The Bureau of Consumer Financial Protection (Bureau) filed in federal district court a proposed settlement with TCF National Bank regarding its marketing and sale of overdraft services.
When we take an enforcement action against an entity or person we believe has violated the law, we will post court documents and other related materials here.
The Bureau may enforce the law by filing an action in federal district court or by initiating an administrative adjudication proceeding. Administrative proceedings are conducted by an Administrative Law Judge, who holds hearings and issues a recommended decision. Proceedings are conducted in accordance with the .
Today the Consumer Financial Protection Bureau (CFPB) fined Wells Fargo Bank, N.A. $100 million for the widespread illegal practice of secretly opening unauthorized deposit and credit card accounts. Spurred by sales targets and compensation incentives, employees boosted sales figures by covertly opening accounts and funding them by transferring funds from consumers’ authorized accounts without their knowledge or consent, often racking up fees or other charges.
The Consumer Financial Protection Bureau (CFPB) ordered Santander Bank, N.A. to pay a $10 million fine for illegal overdraft service practices. Santander’s telemarketing vendor deceptively marketed the overdraft service and signed certain of the bank’s customers up for the service without their consent.
RBS Citizens Financial Group, Inc. ( N/K/A) Citizens Financial Group, Inc.), RBS Citizens, N.A. ( N/K/A Citizens Bank, N.A.), and Citizens Bank of Pennsylvania
CFPB, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) took action against Citizens Bank for failing to credit consumers the full amounts of their deposited funds.
CFPB took action against Regions Bank for charging overdraft fees to consumers who had not opted in for overdraft coverage.
CFPB took action against M&T Bank for deceptively advertising free checking accounts.