By Kyle Brasseur2023-12-19T20:45:00
U.S. Bank agreed to pay nearly $36 million total in separate settlements with the Consumer Financial Protection Bureau (CFPB) and the Treasury Department’s Office of the Comptroller of the Currency (OCC) for allegedly impeding consumers’ access to their unemployment benefits during the Covid-19 pandemic.
Both agencies announced fines of $15 million against U.S. Bank on Tuesday, while the CFPB ordered the bank to pay an additional $5.7 million in redress.
From August 2020 through at least March 2021, U.S. Bank had “deficient processes for permitting consumers to regain access to their unemployment benefits in a reasonable timeframe following account freezes,” according to the OCC’s press release.
2024-07-09T20:04:00Z By Aaron Nicodemus
Ohio-based Fifth Third Bank will pay $20 million in penalties to the Consumer Financial Protection Bureau for allegedly opening fake bank accounts and wrongfully repossessing customers’ vehicles.
2024-05-24T17:39:00Z By Adrianne Appel
The Office of the Comptroller of the Currency reached agreements with Lemont National Bank and Comerica Bank & Trust over concerns related to risk governance practices.
2024-05-16T20:03:00Z By Aaron Nicodemus
The Supreme Court rejected a claim that the Consumer Financial Protection Bureau’s funding mechanism is unconstitutional, removing a legal challenge that had the potential to overturn all the agency’s regulations and enforcement actions.
2025-08-21T18:58:00Z By Oscar Gonzalez
The Federal Trade Commission filed a complaint against LA Fitness’ parent companies, citing difficulties canceling memberships, a month after a court blocked the agency’s click-to-cancel rule.
2025-08-20T21:22:00Z By Adrianne Appel
CVS’s Caremark division knowingly overcharged Medicare for prescription drugs and must pay nearly $290 million, a Pennsylvania federal judge has ordered.
2025-08-18T14:12:00Z By Oscar Gonzalez
The owner of a water machine vending company and a portfolio manager were allegedly behind a Ponzi-like scheme that raised more than $275 million, according to the U.S. Securities and Exchange Commission.
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