December 20, 2023
Via: Banking DiveU.S. Bank will pay nearly $36 million in connection with customers’ inability to access unemployment benefits during the COVID-19 pandemic, two regulators said Tuesday, announcing separate penalties. The Consumer Financial Protection Bureau ordered the Minneapolis-based lender to pay $20.7 million […]
July 21, 2022
Via: FinTech Futures“Bank of America automatically and unlawfully froze people’s accounts with a faulty fraud detection program, and then gave them little recourse when there was, in fact, no fraud,” the CFPB says. “Taxpayers relied on banks to distribute needed funds to […]
July 18, 2022
Via: Payments Dive“Today’s action demonstrates the OCC’s commitment to holding our regulated institutions accountable for treating consumers fairly,” Acting Comptroller Michael Hsu said in a statement. “The bank failed these prepaid cardholders by denying them access to their mandated unemployment funds during […]
Capital and Risk, Macroeconomic
July 23, 2020
Via: CNBCThe number of Americans who filed for unemployment benefits rose more than expected last week as the coronavirus pandemic inflicted more damage to the U.S. economy. The Labor Department said Thursday initial jobless claims came in at 1.416 million for […]
Capital and Risk, Macroeconomic
August 23, 2018
Via: CNBCThe number of Americans filing for unemployment benefits fell last week, a sign the labor market was holding firm despite tensions between the United States and its trading partners that have spawned restrictions on global commerce. Initial claims for state […]
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