CFPB v. U.S. Bank

U.S. Bank allegedly violated the Consumer Financial Protection Act of 2010 by failing to provide eligible ReliaCard prepaid debit cardholders whose accounts U.S. Bank froze with adequate means to verify their identities and timely regain access to their benefits. U.S. Bank also allegedly violated the Electronic Fund Transfer Act, and its implementing Regulation E, by failing to timely investigate ReliaCard prepaid debit cardholders’ notices of error concerning alleged unauthorized electronic fund transfers, according to CFPB.

Summary generated from official Consumer Financial Protection Bureau press release