Information and Alerts
Alert Details
This business has 1 alert.
Alert
The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved. We are providing a summary of the government’s allegations, which have not yet been proven.
On March 9, 2020 the Consumer Financial Protection Bureau (CFPB) filed a suit alleging Fifth Third took unauthorized actions, specifically: opening deposit accounts in consumers’ names; transferring funds from consumers’ existing accounts to new, improperly opened accounts; issuing credit cards; enrolling consumers in online-banking services; and opening lines of credit on consumers’ accounts. The actions are alleged to be a result of a "cross-sell" strategy to increase the total number of products and services the business provides to existing customers.
The suit seeks to permanently enjoin the business from the actions listed in the suit, as well as rectify any issues with affected consumers and pay a civil financial penalty.
Important Information
This business is BBB Accredited.
BBB has determined that Fifth Third Bank - W. Madison meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.
BBB accreditation does not mean that the business's products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business's product quality or competency in performing services.
Service Area
- Chestnut Street, IL
- Chicago, IL
- Fort Dearborn, IL
- Merchandise Mart, IL
- Ontario Street, IL
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