table
1
Selected Bank
“Bad Practices” Enforcement Cases
Consumer Restitution
or other Recompense,
if Required
(Excludes CMP or Other Penalties)
2013
Jpmorgan chase (occ and cFpB consent orders - 9/19/13). unfair billing practices for
certain credit card “add-on products” by charging consumers for credit monitoring services
they did not receive.
approximately $309 million
u.s. Bank and Dealers’ Financial services (DFs) (cFpB consent orders - 6/25/13). Deceptive
marketing and lending practices targeting active-duty military through the military installment
loan and education services program.
approximately $6.5 million to
servicemembers
achieve Financial services, llc, an institution-affiliated party of First california Bank
(FDic consent order - 5/28/13). Deceptive and unfair acts and practices regarding prepaid
mastercards and resolution of disputed claims pertaining to delivery of federal benefit
payments to prepaid debit cards.
$1,100,000, supplemented as needed
citizens Bank of pa (cBpa) and rBs citizens, n.a. (FDic and occ consent orders -
4/30/13). Deceptive practices concerning overdraft fees, rewards checking, and stop
payment orders.
$3.9 million
2012
american express centurion Bank; american express Bank, FsB; and american express
travel related services company, inc. (cFpB, FDic, FrB, and occ consent orders -
10/1/12). illegal credit practices and violations of several regulations.
$85 million
urban trust Bank (occ Written agreement - 9/24/12). engaged in issuing prepaid cards to a
multi-state payday lender which, in turn, issued the cards with overdraft and loan features to
evade state payday and usury laws.
Discover (FDic and cFpB consent order - 9/24/12). Deceptive marketing of credit card add-on products. $200 million
higher one, inc. of new haven, conn., and the Bancorp Bank (FDic - 8/8/12). charging
student account holders multiple insufficient fund (nsF) fees. approximately $11 million
capital one (occ consent cease & Desist - 7/18/12). Deceptive third-party marketing
practices, and credit card add-ons. $140 million
2011
east Boston savings Bank (FDic consent order -12/13/11). implementation of overdraft
program in violation of uDaap and regulation DD. amount not available
markleBank (FDic consent order - 9/9/11). procedures for the resolution of errors contrary
to the bank’s disclosures concerning error resolution in violation of regulation e and uDaap.
greenBank (FDic consent order - 9/2/11). unfair and deceptive practices and violations
of regulation e in conjunction with marketing and implementation of the bank overdraft
program.
Bank of Wolcott (FDic formal action - 6/25/11.) electronic Funds transfer (eFt) error resolution
practices inconsistent with disclosures and burdensome requirements for consumer before
starting the ten-day investigation period.
Jpmorgan chase Bank, n.a., (occ consent order - 6/9/11). Deceptive marketing and sale of
a credit protection product by chase auto Finance, chase home lending, and chase card
services.
amount not available
republic Bank and trust (FDic consent order -5/3/11). unfair and deceptive practices
concerning refund anticipation loans products.
World’s Foremost Bank (FDic consent order - 3/8/11). Various unfair and deceptive practices
concerning credit card over limit fees; debt-collection; payment terms and posting; penalty
charges; late fees; and changes in terms violating uDaap and regulation Z.
approximately $10.1 million
