Bank of America and JPMorgan Chase accounted for 1 / 4 of all bank complaints in Florida last year, with mortgage disputes by way the foremost common gripe statewide, per an analysis released Monday. Mortgage gripes accounted for pretty much a 3rd (30%) of all complaints, followed by account balance disclosures (21%).
Miami economist and bank consultant Ken Thomas, who based mostly his analysis on 3 years’ price of knowledge from the Florida Division of economic establishments, said he wasn’t shocked at Bank of America’s high rank as a result of it’s the most important establishment in Florida. What was shocking, he said, is that complaints regarding the North Carolina-based megabank have risen every of the past 2 years, whereas the full variety of bank complaints in Florida fell twenty fifth from 2009 to 2010.
In 2008, Bank of America accounted for simply over twelve-tone system of all complaints statewide; by last year, its share had risen to sixteen.5% of all complaints. Bank of America spokeswoman Christina Beyer Toth said bank personnel conversant in tracking complaints weren't on the market Monday.
JPMorgan Chase stood out in an exceedingly totally different method. The bank has but three-d of Florida deposits however represented nearly 11th of September of complaints. Chase spokeswoman Daisy Cabrera declined to handle specifics, saying the bank had not seen the analysis. however Cabrera maintained Chase addresses client complaints “quickly and efficiently we tend to stay committed to continuing our Florida enlargement and serving to customers.”
Thomas said the DFI database includes complaints for Chase affiliates, like credit-card operations, however the information in these tables are just for the bank. even though Chase’s numbers were inflated as a result of some credit-card complaints were miscategorized, the information still shows persistently high criticism levels since 2008. 2 years when Chase bought and integrated Washington Mutual, that greatly helped expand its Florida footprint, the criticism numbers ought to be lower, he said.
The report’s bottom line, Thomas said, is that Bank of America and Chase stick out within the criticism department in distinction to establishments like Wells Fargo, that had a lower criticism ratio compared to deposits, even when absorbing the troubled Wachovia Corp.
“The truth is that some monetary establishments do a much better job of serving customers than others,” he said. “Those having monetary or alternative difficulties usually reduce on staff and client service. Even the strongest banks, however, will have several complaints if they're not serving their customers well.”
Among alternative findings, a credit union cracked the highest 5 criticism list: area Coast Credit Union, that assumed assets of the failed japanese monetary Florida FCU. Saxon Mortgage Services, that assumed a part of the mortgage portfolio of the failed Taylor, Bean & Whitaker operation, additionally ranked high for its size.