- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-12-08T14:09:00
Atlantic Union Bank agreed to pay $6.2 million as part of a settlement with the Consumer Financial Protection Bureau (CFPB) resolving allegations the bank illegally enrolled and misled customers in its checking account overdraft programs.
Atlantic Union Bank was fined $1.2 million and must pay at least $5 million in redress to thousands of affected consumers, the CFPB announced in a press release Thursday.
Between January 2017 and November 2020, Atlantic Union Bank obtained improper consent to enroll customers in its overdraft coverage, according to the CFPB’s order. Branch employees did not print written overdraft notices for new customers until the end of the account-opening process, instead initially relying on oral affirmation, the agency alleged.
2024-11-08T19:40:00Z By Aaron Nicodemus
Navy Federal Credit Union will pay a $15 million fine and return $80 million in “surprise” overdraft fees to its members to resolve an enforcement action from the Consumer Financial Protection Bureau.
2023-11-29T20:19:00Z By Aaron Nicodemus
Bank of America will pay a $12 million penalty for allegedly reporting false mortgage lending data to the federal government, under a settlement reached with the Consumer Financial Protection Bureau.
2023-11-20T18:53:00Z By Kyle Brasseur
Toyota Motor Credit Corp. agreed to pay $60 million as part of a settlement with the Consumer Financial Protection Bureau addressing allegations of illegal lending and credit reporting misconduct.
2025-07-02T18:31:00Z By Aaron Nicodemus
Emerging enforcement priorities of the U.S. Department of Justice’s health care fraud division align with the Trump administration’s emphasis on prosecuting transnational criminal organizations and ending opioid trafficking.
2025-07-01T23:26:00Z By Oscar Gonzalez
Since President Donald Trump took office, the U.S. Federal Trade Commission has yet to keep up the level of enforcement it had under previous chair Lina Khan. The agency, however, returned to antitrust action in the case of fuel stations, just in time for the July 4th holiday.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
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