FM Bank on Your Credit Report
In short: FM Bank is a state-chartered bank that is not a member of the Federal Reserve System, supervised by the FDIC and its state regulator headquartered in Waseca, Minnesota. The charter behind FDIC certificate 10998 dates to January 1, 1878 — a nineteenth-century charter, which means its paper records long predate electronic furnishing and conversions have had decades to introduce artifacts. As of the 06/30/2026 call report, FM Bank held $738 million in assets and operated 6 FDIC-reported offices. FM Bank is the furnisher of record on accounts it originates, so both the §623 route to the bank and the §611 route through the bureaus are open to you. Information that is inaccurate, incomplete, or unverifiable can be disputed under the FCRA. Outcomes depend on what the furnisher can verify, and results vary.
Who FM Bank actually is
Charter details above are from the FDIC BankFind public database.
What makes this creditor different
FM Bank holds FDIC certificate 10998, reporting $738 million in assets across 6 FDIC-reported offices from Waseca, Minnesota, on the 06/30/2026 call report.
How FM Bank appears on your credit report
FM Bank furnishes the tradeline itself, so a §623 dispute goes to the party that can actually check the record. At $738 million in assets across 6 offices, FM Bank is small enough that the originating branch in Waseca may still hold the physical file. Identify the account by last four digits and open date, name the single disputed field, and send the bureau dispute at the same time. Results turn on what the file shows.
Names it may report under
Products that commonly show up
- ◆Consumer and installment accounts originated across its 6 Minnesota offices
- ◆Mortgage and home-equity credit originated in its Minnesota market
- ◆Deposit-account overdraft balances referred for collection
Grounds to dispute a FM Bank entry
Each of these is a reason a FM Bank tradeline may be inaccurate or unverifiable. None of them assures removal — they are the angles worth checking on your own report.
- ◆Autopay drafted on schedule but posted late to the FM Bank ledger
- ◆Charge-off date advanced on the FM Bank tradeline after the account closed
- ◆Same FM Bank loan reported twice following an internal transfer
- ◆Account balance or credit limit reported incorrectly
- ◆Payment reported late when it was made inside the grace period
- ◆Date of first delinquency re-aged to extend how long it can report
- ◆Account still reporting as open after it was closed, or vice versa
- ◆Duplicate tradeline for the same account after an internal transfer
- ◆Account belongs to someone else with a similar name, or is the result of identity theft
Disputing an original creditor is not the same as disputing a collector
FM Bank is an original creditor — the institution whose name was on the account when it was opened. That matters for two reasons. First, the FDCPA, which governs debt collectors, generally does not apply to a creditor collecting its own debt in its own name, so the “debt validation” request that works against a collection agency is not the right tool here. Second, as the furnisher of the tradeline, FM Bank has direct obligations under FCRA §623 to investigate a dispute you send it and to correct or delete information it cannot verify as accurate.
Dispute with the bureaus — FCRA §611
File with Equifax, Experian and TransUnion. They must generally investigate within 30 days and tell the furnisher. Free, and you can do it yourself.
Dispute with the furnisher — FCRA §623
Send FM Bank a direct written dispute. It must investigate and must not continue reporting information it knows is inaccurate. Keep copies and proof of delivery.
FM Bank questions, answered
Is FM Bank FDIC-insured, and what is its certificate number?
Yes — deposits are FDIC-insured under certificate 10998. That record lists FM Bank as a state-chartered bank that is not a member of the Federal Reserve System, supervised by the FDIC and its state regulator headquartered in Waseca, MN, chartered January 1, 1878, with $738 million in assets across 6 FDIC-reported offices on the 06/30/2026 call report.
Who regulates FM Bank, and where do I escalate if a dispute fails?
As a state-chartered bank that is not a member of the Federal Reserve System, supervised by the FDIC and its state regulator, FM Bank answers primarily to that regulator. Where a §611 and a §623 dispute both come back verified against documentation you hold, escalate to the CFPB, and note that FCRA §§616–617 create a private right of action. You do not need to hire anyone to take either step.
How many credit-card complaints does the CFPB show against FM Bank?
No number is published here. When we queried the CFPB credit-card complaint data, no company key matched FM Bank exactly, and we will not approximate one by partial-name matching — that routinely pulls in unrelated companies with similar names. Rather than imply a count we cannot source, we leave it out. The database is public and searchable at consumerfinance.gov.
How long can an FM Bank charge-off stay on my credit report?
The FCRA ceiling is roughly seven years measured from the date of first delinquency on the FM Bank account. Charging the balance off, selling it, or moving it to another servicer does not restart that clock. If the date of first delinquency moves forward, that is re-aging — itself an FCRA violation worth disputing.
What is the difference between disputing with FM Bank and disputing with a collector?
FM Bank is the original creditor and holds the underlying file — application, statements, posting history. Collectors typically receive a data file, not the original paperwork. Disputing directly with FM Bank under §623 puts the question to the party that can actually check it.
Does FM Bank report to all three credit bureaus?
There is no legal requirement to report to every bureau, and banks this size often do not. Compare all three files first. With FM Bank, a varying balance usually reflects different refresh dates; a varying account status or date of first delinquency is the real signal.
FM Bank was acquired or changed names — why does my report show two accounts?
A single account showing twice is a classic conversion artifact. FM Bank has operated since 1878, and charters that old have usually been through at least one core-system migration. One account may legitimately appear under a predecessor name, but the same debt must not report twice with two balances. Dispute the duplicate and name both tradelines.
Can I dispute an FM Bank account myself without paying anyone?
Yes. Both the §611 bureau dispute and the §623 direct dispute to FM Bank are free and available to you directly. No company can do anything for you that you cannot do yourself, and nobody can lawfully promise a specific result. Anything accurate and timely stays on the report.
Where is FM Bank headquartered, and does that affect my dispute?
FM Bank is headquartered in Waseca, Minnesota, with 6 FDIC-reported offices. Headquarters does not change your federal rights — the FCRA applies the same way everywhere — but it does tell you which state banking regulator shares oversight, which matters if you escalate past the CFPB.
Other creditors on credit reports
This page is general information about consumer rights, not legal advice, and does not create an attorney-client relationship. Crowned Credit is not affiliated with, endorsed by, or sponsored by FM Bank; company names are used only to identify the institution a consumer may see on a credit report. Crowned Credit does not promise any particular outcome; results vary by individual circumstances and by what a furnisher is able to verify. Accurate, verifiable information generally cannot be removed from a credit report. You have the right to dispute inaccurate information yourself, for free, directly with the credit bureaus and with the furnisher.
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