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Violation Tracker Individual Record

Company: Fifth Third Bank
Current Parent Company: Fifth Third Bancorp
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $20,000,000
Year: 2024
Date: July 9, 2024
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: banking violation
Violation Description: The Consumer Financial Protection Bureau fined Fifth Third Bank $20 million for opening fake accounts in the name of customers and for forcing auto owners to purchase insurance when they already had coverage. The agency also ordered the bank to pay redress to approximately 35,000 consumers, including about 1,000 who had their cars improperly repossessed.
Level of Government: federal
Action Type: agency action
Agency: Consumer Financial Protection Bureau
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Ohio
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.