I'm posting this anonymously because I'd rather no one trace it back, but I'm rather frustrated and disappointed. I've been doing compliance for over ten years and have been helping a relative with a unauthorized transaction issue under Reg E. The bank has been uncooperative; promising to send a response by a certain date, letting it go by without contact, etc. They haven't even followed the error resolution procedures, as this claim was made in November 2003 and they have yet to provide a written response. I advised the person to go to the OCC. Imagine my surprise when the letter came, six months after filing the complaint, and not only was it filled with misspellings and spacing errors, it was condescending and interpreted the regulation incorrectly.
The relative has since sent specific Reg E cites to the OCC, requesting a second review to occur in hopefully less than six months time, but I just find this whole experience frustrating and disappointing. What if this relative didn't know anyone who knew better? Why would the OCC send a letter that is so unprofessional?
I'm thinking about helping my relative write a letter to his representative and senators, as they would be the next level. Any other suggestions? I did help draft an e-mail to the OCC with cites of the regulation, indicating their interpretation was contrary to what was on the page and asked for a second review.
<sigh>