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It is important to be able to know how to investigate a bank.  There are many things you should know  about before you either accept a loan or put your money there:
  1. Are they really loaning you "their" money, or someone else's money?
  2. What is their financial condition?

Here is a trail for a Bank in Michigan. This is quick, easy, and most helpful to find out WHO is the bank and WHAT can the bank do or NOT DO. We have found the banks are not listed in docs much by the feds, however the Banks HOLDING Company's are. The banks Holding Company is the parent co that has all the associations, incorporations, by-laws, oaths, directors, etc. Go to these and use this as a reference to find out some info on a bank of your choice.

1.  FDIC Search Page:

2.First page of Bank searching:

3. RC-B Sheet
I am sorry but I have a home equity loan with these folks yet under section 5 they are not reporting having ANY HOME EQUITY loans. What is this all about your honor? It does however state they are serving loans for others. Who are these others? I was not told this. They told me they gave me THEIR money. It shows they do have loans issued FOR OR ON BEHALF OF FNMA GNMA or FNMA and FHLMC. How nice.

4. NIC for Federal Reserve for the complete description of Institution:

5. RC-S Sheet:
This one they admit to being SERVICERS for others. Who are the others and do the customers know this? False advertising or maybe deceptive trade pratices come to mind. Also will prove that BANK is really a debt collector hence Fair Debt Collection Pratices Act DOES apply!!!!

7. Condition and Income Report, Thrift Financial Report (FDIC):
Now this page makes sense now since they are ONLY ACTING in a fiduciary capacity. (servicers)

I know the OCC will send you the BANK HOLDING COMPANY'S Articles of Association and By-Laws to prove what this specific bank can and can NOT do. We are getting this info back when a FOIA or Privacy Act is done on the Holding Co and not the bank to the OCC.

Copyright Family Guardian Fellowship

Last revision: April 03, 2009 07:52 AM
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