Enforcement actions

USAA ordered to improve risk management, information security


The enforcement action from the OCC comes on the heels of a CFPB consent order that said USAA reopened customers' accounts without consent and neglected stop-payment requests.


State AGs assail CFPB plan to build fintech sandbox


The bureau wants to further remove the threat of legal liability for firms that test products benefiting consumers, but the attorneys general say the agency cannot provide immunity from state law.


CFPB fines payday lender Cash Tyme for overcharging customers


The lender collected at least $21,800 that consumers did not owe and harassed borrowers' personal references, according to a CFPB settlement.


CFPB fines Enova $3.2M for unauthorized account debits


The consumer bureau says the online lender improperly extracted millions from over 5,000 accounts without getting authorization.


CFPB's No. 3 to depart, join New York AG


Chris D’Angelo, the CFPB's associate director of supervision, enforcement and fair lending, is leaving the bureau after eight years to become a chief deputy attorney general in New York state.


Calif. regulator settles with lender accused of evading rate cap


The consent order against California Check Cashing Stores is part of a broader crackdown by the Department of Business Oversight on small-dollar lenders trying to skirt interest-rate limits.


Sterling Jewelers fined by CFPB for unauthorized credit card accounts


The company owning brands such as Kay Jewelers and Jared the Galleria of Jewelry will pay $11 million under a settlement with the consumer bureau and New York's attorney general.


Wells Fargo now plans to operate under growth ban through 2019


Wells Fargo & Co. is planning to operate under a Federal Reserve asset cap through the end of 2019, rather than just the first half of the year, as it takes longer than anticipated to correct issues in its consumer business.


USAA mishandled payday disputes, opened unauthorized accounts: CFPB


The bank will pay over $15 million in restitution and fines to settle claims that it neglected stop-payment requests and reopened deposit accounts without customers' consent.


New CFPB chief’s memo to staff: Enforce law, but don’t presume guilt


In her New Year’s message, CFPB Director Kathy Kraninger called on the agency to ensure that consumers are treated fairly and that “the marketplace is innovating.”