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2018 Tennessee Code
Title 45 - Banks and Financial Institutions
Chapter 1 - Department of Financial Institutions
Part 3 - Bank Customer Dispute Resolution Act of 1981.
§ 45-1-303. Decision to intervene discretionary with commissioner.
Universal Citation:
TN Code § 45-1-303 (2018)
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Upon receipt of a complaint, the commissioner shall determine whether mediation or arbitration is appropriate; however, the commissioner's decision not to resolve a complaint shall not be reviewable, and the commissioner shall not resolve a complaint unless the customer and the bank both agree to the resolution. The commissioner shall consider the amount of money in dispute, the complexity of facts and law, the ability of the customer to obtain judicial relief, and other matters that may be relevant to determine whether a dispute appropriately may be resolved by the commissioner's mediation or arbitration. The commissioner, however, shall not resolve through arbitration a complaint involving more than seven hundred fifty dollars ($750).
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