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:03/16/2023
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.
Federal savings bank solicited a loan from me which i accepted to pay some bills and improve my home. I then find out recently that it is actually a HELOC with a lien placed on my home. In addition they are reporting the loan TWICE TO THE CREDIT BUREAUS and have not corrected this!!
Business Response
Date: 04/05/2023
Please see attached.Initial Complaint
Date:02/17/2023
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.
Date:12/19/2022 Amount:$14.00 Paying Cook County taxes out of escrow account ******** switched mortgage service companies and the new service company decided to charge a $7.00 Fee for paying my 2 county tax bills. 42 years of having mortgages and this has never happened. I spent a month calling and sending e-mails only to be told that this is a fee from the billing department Loan #**********Business Response
Date: 02/28/2023
See attachedCustomer Answer
Date: 03/01/2023
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:02/08/2023
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.
******************* the vice president shows he doesnt care about your score "Your credit from an inquiry can be effected maybe a few points but nothing significant should change on the score as a result of an inquiry in most cases." He said this because the small points to us that matter is more of an opportunity for them to just get rid of you . The blatant fact he doesnt care shows you your not in good handsBusiness Response
Date: 02/22/2023
Please see attached.Initial Complaint
Date:01/11/2023
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 cold contacted about refinancing my home beginning of September 2022 by *************************. He was very energetic and helpful at first. Assured me time and time again that my loan was on tract to close, and were looking for it to be done by the end of September 2022. That deadline passed, and they needed me to pay them a $494 fee for an appraisal. Again being told nothing was wrong and we would still close by the end of October 2022. Then I had to pay for a termite inspection, another $70. So I paid it. End of October came, still being told I had nothing to worry about. I started asking about the payment for that month as I didnt want a **** on my credit for a late payment. Was told not to worry we are right on track. October 24th, He told me I should go ahead and make the payment. October 26th, he finally tells me there is a problem. I ask about the money I already spent on this. Then the ghosting starts. No answers. Texts, emails, calls, nothing. November passed, December passed. Tried emailing a different person to finally get a message back January 10th. I'm being told I'm out my money because I didn't pay them. Even though my bill stats I paid their bank the money. This company mislead us through the whole process, never once trying to say something was wrong. I could have saved money and time had they just been up front with me. They had all my information income and debt. They were told our whole story, and I provided every document they requested in a timely manner. I would suggest to not trust this company, they will lie to get you to stay with them, take your money, and then not contact you again.Business Response
Date: 01/26/2023
Please see attached.Initial Complaint
Date:01/10/2023
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.
Beware of this deceptive company. They employ shameful, deceitful tactics like sending out deliberately official looking letters making claims that can in no way even be true.They are preying on people, plain and simple.Especially the elderly, as they keep sending my elderly veteran father, documents with VA cash offers, which are in no way affiliated with the actual VA.Im so glad I intercepted this trash and explained the scam to my father, he has *** scammed by other companies utilizing the exact same methods. This company is a Shameful, deceitful organization and from what Ive read of previous comments, even more deplorable in practice (or lack there of.)Business Response
Date: 01/26/2023
Please see attached.Initial Complaint
Date:09/23/2022
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 received a notice from experian that there was a new hard inquiry from ******-CP on behalf of the Federal Savings Bank on my credit report. I called ********'s help line to dispute this as neither I nor my wife authorized a credit inquiry. Through experian I obtained reference number ********, I called the local Federal Savings Bank and spoke with ************************* @ ************ obtained from https://www.thefederalsavingsbank.com/bankers/*************************/I told him about the inquiry and gave him the reference number and it seemed he wanted me to continue my online application that I didn't start.Business Response
Date: 10/07/2022
Please see attached.Initial Complaint
Date:09/01/2022
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 husband and I have been working on a refinance with The Federal Savings Bank on a refinance for our current mortgage. *********************** NMLS#******* has been our loan officer throughout this process. We supposedly closed on our loan over a week ago now and have not received any of our refi money back. Were being told that our loan shows as funded, that a wire is on its way, that checks are being mailed to us, etc. I asked for hard proof of such and ** being told they have none to share with me. We called our pre-existing mortgage company and they have received no communication of a pending payout. ******* and his manager ***** are now completely ignoring our calls and were unable to get ahold of the title company they claim is in charge of the pay out.Business Response
Date: 09/12/2022
Please see attached.Initial Complaint
Date:08/24/2022
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.
In May we were contacted by The Federal Savings Bank with options to refinance, and proceeded to begin the process. Our initial contact was *************************. After a couple weeks were were told that ***** had a death in the family and ************************* would be taking over. ***** then sent us the list of documents we would need to provide in order to proceed. We provided and paid for all documents. Then we were told even though we were providing the appraisal we would have to pay $219 in order to transfer it to them. So we complied. Then for 3 THREE weeks we could not get in touch with anyone. We left messages, sent emails, no response. Last week of July we finally hear from *****. He tells us the underwriter was fired and he is trying to catch up on everything. Assures us to not pay our Aug and Sept payments. We agree. 2 weeks later he sends us a document to sign. Which states we now have to pay over $500 for appraisal. And another amount for termite inspection. Which we already paid for. We question it. And guess what, no response. August 18 we now we have *********************** handling this. Who proceeds to tell us they are waiting on a document that could take 90 days. But the creditors are now calling because our mortgage is past due for August. So we asked for our $219 back and we will just call this done. He informs us he has no record of this. We then ask to speak with a supervisor. He hangs up on us. We then call another number and get supervisors phone number. We have left 4 messages and still no response. They have caused marks on our credit. Literally stole $219 from us, along with an enormous amount of time wasted. Completely unprofessional business.Business Response
Date: 09/19/2022
Please see attached.Initial Complaint
Date:08/05/2022
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 approached about refinancing my home, it all sounded good but I felt uneasy. I never saw any of the disclosures until someone was at my house ready for me to sign. I kept getting told that $80,000 of debt was being wiped away but it was not it was just getting rolled into the mortgage and it was going to cost me more in the long run as I was being charged $20,000 in fees to refinance. I was not even given a copy of the documents that I was signing. After a day I decided I did not want to refinance. I immediately notified them and did not waste any time. I understand it is their job but they continued to pressure me to continue with the process. They even continued processing the loan, even taking out the amount for an appraisal that is not going to happen and then telling me after the fact that it is not refundable. However none of this information was ever disclosed to me or to my wife. There were many things that were not disclosed which is why we felt uncomfortable and decided to not continue the process.Business Response
Date: 08/16/2022
Please see attached.Initial Complaint
Date:07/11/2022
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 07-09-2022 FSB reported my mortgage as being **************************************************************************************************************************************** place and Im getting no assistance to fix this problem.Business Response
Date: 07/21/2022
Please see attached.
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