits. Three have a major presence in Boston.
Sovereign Bank, for example, barely missed the top 10 list with 442 total complaints. It ranked 12th overall and had the third most complaints in Massachusetts. Sovereign ranked second in complaints regarding deposits and withdrawals, account management, and issues with ATM and debit cards.
Check out which banks do have the misfortune to break the top 10 list.