Fifth Third Bank is under investigation by the Department of Justice to determine whether the bank engaged in discriminatory practices in connection with its indirect automobile loan portfolio, according to a 10-Q filed today.
The bank said it is cooperating with DOJ in the investigation. The bank also said that any claim resulting from the investigation could include direct and indirect damages and civil money penalties.
Although the Consumer Financial Protection Bureau is not mentioned in the 10-Q filing, the agency was likely involved in the investigation. For example, when the CFPB discovered fair lending violations during an examination of Ally Financial, the agency referred the matter to the Civil Rights Division of the Department of Justice.
