Ohio-based Fifth Third Bank will pay $20 million in penalties to the Consumer Financial Protection Bureau (CFPB) for allegedly opening fake bank accounts and wrongfully repossessing customers’ vehicles.

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Aaron Nicodemus is the Editor-in-Chief of Compliance Week. He previously worked as a reporter for Bloomberg Law and as business editor at the Telegram & Gazette in Worcester, Mass. Email: aaron.nicodemus@complianceweek.com LinkedIn:...