Regulation AA

DEFINITION of 'Regulation AA'

A regulation designed to address practices by banks that are perceived as unfair by consumers. Regulation AA establishes the procedures used to process complaints registered by bank customers. This regulation applies to state member banks only.

BREAKING DOWN 'Regulation AA'

Regulation AA was created in response to numerous consumer complaints that were not being addressed in an orderly manner. Consumers who have complaints about their bank should send them to the Director of the Division of Community Affairs at the Board of Governors in Washington, DC.