Enforcement actions

Fifth Third latest bank in CFPB crosshairs over phony accounts

03/04/20

The bank’s disclosure of an impending enforcement action shows that the CFPB continues to crack down on aggressive practices that got Wells Fargo in hot water.

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Supreme Court justices question wisdom of CFPB overhaul

03/03/20

The court’s liberal bloc and Chief Justice John Roberts, who holds a crucial swing vote, appeared reluctant to remove a contentious provision that limits a president’s ability to fire a sitting director of the bureau.

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Cheat sheet: Inside the $3B Wells Fargo settlement

02/21/20

The ten-digit penalty marks an important milestone for the bank, but individual ex-bankers may still be at risk and grueling hearings lie ahead for current leadership.

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Wells Fargo pays $3 billion, avoids prosecution for sales abuses

02/21/20

A deferred-prosecution agreement with the Justice Department spares the bank a potential criminal conviction — provided it cooperates with continuing probes and abides by other conditions.

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Kraninger wants more money for CFPB. White House has a different plan.

02/20/20

The Trump administration proposes cutting personnel and other budgetary items at the bureau, while the agency’s director — who controls the purse strings and was hand-picked by the administration — aims to boost spending and hire more employees.

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Fed terminates enforcement actions against four large banks

02/13/20

The three cease and desist orders and one written agreement had cited separate concerns at JPMorgan Chase, Discover, Deutsche Bank and RBS.

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CFPB’s unexpected showdown with Citizens

02/09/20

The agency's lawsuit against the Rhode Island company — the first involving a bank under Director Kathy Kraninger — has challenged assumptions about its approach to enforcement.

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CFPB settlement would bar lender from doing business in 17 states

02/06/20

Think Finance, which had teamed with tribal lenders to offer high interest installment loans, could no longer make or collect on loans in states that have caps on interest rates, under terms of a proposed settlement with the Consumer Financial Protection Bureau.

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CFPB sues Citizens over card fraud claims, but bank pledges to fight

01/30/20

The consumer bureau alleges the Providence, R.I., bank mismanaged billing error claims over a six-year period. Citizens Bank says it is “puzzled and disappointed” by the agency’s action.

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CFPB's hiring of former DOJ official could raise ire of Capitol Hill

01/30/20

The agency has named Thomas G. Ward as the bureau’s assistant director for enforcement. House Democrats have questioned Ward's role as a political appointee in the Trump administration.

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