The Consumer Satisfaction Questionnaire (FR 1379a) is sent to consumers who have filed complaints with the Federal Reserve against state member banks. The Federal Reserve Consumer Help--Consumer Survey (FR 1379b) is sent as needed to consumers who contact the Federal Reserve Consumer Help (FRCH) to file a complaint or inquiry. The Consumer Online Complaint Form (FR 1379c) allows consumers to electronically submit a complaint against a financial institution to the FRCH. The Appraisal Complaint Form (FR 1379d) collects information about complaints regarding a regulated institution's noncompliance with the appraisal independence standards and the Uniform Standards of Professional Appraisal Practice, including complaints from appraisers, individuals, financial institutions, and other entities.
Purpose: FR 1379a information is used to assess consumer satisfaction with the Federal Reserve's handling of and written response to their complaints at the conclusion of an investigation. FR 1379b information is used to determine whether consumers are satisfied with the way the FRCH handled their complaint. FR 1379c enhances consumers' ability to contact the Federal Reserve electronically. The FR 1379d creates a venue for appraisal-related complaints.
In 1975, the Federal Trade Commission Improvement Act (15 U.S.C. 57a) mandated that the Federal Reserve System handle consumer complaints involving state member banks. A 1976 staff report by the Subcommittee on Consumer Affairs of the House Committee on Banking, Currency, and Housing recommended the periodic evaluation of the Federal Reserve's complaint-handling system. In response, the Board in May 1977 developed the Consumer Satisfaction Questionnaire (FR 1379) to be sent to consumers whose complaints against state member banks were referred to a Federal Reserve Bank for investigation. In 1999, the Board extended distribution of the FR 1379 to all consumers who have filed complaints involving state member banks and began requesting that consumers provide certain demographic information. (Prior to 1999, the FR 1379 was sent only to those consumers who filed their complaints directly with the Board.) In November 2007, the Federal Reserve launched the FRCH website, www.federalreserveconsumerhelp.gov, a new centralized resource that consolidates and streamlines the Federal Reserve's consumer complaint and inquiry program. As a result, in April 2008, the FR 1379 was revised by: (1) renumbering FR1379 to FR 1379a and reducing the number of questions from 25 to 6; (2) implementing a new voluntary questionnaire, the Federal Reserve Consumer Help - Consumer Survey (FR 1379b); and (3) implementing a new voluntary consumer online complaint form, the FRCH Consumer Complaint Form (FR 1379c), available on the FRCH website.
The appraisal complaint form was created in 2012 to better assist the Federal Financial Institutions Examination Council-Appraisal Subcommittee (FFIEC-ASC) in its efforts to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act, which requires a national hotline be established for appraisal-related complaints. The appraisal complaint form was developed by an interagency working group (the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, National Credit Union Administration, and Consumer Financial Protection Bureau) tasked with assisting the FFIEC-ASC with establishing a national hotline for appraisal-related complaints. Although FFIEC-ASC operates the hotline, they do not review or respond to complaints; instead, complaints are forwarded to the appropriate federal or state agency as determined by the nature of the complaint. The Federal Reserve implemented its version of the appraisal complaint form (FR 1379d) during the first quarter of 2013.
The FR 1379a panel consists of consumers whose complaints involved state member banks that were investigated by the Federal Reserve System. The FR 1379b panel consists of consumers who contacted the FRCH to file a complaint or inquiry. The FR 1379c panel consists of consumers who submitted their complaints and inquires online via the FRCH website. The FR 1379d panel consists of appraisers, individuals, financial institutions, and other entities.
Event-generated; participation is voluntary.
The results may be published in the Board's annual report to the Congress, which deals in part with its responsibilities for consumer protection laws in the financial services area.