U.S. Bank fined $37.5 million for opening sham accounts using customer data
Company: U.S. Bancorp
Summary
CFPB found U.S. Bank employees unlawfully accessed customers' credit reports and opened checking, savings, credit-card and other accounts without permission in response to sales-pressure incentives. The Bureau imposed a $37.5 million penalty. Source: https://www.consumerfinance.gov/archive/newsroom/cfpb-fines-us-bank-375-million-for-illegally-exploiting-personal-data-to-open-sham-accounts-for-unsuspecting-customers/