What are Tier 1 complaints?

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.