U.S. consumer watchdog charges Fifth Third Bank on opening phony accounts [Reuters]
Fifth Third Bancorp (FITB)
Last fifth third bancorp earnings: 4/21 06:30 am
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Source: Reuters
U.S. consumer watchdog charges Fifth Third Bank on opening phony accounts WASHINGTON (Reuters) - The U.S. Consumer Financial Protection Bureau (CFPB) said on Monday it charged Fifth Third Bank, National Association, for creating fake client deposit and credit-card accounts and transferring clients’ funds to those accounts without consent, citing an abuse of fair lending and savings laws. The Cincinnati-based lender did not admit or deny the consumer watchdog’s allegations that it engaged in unauthorized account openings and money transfers, the CFPB said in a statement. “Despite knowing since at least 2008 that employees were opening unauthorized consumer-financial accounts, Fifth Third took insufficient steps to detect and stop the conduct and to identify and remediate harmed consumers,” the CFPB said. It also alleged that the program “created incentives for employees to engage in misconduct in order to meet goals or earn additional compensation” at least until 2016. The CFPB’s charg
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FITB
News
- Fifth Third's Laurent Desmangles, Linda W. Clement-Holmes Recognized as 2024 Most Influential Corporate Directors by Savoy Magazine [Yahoo! Finance]Yahoo! Finance
- Fifth Third’s Laurent Desmangles, Linda W. Clement-Holmes Recognized as 2024 Most Influential Corporate Directors by Savoy MagazineBusiness Wire
- Fifth Third Bank, National Association, Names Matt Nipper as Northern Ohio PresidentBusiness Wire
- Fifth Third Kicks Off Second Annual ‘Swap, Snap, Share' Small Business Appreciation Campaign [Yahoo! Finance]Yahoo! Finance
- Fifth Third Kicks Off Second Annual ‘Swap, Snap, Share’ Small Business Appreciation CampaignBusiness Wire
FITB
Earnings
- 10/18/24 - Miss
FITB
Sec Filings
- 11/18/24 - Form 4
- 11/14/24 - Form SC
- 11/6/24 - Form 8-K
- FITB's page on the SEC website