By ABIA Outside Counsel Chrys Lemon and Adam Maarec, McIntyre & Lemon, PLLC
In September 2013, the Consumer Financial Protection Bureau issued a consent order against a national bank for improper billing and administration practices in connection with the sale of an “add-on product.” The bank agreed in its consent order to refund over $309 million of fees, over-limit charges, and interest, and to pay a $20 million civil money penalty.
Click here for a members only review of the specific practices that were considered “unfair, deceptive, or abusive” by the Bureau and the mandated elements of a new compliance plan for the bank. If you are having trouble logging on or you are with a member that in not a bank, please contact us and we will email you a copy.
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