U.S. Bank National Association
On July 28, 2022, the Bureau issued a consent order against U.S. Bank National Association, a national bank headquartered in Minneapolis, Minnesota. The Bureau found that U.S. Bank issued credit cards and lines of credit and opened deposit accounts for certain consumers without their knowledge and consent and without required applications and disclosures in violation of the Truth in Lending Act, Truth in Savings Act, and their implementing regulations, and the Consumer Financial Protection Act of 2010. The Bureau further found that U.S. Bank violated the Fair Credit Reporting Act by using or obtaining consumer reports without a permissible purpose in connection with unauthorized applications for credit cards. The order required U.S. Bank to comply with the law and develop a plan to remediate harmed consumers, and pay a $37.5 million penalty to the Bureau.
On August 21, 2025, pursuant to the Bureau’s authority under 12 U.S.C. § 5563(b)(3) and under Paragraph 79 of the order, the Bureau terminated the order and waived any alleged non-compliance therewith. U.S. Bank has fulfilled certain obligations under the order, including, among other things, paying a civil money penalty of $37,500,000 to the Bureau required by Section IX of the order, issuing redress payments required by Section VIII of the order, and taking steps to implement injunctive relief to prevent future violations required by “Conduct Provisions” of the order.
Related Documents
Order Terminating the Consent Order