Fifth Third Bank, National Association need not look hard to understand the legal and regulatory trouble it could be in if allegations brought by the Consumer Financial Protection Bureau hold true.
A complaint filed Monday by the CFPB in federal district court in the Northern District of Illinois alleges Fifth Third engaged in many of the same unauthorized accounts practices that continue to plague embattled megabank Wells Fargo. According to the CFPB’s allegations, Fifth Third for several years and without consumers’ knowledge or consent:
