Fifth Third (FITB) Enters into Settlement Agreement with CFPB

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Go back to Fifth Third (FITB) Enters into Settlement Agreement with CFPB

Fifth Third Enters into Settlement Agreement with CFPB

July 9, 2024 11:21 AM EDT

 

CINCINNATI--(BUSINESS WIRE)-- Fifth Third Bank announced today it has reached a comprehensive settlement agreement with the Consumer Financial Protection Bureau (CFPB) to resolve both its litigation related to sales practices and an investigation into the Banks auto finance servicing activities. Fifth Third has agreed to pay a $15 million fine for sales practices and a $5 million fine for auto finance servicing activities. This agreement requires Fifth Third to maintain existing policies and develop compliance plans. The Bank will also work with the Bureaus supervisory arm to develop and implement remediation plans for any... More