- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2022-11-02T16:03:00
U.S. Bank disclosed Tuesday the Consumer Financial Protection Bureau (CFPB) launched an investigation into the bank’s administration of unemployment benefits during the Covid-19 pandemic.
According to its quarterly report filed with the Securities and Exchange Commission, U.S. Bank said it is under investigation by the CFPB regarding “the company’s administration of unemployment insurance benefit prepaid debit cards during the pandemic timeframe.” The bank offered no other information on the investigation, and through a spokesperson, declined to comment further. In its disclosure, the bank noted it is “cooperating fully with all pending examinations, inquiries, and investigations.”
A CFPB spokesperson could not confirm or deny the existence of a pending investigation because that information is confidential.
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2023-12-19T20:45:00Z By Kyle Brasseur
U.S. Bank agreed to pay nearly $36 million total in separate settlements with the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency for allegedly impeding consumers’ access to their unemployment benefits during the Covid-19 pandemic.
2022-12-20T18:44:00Z By Aaron Nicodemus
Wells Fargo will pay a total of $3.7 billion to address “widespread mismanagement” of auto loans, mortgages, and deposit accounts as part of a settlement with the Consumer Financial Protection Bureau.
2025-05-22T15:46:00Z By Adrianne Appel
The Securities and Exchange Commission has charged cryptocurrency company Unicoin, three top executives, and its general counsel with defrauding investors of $110 million by selling them bogus “rights certificates” in a future cryptocurrency coin.
2025-05-22T14:37:00Z By Aaron Nicodemus
The Federal Trade Commission has ordered web hosting company GoDaddy to implement a “robust” information security program following at least three data breaches that the agency said were aided by lax cybersecurity measures.
2025-05-20T12:30:00Z By Oscar Gonzalez
The U.S. Federal Trade Commission (FTC) took action against a pair of student loan debt relief companies for allegedly deceiving borrowers. The move came despite the Trump administration’s broader efforts to roll back enforcement actions against businesses since taking office.
2025-05-16T19:24:00Z By Oscar Gonzalez
After dismissing its lawsuit against the crypto exchange Coinbase in March, a second investigation into the exchange by the Securities and Exchange Commission has surfaced, according to a report from the New York Times. This comes as a bit of a surprise after the Trump administration has been scaling down ...
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