Complaints
This profile includes complaints for The Federal Savings Bank's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 62 total complaints in the last 3 years.
- 19 complaints closed in the last 12 months.
If you've experienced an issue
Submit a ComplaintThe complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.
Initial Complaint
Date:06/07/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
On tuesday, 6/4/2024 i was told i had to pay a closing deposit, which was really for an appraisal. I wasnt willing to pay 7.25% in interest, so i cancelled everything. Yesterday on 6/5/2024 I requested a refund and was told that fees would be deducted from my deposit. I paid for a service that didnt happen and got a pitiful fraction of the amount I paid:
Business Response
Date: 06/13/2024
Please see attached.Initial Complaint
Date:05/29/2024
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I was contacted by phone by a third party that represented themselves a **************** that offers VA home loans and refinancing. That operator then transferred me to a mortgage broker who spoke with me and got all my info. I was told I would need to pay an appraisal fee of almost $500 upfront to the Federal Savings Bank before my application that I submitted would be approved. That didnt make sense to me. Nowhere in the documents does it call the fee an appraisal fee or say who will be doing the appraisal. When I asked why there is no preapproval before paying this fee I was told that how refinancing works. I have uploaded all my private financial and identifying documents already and feel like its just a scam to get the money. I listened to my gut and went to the BBB site and can see at least 84 complaints all regarding this same issue with appraisal fee. I contacted the broker and he keeps assuring me its not a scam but has not told me how my private documents and info will be disposed of now that I am not trusting this company to proceed. I had an inquiry on my credit reports already and they havent provided me with any approval or denial yet. I want all inquiries removed from my credit report and all my documents destroyed and deletedBusiness Response
Date: 06/07/2024
Please see attached.Customer Answer
Date: 06/07/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
***************************Initial Complaint
Date:05/14/2024
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
A scam institution pretending to be a bank targeting service members to trick them into refinancing. They hide their scam letters to appear as checks in the mail. I have spoken to them on a recorded line and sent them 4 CEASE AND DESIST NOTICES! They have refused to stop sending me letters. This report is my last attempt to resolve this before taking legal action against this fraudulent joke of a company. If I receive one more solicitation from your company I will be suing.Business Response
Date: 05/29/2024
Please see attached.Customer Answer
Date: 05/29/2024
Your joke of a company has told me on 3 separate occasions that I am on the no contact list and yet I continue to receive mail from you. In the event that I receive another letter I will file a lawsuit and include the in writing statement you made as evidence in court. I highly encourage you look into this and ensure I no longer receive anymore correspondence from your company. This is my last attempt to resolve this outside of a court room.
Complaint: 21706882
I am rejecting this response because:
Sincerely,
***********************Business Response
Date: 06/01/2024
Please see attached.Customer Answer
Date: 06/03/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
***********************Initial Complaint
Date:05/08/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
My wife and I started a refinance with this company in the middle of December 2023. Since then, this company has had a hand in ruining my wife and my credit, which were both over 700 and are now in the low 520's. They would tell us to not pay on some of our bills because they would be cover by our home equity. The only thing they have done, is put a personal loan under our names for about $34,000 and are charging us $800 a month for it. Since then, we haven't heard anything from them.Business Response
Date: 05/14/2024
Please see attached.Initial Complaint
Date:05/04/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
When we refinanced our home we were told if we made 6 payments on time, then our mortgage would drop, by $1,000.00. We have made 9 monthly payments on time and the mortgage still hasnt dropped. When I inquired about this I was told I had to wait for interest rates to drop. During the refinance process we were never informed of any conditions in which the mortgage may not be lowered. Had we known this we would not have refinanced.Business Response
Date: 05/14/2024
Please see attached.Customer Answer
Date: 05/15/2024
Complaint: 21666509
I am rejecting this response because:The below statement from the business did not happen or was not adequately explained. Had it been adequately explained we would have never re-financed.
"The banker that you dealt with explained this process and indicated that interest rates declining was not a guarantee."
Sincerely,
*************************Business Response
Date: 05/29/2024
Please see attached.Customer Answer
Date: 05/29/2024
Complaint: 21666509
I am rejecting this response because:The response was no different then the business' response to my initial complaint. The banker I dealt with did not say anything about interest rates having to drop. The statement that the banker I dealt with explained all this is factually incorrect.
