Section 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.Wis. Admin. Code Department of Financial Institutions DFI-SB 2.05
CR Register, February, 1994, No. 458, eff. 3-1-94.Amended by, correction in (Note) under s. 13.92(4) (b) 6, Stats., Register May 2018 No. 749, eff. 6/1/2018This section interprets or implements s. 214.715(1) (a) and (c), Stats.