Consumer complaints about banks around South Florida increased by 21% during last year, in spite of an overall decline statewide, which was revealed on Wednesday. The most common issue included account disclosures, which is pursued by mortgage and loan issues.
The Florida Bank Complaint Analysis which was made by Miami-based economic experts and autonomous banking consultant, Ken Thomas reveals, regulators are mostly hearing about customer dissatisfaction with the financial transaction of South Florida’s banks.
Thomas added that they still are suffering from a brutal housing problem and the housing crisis has become the big issue in Florida. He made his financial analysis with the help of various data provided by the Florida Division of Financial Institutions. He said that they are the ground zero in case of housing crisis, as well as most of the people still suffering from the issues about working with banks, foreclosures and loan modifications.
In most of the cases, customers blocked 1,231 complaints in the state about Florida financial institutions during 2011, which is less by 11% as compared to 2010, according to improving economic climate improved.
Still in some of the countries like; Miami-Dade, Broward, Monroe counties and Palm Beach, large number of complaints came about 149 during 2010 and 180 during 2011. Miami-Dade got just like the lion’s share, which was 110 during 2011; it was followed by another company Broward, of 40 as well as Palm Beach of 30. Monroe did not get any more complaint in 2011, which were 2 in 2010.
A report says that out of 20 largest retail banks, only 2 banks are aloof from grievances and complaints in Florida which were; City National Bank of Florida and Northern Trust.
The CEO and President of City National Bank, Jorge Gonzalez said that they provide a level of service, which is generally, cannot be found in other industries. He added that the outputs of the particular study are the clear reflection of their service model. Moreover, they are enough stronger, and can give you every kind of financial services as per your requirement in an easy and quick way.
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