Sincerely,
*************************Initial Complaint
Date:04/18/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I was communicating back and forth daily to an agent about getting a home equity loan. I paid 495 dollars for a home appraisal and was assured that everything is good and I was well on my way to getting the home equity loan I needed. After the appraisal, it came back less than what they expected. The agent said that the next day, there was a meeting about rate on loans and he would contact me after, and told me that currently, it made no sense to get a home equity loan of any amount. The next day I never heard back. I texted the number that I had texted back and forth on many many times, never any answer. Called many times and left multiple messages, no answers. Another agent called me one day about a different thing and I told them I wasn't interested but I told them about this situation and they assured me they would reach out and put it in their system so I would get a call back. That was weeks ago and still nothing. This is ridiculous, I was basically robbed of ****************************************************************************** any communication or anything. The original agent I was speaking to was named *************************, work number of his is ************, mobile is ************. I know they are an actual agent of the company because he gave me his license number that I looked up and it proved he was a licensed agent and worked for this bank.Business Response
Date: 05/07/2024
Please see attached.Initial Complaint
Date:04/09/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
non stop HARRASSMENT *** terrorizing from this rip off scam company i have asked repeatedly to stop harrassing me and stop terrorizing me with their scam fraud mailings but they continue after being contacted to harrassingBusiness Response
Date: 04/30/2024
Please see attached.Initial Complaint
Date:03/13/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I was purchasing a home from this company and so many things went wrong, they were so unhelpful and did awful things like doing stuff and calling my bank and employer without even telling me. Now I am so frustrated because they promised me all this stuff with my loan and as soon as I closed (3 weeks past time) then they sale my loan to another company without even telling me. Then I open the mail box last week with all these past notice bills, alerts, etc and I call one of them and it's a bunch of home warranty crap? Coming from the mortgage place as a final notice? Then there was others saying I needed to pay my bill which I thought I did and after 15 mins on the phone for nothing turns out I paid my bill but the mail thing didn't catch it in time. Talk about a heart attack. This is all after a horrible underwriting experience! Just when will it end with these guys.Business Response
Date: 03/22/2024
Please see attachedInitial Complaint
Date:03/12/2024
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I am a 100% disabled Veteran and was trying to refinance my home to pay off some bills and purchase a boat for my grandson. I was contacted by The Federal Savings bank via an inquiry through lending tree. At this time, I knew nothing about the ***** program. After speaking to a loan advisor at the bank, I was offered a ***** loan. I was also offered +/- $17,000 in cash out. After applying for the loan, I was told that we had to wait 210 days from the last closing date to complete the loan. Then, I was told that it was 210 days from the collection of the first payment. (I found out later it was the latter of the two.). The boat owner finally gave up and moved on, so I was unable to secure the boat in time for the big spring tournament. Next, I was contacted by several other lenders who told me that you can not receive money from a VA approved ***** program. All the while, I was discouraged by the loan officer that they (the other lenders) were probably misrepresenting themselves and actually offering a HELOC or other sort of loan. In a VA ***** loan, you do not need an appraisal or proof of income. I paid for the approved appraiser and put the remaining money into finishing out projects that totaled over $4000 to be able to secure the loan. It was, I later found out, FSB that was misrepresenting themselves by offering me an ***** loan, and knowingly prevented me from reaching out to other lenders, telling me that I could take cash out and we just needed to wait for a rate lock to make sure the underwriter made enough money to offer the loan. I have already lost the boat, have no loan, and my cash reserve is depleted. I see no reason now why to continue the loan process. I also intend on informing the VA regarding the FSBs misrepresentation of the ***** loan. I have also spoken to an attorney about seeking out possible damages.Business Response
Date: 03/22/2024
Please see attached.Customer Answer
Date: 03/22/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
************************************Initial Complaint
Date:03/08/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
We were promised a refund of $495.00 to our credit card for a home appraisal that never occured. We were told 7 to 10 business days for the refund. We still have not receieved the our monies. Our contact will not respond to us.Business Response
Date: 03/22/2024
Please see attached.
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