Consumers register fewer complaints to Florida banking authorities in 2013

 

icordle@MiamiHerald.com

As the ecomomy picks up, consumers registered fewer bank-related complaints in Florida in 2013, compared to each of the previous five years, according to a report released Monday by K.H. Thomas Assoc. of Miami. In fact, the 885 complaints registered by Florida’s Division of Financial Institutions in 2013 represents a more than 50 percent decline from the peak complaint year of 2009.

Complaints about mortgages topped the state’s list, representing 31 percent of the total. Complaints about account balance disclosures ranked second with 26 percent of the total, and general loan complaints came in third with 11 percent of the total, K.H. Thomas’s report showed.

Bank of America, the largest bank in the state, with a 16.9 percent deposit share, also had the most complaints, or 11.7 percent of all complaints.

For the first time, the report also analyzed a national database of complaints, which showed 10,513 complaints came from Florida. Those complaints were divided 60/40 between banks and credit unions, the report said. The two largest banks in Florida, Bank of America and Wells Fargo, represented 30 percent of all complaints. SunTrust registered the least amount of complaints in both the state and national databases, in a market-weighted analysis, according to the report.

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