Grades are also broken down by the financial products offered be each institution. CIT Bank is rated "A" in Debt Collection, and "A-" in Bank Account Services. Click on any of the financial products to see how CIT Bank compares.
CIT Bank has received 22 consumer complaints since March, 2014 – more than 77% of other banks.
Of those complaints, 100% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' CIT Bank meets the 60-day response deadline more frequently than 71.2% of other banks.
After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 22.7% of customers dispute CIT Bank's response to complaints — worse than 70% of other companies.
Most of CIT Bank's customers complain about mortgages with the primary issue being "loan modification,collection,foreclosure."
CIT Bank is primarily a commercial bank with a commercial lending specialization. CIT Bank is based in Salt Lake City, Utah and is the 50th largest FDIC insured bank in America.
Naturally larger banks receive more customer complaints than smaller ones. This does not necessarily indicate that a bank is better than another in terms of service and customer support.
However, even after adjusting for bank size and number of customers, CIT Bank receives far more complaints than most other banks. CIT Bank recieves more complaints per customer than 96% of other banks – customers are significantly more likely to file complaints than customers of most other banks.
|#||Financial Product||Sub-Product||Complaint Issue||Complaint Count|
|1||Mortgage||Other mortgage||Loan modification,collection,foreclosure||3|
|2||Bank account or service||(CD) Certificate of deposit||Account opening, closing, or management||3|
|3||Bank account or service||Savings account||Account opening, closing, or management||3|
|4||Debt collection||Other (phone, health club, etc.)||Taking/threatening an illegal action||2|
|5||Debt collection||Other (phone, health club, etc.)||Cont'd attempts collect debt not owed||2|
|6||Bank account or service||Other bank product/service||Account opening, closing, or management||2|
|7||Debt collection||Credit card||Taking/threatening an illegal action||1|
|8||Bank account or service||(CD) Certificate of deposit||Deposits and withdrawals||1|
|9||Debt collection||Credit card||Cont'd attempts collect debt not owed||1|
|10||Debt collection||Credit card||Disclosure verification of debt||1|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||22||22 (100%)||5 (22.7%)|
|2||Closed||5||5 (100%)||1 (20%)|