Learn your options to get your voice heard and make Marcus Bank pay
So you have a complaint against Goldman Sachs’s banking, mortgage, investing, or credit card services (or a complaint against one of its subsidiaries such as Marcus)—maybe they’re overcharging you, or a salesperson misled you, or their service isn’t what they promised.
At this point, you’ve probably tried calling Goldman Sachs’s customer service. You’ve spent hours on the phone with hold messages, computerized menus, and—if you’re lucky—a few humans. So now you want to know:
FILE A CLAIM AGAINST GOLDMAN SACHS IN SMALL CLAIMS COURT
What is it? You’re not allowed to bring a claim against Goldman Sachs in most courts (it’s true — it’s there in the fine print of your contract with them). But the exception is small claims court, which is an opportunity to bring your claim locally before a judge, up to a certain monetary limit. Small claims courts are only for certain types of claims, so your first step is to make sure your claim can be filed. There are a few things you need to pay attention to:
Claim Limits: Most small claims court limits range from $2,500 to $10,000 so if your claim is more than the amount your state allows you may not be able to file your case in small claims court.
Court Fees: Small claims court fees generally vary depending on the amount you claim against Goldman Sachs.
The type of relief: There are two types of awards that you can seek in a lawsuit – monetary (a dollar value payment) and equitable (any non-monetary request). Most small claims courts can only grant monetary awards.
When to try it: You have time and energy on your hands, and you want the chance to make your case against Goldman Sachs in public.
What you need to do: Locate your local small claims court and follow the steps laid out by the small claims court online to learn how to file a small claims court suit. Each small claims court has its own procedure. Filing a small claims court lawsuit tends to be simpler than the regular lawsuit process.
What to expect: If you follow all the steps precisely and have a strong claim against Goldman Sachs, there’s a good chance you’ll get compensation. Additionally, Goldman Sachs may even offer you a settlement in exchange for dropping the civil suit against them.
See a similar guide on suing a financial institution in small claims court here.
FILE A COMPLAINT AGAINST GOLDMAN SACHS WITH THE CONSUMER FINANCIAL PROTECTION BUREAU
What is it? The Consumer Financial Protection Bureau (“CFPB”) is a federal government agency that regulates much of Goldman Sachs’s business. The CFPB provides an informal channel for consumers to submit claims and complaints against Goldman Sachs.
What happens to these claims depends on the internal procedures of the CFPB. You can find more information about these procedures here.
When to try it: You’re frustrated with Goldman Sachs and want to make your complaint available to the government and the public. A CFPB complaint is generally not a way to pursue compensation.
What you need to do: File an informal complaint on the CFPB’s public website by following the instructions here.
What to expect: Your complaint will be posted online in a public database. It may be used in setting the CFPB’s priorities for regulating companies like Goldman Sachs. The company may be asked to respond to it. You will not necessarily receive an individual response.
FILE A BETTER BUSINESS BUREAU COMPLAINT AGAINST GOLDMAN SACHS
What is it? The Better Business Bureau (“BBB”) and its local chapters are private organizations that collect and publish complaints against a wide range of companies. They are mainly funded by affiliate fees from businesses and usually offer these businesses an opportunity to respond to consumer complaints.
When to try it: When Goldman Sachs’s BBB page shows that it is actively involved in responding to complaints. Or, alternatively, when you want another way to get your dissatisfaction out there on the internet.
What you need to do: Go to Goldman Sachs’s BBB profile here and follow the instructions for submitting a complaint.
What to expect: This depends on whether the company actively responds to its BBB complaints. If it does, you may receive a response directly from them, or via the BBB. You may be asked for further documentation or clarification on your complaint. Ultimately, it is up to Goldman Sachs whether they choose to acknowledge and offer compensation for your claim.
FILE A COMPLAINT AGAINST GOLDMAN SACHS THROUGH INDEPENDENT ARBITRATION
What is it? Remember that thing about the small print of your Goldman Sachs contract? Well instead of filing a claim before a court, what their contract allows you to do is to file a claim that will be argued before an independent individual called an arbitrator (p.s. their contract also prevents you from filing a class action lawsuit).
Because this process costs Goldman Sachs money, often they’ll try to settle your claim once you put them on notice that you plan on taking them to arbitration. That’s what FairShake can help with!
When to try it: Any situation in which you believe Goldman Sachs has misled you, violated their contract with you, or violated the law can be pursued through arbitration. Typically claims involve a specific request for how Goldman Sachs can fix the situation, which may include financial compensation. FairShake will help you pursue claims up to $10,000.
What you need to do: Fill out our form below to start your claim against Goldman Sachs.
What to expect: For more details about arbitration, click here. Or start your claim below and let us help!
(For a list of companies we process complaints against, start here.)
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