Tier 1 complaints represent the highest level of severity.
- These complaints include violations of regulatory compliance (state and federal or governmental regulation)
- Bank Secrecy Act (BSA),
- Unfair, deceptive, or abusive acts and practices (UDAAPs),
- inaccurate, incomplete, or unauthorized transactions;
- violations of consumer protection-related laws or regulations;
- a deviation from the Quontic Bank compliance-related policies and procedures;
- legal action against the bank, employees’ misconduct, and data breaches.
Examples of Tier 1 complaints include:
- Regulatory complaints (Examples include OCC, FDIC, and CFPB)
- BBB, Attorney General, NYFDS
- Allegation of unfair, deceptive, or abusive act or practice
- Allegation of fraudulent activity
Tier 1 complaints are managed by Quontic’s Compliance Department.
The SVP/DBO will provide the facts and formal response.