A bank created fake accounts, forced clients into unnecessary car insurance and repossessed vehicles when they didn’t pay. Now it has agreed to $20 million in penalties | CNN Business
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Fifth Third Bank on Tuesday said it agreed to pay $20 million in penalties imposed by the Consumer Financial Protection Bureau to settle a CFPB investigation into its auto insurance practices, and a 2020 lawsuit the agency filed pertaining to the bank’s creation of fake customer accounts.
  • SirSamuel@lemmy.worldEnglish
    5·
    4 months ago

    These shitbirds never change.

    In the mid-00’s they had a policy where they would rearrange your debits for the day from largest to smallest. Let’s say you had $50 in your account and the following expenses:

    • $25 fuel 9:00
    • $10 McDicks 12:00
    • $2 candy bar 15:00
    • $55 Groceries 17:30

    Instead of denying the last purchase, or doing what the other shitheels do and charging $30 for the overdraft, Fifth-third (yes that’s how you say that dumbass name) would rearrange the debits so that you now incur four overdraft fees.

    It was bad enough that a class action suit was brought against them. My wife got a whole $90 payout after sending receipts for over $600 in accumulated spurious overdrafts. (As a side point, she’s much better with money and bookkeeping now).

    I want to be clear, I have no intention of taking the law justice into my own hands. That being said, if I had a mental break and decided to do a little light culling, the deciders for 5/3 would be near the top of the list