Grades are also broken down by the financial products offered be each institution. Morgan Stanley is rated "A-" in Mortgages, and "A" in Bank Account Services. Click on any of the financial products to see how Morgan Stanley compares.
Morgan Stanley has received 201 consumer complaints since January, 2012 – more than 95% of other banks.
Of those complaints, 95.5% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Morgan Stanley meets the 60-day response deadline less frequently than 67.2% of other banks.
After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 25.4% of customers dispute Morgan Stanley's response to complaints — worse than 80.8% of other companies.
Most of Morgan Stanley's customers complain about mortgages with the primary issue being "loan modification,collection,foreclosure."
Morgan Stanley is primarily a commercial bank with no specific specialization. Morgan Stanley is based in Salt Lake City, Utah and is the 14th 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, Morgan Stanley receives far more complaints than most other banks. Morgan Stanley recieves more complaints per customer than 97% 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||55|
|2||Mortgage||Other mortgage||Loan servicing, payments, escrow account||25|
|3||Mortgage||Conventional adjustable mortgage (ARM)||Loan modification,collection,foreclosure||17|
|4||Mortgage||Conventional fixed mortgage||Loan modification,collection,foreclosure||12|
|5||Mortgage||Conventional adjustable mortgage (ARM)||Loan servicing, payments, escrow account||11|
|6||Mortgage||Conventional fixed mortgage||Loan servicing, payments, escrow account||9|
|7||Mortgage||Home equity loan or line of credit||Loan servicing, payments, escrow account||7|
|8||Bank account or service||Other bank product/service||Account opening, closing, or management||7|
|10||Mortgage||Other mortgage||Application, originator, mortgage broker||6|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||174||167 (96%)||49 (28.2%)|
|2||Closed with non-monetary relief||14||14 (100%)||1 (7.1%)|
|3||Closed without relief||13||12 (92.3%)||3 (23.1%)|
|4||Closed with monetary relief||9||8 (88.9%)||1 (11.1%)|
|5||Closed||4||4 (100%)||1 (25%)|
|6||In progress||3||3 (100%)||0 (0%)|