You might reasonably get the impression that applying for a car loan is akin to walking through a minefield. But thanks to the Consumer Financial Protection Bureau, it's a lot more fair to the customers of this Ohio bank. Via CBS News: The Consumer Financial Protection Bureau (CFPB) slapped Fifth Third Bank with a $20 million fine on Tuesday for allegedly forcing auto loan customers to buy unnecessary car insurance policies, and in some cases repossessing their vehicles when they defaulted. "The CFPB has caught Fifth Third Bank illegally loading up auto loan bills with excessive charges, with almost 1,000 families losing their cars to repossession," Director Rohit Chopra said in a statement Tuesday.
Comment on Ohio Bank Slapped With $20M Fine Over Duplicate Car Insurance
Susie Madrak, Crooks and Liars
Wed, 07/10/2024 - 4:57am
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