CFPB Takes Actions Against Fifth Third Bancorp (FITB) for Auto Loan Pricing, Illegal Credit Card Practices

Today the Consumer Financial Protection Bureau (CFPB) announced two separate actions against Fifth Third Bank (Nasdaq: FITB), for discriminatory auto loan pricing and for illegal credit card practices. The joint CFPB and Department of Justice (DOJ) auto-lending enforcement action requires Fifth Third to change its pricing and compensation system to minimize the risks of discrimination, and to pay $18 million to harmed African-American and Hispanic borrowers. The CFPB's action against Fifth Third's deceptive marketing of credit card add-on products requires the bank to provide an estimated $3......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web http://ift.tt/1RbZ98E
via IFTTT