The bank charges excessive fees for managing our trust account. What can we do?
Generally, Federal banking laws and regulations do not govern the nature or amount of compensation that may be paid to national banks acting as trustees.
If the amount of a national bank or federal savings association’s compensation is not set or governed by applicable law (state law, court order or trust agreement) the bank may charge a reasonable fee for its services.
We don’t believe the bank is properly managing our trust account. Can the OCC help?
The administration of trust accounts by national banks and federal savings associations is governed by Federal law, the trust instrument, and State law. Complaints related to fiduciary activities require a review of the governing instrument and all applicable laws. You should contact your bank fiduciary first, as it is most likely to have the information needed, including the terms of the governing instrument, about how it is managing your account. If the bank is not able to resolve your concern, the OCC’s Consumer Assistance Group (CAG) may be able to provide informal guidance regarding applicable federal banks laws.