Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.
Fifth Third to pay $500K plus $21M in reimbursements
The CFPB has announced it has taken action against Fifth Third Bank for auto-lending discrimination and illegal credit card practices. The Bureau was joined by the Department of Justice in its action involving discriminatory auto loan pricing.
The joint CFPB and Department of Justice (DOJ) auto-lending enforcement action requires Fifth Third to change its pricing and compensation system to minimize the risks of discrimination, and to pay $18 million to harmed African-American and Hispanic borrowers. The CFPB’s action against Fifth Third’s deceptive marketing of credit card add-on products requires the bank to provide an estimated $3 million in relief to eligible harmed consumers and pay a $500,000 penalty.
CFPB consent order in the auto lending matter
CFPB consent order in the credit card add-on matter
There are additional details in BOL's Penalty Record for these actions.
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