Fifth Third Bank to pay $5 million to settle auto insurance allegations – The Washington Post
Fifth Third Bank has agreed to pay millions of dollars to settle allegations that it forced auto loans. The scheme led to customers taking out duplicate auto insurance policies, resulting in higher monthly payments and, in some cases, resulting in the seizure of vehicles from customers who could not pay. The Consumer Financial Protection Bureau […]
CFPB Takes Action Against Fifth Third for Wrongfully Triggering Auto Repossessions and Opening Fake Bank Accounts – Consumer Financial Protection Bureau
Washington DC – The Consumer Financial Protection Bureau (CFPB) today took action against Fifth Third Bank for a series of illegal activities that will result in the bank paying a $20 million penalty and providing compensation to approximately 35,000 affected consumers, including approximately 1,000 who had their vehicles repossessed. Specifically, the CFPB is ordering Fifth […]