CFPB orders Fifth Third Bank to pay $20M for car insurance, fake accounts (NASDAQ:FITB)

Fifth Third Bank in Oak Brook, IL.

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The Consumer Financial Protection Bureau ordered Fifth Third Bank (NASDAQ:FITB) to pay $20M in penalties in addition to compensating ~35,000 harmed consumers, including ~1,000 who had their cars repossessed, for a range of alleged illegal practices, the regulator said on Tuesday.