Search Results: test Banking

CFPB Files Suit Against National Bank Concerning Alleged Unauthorized Accounts

On March 9, 2020, the Consumer Financial Protection Bureau (CFPB) filed a lawsuit against a national bank in the U.S. District Court for the Northern District of Illinois alleging that the bank opened unauthorized accounts and enrolled customers in unauthorized products and services without consumers’ knowledge or consent.  According to the CFPB’s complaint, the…

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DOJ Settles with Indiana Bank for Alleged Lending Discrimination

On June 13, 2019, the Department of Justice (DOJ) announced​ that it filed a complaint​ and settlement agreement ​in the U.S. District Court for the Southern District of Indiana resolving allegations against a Midwestern​ bank based in Indiana.  The DOJ alleged that the bank engaged in lending discrimination through “redlining,” or intentionally avoiding providing services in predominantly…

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Federal Reserve Board Settles With Kentucky Bank for $4.75 Million

On July 26, 2018, the Federal Reserve Board (FRB) announced a multi-million dollar settlement with a Kentucky bank over allegations of unlawful banking practices in violation of Section 5 of the Federal Trade Commission Act. According to the Consent Order, the bank made misrepresentations and failed to disclose certain information to consumers about…

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