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Home » CFPB orders $20M in penalties against Fifth Third 

CFPB orders $20M in penalties against Fifth Third 

Bureau alleges the bank unfairly charged for vehicle insurance 

Amanda HarrisbyAmanda Harris
September 18, 2024
in Compliance
Reading Time: 5 mins read
0
A Fifth Third Bank branch in downtown Nashville, Tennessee, US, on Tuesday, June 13, 2023. Fifth Third Bancorp is scheduled to release earnings figures on July 20.

© 2023 Bloomberg Finance LP, Photographer: Liam Kennedy/Bloomberg

Fifth Third Bank faces $20 million in penalties after the Consumer Financial Protection Bureau today issued an order alleging that the financier engaged in illegal activities related to vehicle loans and fake accounts.  Cincinnati-based Fifth Third added “excessive charges” to auto loan bills that led to “almost 1,000 families losing their cars to repossession,” CFPB […]

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