How can I check the status of a bank holding company merger or acquisition?
The Board of Governors of the Federal Reserve System's
Release "Notice of Formation and Mergers of,
and Acquisitions by, Bank Holding Companies; Change in
Bank Control," provides the most recent list of bank
holding company mergers and acquisitions.
Additional information on all bank holding companies is
available at the
National Information Center Web site.
Where can I find a merger application?
Different types of application forms are required
depending on the nature of the applicant organization and
type of merger. The Board of Governors of the Federal
Web site provides more detailed information in the
Application Filing Information section.
Where can I find information about a bank that seems to
The Federal Reserve System's National Information Center
provides this information in its Institution Search.
What is the Community Reinvestment Act, and where can I
find a bank's CRA rating?
The Community Reinvestment Act (CRA) of 1977 was passed
by Congress to ensure that banks meet the credit needs of
their local communities and to encourage investment in the
immediate communities served by depository institutions.
Banks are rated periodically on their efforts to achieve
The results of these periodic ratings are
known as "CRA ratings."
An institution's CRA rating can be found on the Federal
Financial Institutions Examination Council
(FFIEC) Interagency's CRA
rating search Web site.
What is the Federal Deposit Insurance Corporation (FDIC), and what does it mean if a bank is an
The Federal Deposit Insurance Corporation (FDIC) is an
independent agency created by Congress in 1933. It is the
primary federal regulator of state-chartered banks that
not members of the Federal Reserve System. In addition,
insures the deposits of member banks, up to $250,000 per
account. Almost all U.S. banks and savings associations
are members of the FDIC.
How do I know if a bank is "safe and sound"?
Federal banking regulatory agencies do not make public
their ratings on the safety and soundness of banks and
thrifts. Some private companies offer either bank ranking
services or credit rating/analytical services, but .
Neither the FDIC nor the Federal Reserve endorses or
confirms the information provided by such companies.
How soon after I deposit a check are the funds available to
Under the Expedited Funds Availability Act, a depository
institution must make funds deposited into a customer's
account by cash, by check, or by electronic payment
available for withdrawal within a specified number of
days after the day of deposit. Generally, the amount of
time within which deposited funds must be made available
depends on the type of deposit (by check or by cash or
electronic payment) and the amount of the deposit. There
are a number of statutory exceptions, however, under which
a depository institution can delay funds availability.
Included among these exceptions are deposits into newly
established accounts, deposits into accounts where there
have been repeated overdrafts, deposits of large dollar
amounts (over $5,000), deposits where there is reasonable
cause to doubt that the check can be collected, and
deposits in emergency situations. A depository
institution must adopt a specific funds availability
policy and must disclose this policy to its customers when
an account is opened and upon request. You should check
with your depository institution to obtain a copy of its
funds availability policy and to determine when funds
deposited into your account will be made available under
Where can I find a list of banks in my area?
You can search for banks by location by using the Institution Search
function on the National
Information Center's (NIC) Web site.
Does the Federal Reserve keep information about individual
No, the Federal Reserve does not have any information
about individual bank accounts.
How can I locate information about old, lost, or abandoned
First, if possible, contact the institution that held the
account. If the institution no longer exists, you can
search for the successor to the institution (if there is
one) on the FDIC's Bank Find Web
and contact the successor institution to
determine whether it has information about the account.
If you still need information, you can contact your
state banking agency by checking in the State Government
section of your telephone directory. Provide the agency
with as much detail as possible, including the
institution's name, the account number, the exact name(s)
on the account, and any other information you may have
concerning the account.
Where are bank reserve requirements?
"Reserve requirements" are imposed on certain types of
deposits and other liabilities of depository institutions
for monetary policy purposes only. An institution
maintains reserves to satisfy its reserve requirements
either as cash in its vault or in the form of a balance in
an account at a Federal Reserve Bank.
Further information on reserve requirements is
available on the Reserve Requirements section of the Board of
Governors of the Federal Reserve System Web site.
How can I reclaim a lost or abandoned bank account?
First, if possible, contact the financial institution
where you opened the account. If the institution no longer
exists, contact your state banking agency
. Provide the
agency with as much detail as possible, including the
financial institution's name, the account number, and the
exact name(s) on the account.
What is a routing number and where can I get information
about valid routing numbers and the financial institutions
to which they have been assigned?
A routing number (also called an "ABA number," a "routing
transit number," or a "transit number") is a nine-digit
number that identifies an institution and the region in
which the institution is located. Routing numbers
commonly appear in the lower left-hand corner of a
personal check. Routing numbers are assigned by the
Official American Bankers Association Registrar of Routing
Numbers and are not assigned by the Federal Reserve.
You can get information on purchasing a copy of the
American Bankers Association Key to Routing Numbers from
the American Bankers Association, or you can consult with
your bank to determine to whom a routing number has been
assigned and whether the routing number is valid.
How can I file a consumer complaint about a bank?
The Federal Reserve urges you to file a complaint if you
think a bank has been unfair or misleading, discriminated
against you in lending, or violated a federal consumer
protection law or regulation. You can file a complaint
online through the
Federal Reserve's Consumer Complaint
You can also call or email
Reserve Consumer Help, the System's central
repository for consumer complaints and inquiries, and they
will walk you through the process of filing a complaint
and answer any questions you might have.
Although the Federal Reserve looks into every complaint
that involves banks it regulates, it does not have the
authority to resolve every problem. There are several
federal agencies who handle complaints about banks and
other financial institutions, so the Federal Reserve may
connect you with or forward your complaint to another
Where can I find the FR-Y6 form?
Form FR Y-6 ("Annual Report of Bank Holding Companies"),
together with the instructions for completing the form,
can be found on the "Reporting Forms" section of the
Board of Governor's Web site.