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.
CFPB orders TD Bank to pay $27.76 million
The Consumer Financial Protection Bureau on Wednesday announced it had ordered TD Bank, N.A. to pay $7.76 million in consumer redress to thousands of victims for its illegal actions regarding credit reporting. The Bureau said the bank for years repeatedly shared inaccurate, negative information about its customers to consumer reporting companies. The information included systemic errors about credit card delinquencies and bankruptcies. In addition to the redress, the CFPB is ordering TD Bank to pay a $20 million civil money penalty.
Specifically, the CFPB said TD Bank harmed consumers by—
- Failing to fix its credit card reporting errors
- Sharing fraudulent information with consumer reporting companies after the bank identified houndreds of thousands of deposit account openings that were either conformed or suspected to be fraudulent
- Failing to investigate and resolve consumer disputes
For additional information and the details of the Bureau's consent order, click HERE.
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