U.S. Bank controversies

U.S. Bank pays civil penalty over unauthorized customer accounts

The Consumer Financial Protection Bureau said U.S. Bank had opened unauthorized accounts and misused customer information over an extended period; the bank agreed to a monetary penalty and remediation.

Unauthorized account and customer-information practices

The Consumer Financial Protection Bureau found that U.S. Bank opened unauthorized credit-card accounts, accessed consumer credit reports without permissible purpose and misused customer information. The bank was ordered to pay a civil monetary penalty and provide redress and remediation.

U.S. Bank reaches settlement over NEIA student debt

Settlement

U.S. Bank reached a settlement with the Massachusetts attorney general’s office under which it will discharge more than $230,000 in debt for former New England Institute of Art students and return more than $30,000 in recent payments to Massachusetts for repayment to the borrowers.