RICHMOND — The State Corporation Commission (SCC) received and resolved more than 13,250 complaints involving regulated industries during 2011 resulting in more than $220 million in refunds, credits, or restitution to Virginians.

In conjunction with the 14th annual National Consumer Protection Week March 4-10, 2012, the SCC reminds Virginians that it stands ready throughout the year to answer inquiries, handle complaints, and provide information and assistance regarding those industry sectors over which it has regulatory responsibility.

Whether you are shopping for a mortgage or other loan, comparing insurance policies, planning for retirement, or reviewing your phone or electric bill, it is important to know how to protect your interests and where to turn should a problem arise.

The SCC oversees insurance, state-chartered financial institutions, securities, franchises, and investor-owned utilities (electric, natural gas, water, sewer, and telecommunications). It provides information and assistance to help consumers make informed choices and file a complaint if they are not satisfied with responses they receive from regulated industries. It offers numerous consumer guides and other information on a variety of topics and has specially trained staff who can assist consumers with their questions and concerns about regulated individuals and entities.

Just a few of the many ways the SCC helped consumers during 2011 include: facilitating payments by insurance companies for claims that were improperly denied; recovering monies improperly charged on loan transactions and securities offerings; ensuring that utilities provide reliable service and respond promptly to any customer billing issues; reaching out to Virginians before and after disasters; and much more.

“It pays to be an informed consumer and know how to spot fraudulent offers, unnecessary fees, and unsuitable financial products,” said Ron Thomas, director of the SCC’s Division of Securities and Retail Franchising. “The SCC is a valuable resource for people who want to protect their financial well-being and find legitimate products and services that suit their particular needs,” he said.

“Our consumer services operations are an integral part of the SCC’s overall mission,” said E.J. Face Jr., Virginia Commissioner of Financial Institutions. “We can help consumers arm themselves with the information they need to successfully navigate today’s increasingly complex marketplace,” he said.

“We encourage consumers to work with the regulated company or individual, should a problem arise. Contact the appropriate SCC division by phone, mail, or e-mail using the online complaint form if you are still not satisfied,” said Insurance Commissioner Jacqueline K. Cunningham. “Take advantage of the many resources available to you including our knowledgeable staff and the many consumer publications we offer,” she said.

“Consumers should check their telephone bills and question any charges they do not understand,” said William Irby, director of the SCC’s Division of Communications. “If your telephone company is not able to explain it to your satisfaction, we can help,” he said.

When securing products and services, the SCC encourages consumers to shop around and compare prices, terms, and features. It also recommends that consumers thoroughly evaluate any offer, keep written records of all transactions, and verify that an individual or company is licensed or registered with the SCC.

The SCC can assist consumers who have complaints regarding regulated entities. It encourages consumers to complete a written complaint form relating to their specific area of concern. The complaint process and forms are available by going to the SCC website at www.scc.virginia.gov and clicking on the appropriate division.

For more information, call the SCC toll-free in Virginia at 1-800-552-7945 or contact the following divisions:

• Bureau of Insurance – (804) 371-9741
• Bureau of Financial Institutions – (804) 371-9657
• Division of Securities and Retail Franchising – (804) 371-9051
• Division of Energy Regulation – (804) 371-9611
• Division of Communications – (804) 371-9420

In the event the SCC does not have regulatory authority over a particular firm, individual, or product, its staff will assist consumers by referring them to the appropriate local, state, or federal authority for assistance. These may include the Attorney General’s office, local consumer protection office, Better Business Bureau, or the Federal Trade Commission’s toll-free helpline at 1-877-FTC-HELP (382-4357).

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