On March 13, the CFPB filed an amended complaint against a Texas bank alleging violations of the CFPA, the EFTA, and its implementing Regulation E.
The complaint related to a program in which the bank managed federal benefit payments and, as amended, alleged that the defendant failed to honor cardholders’ timely requests to cancel preauthorized transfers, investigate cardholders’ notices of error, or stop-payment requests. Additionally, the complaint alleged the bank provided inaccurate information to consumers who reported fraudulent enrollment in the defendant’s program and improperly charged ATM fees to cardholders. The CFPB seeks injunctive relief, redress for injured consumers, and a civil money penalty.
As previously covered by InfoBytes, the Bureau amended its complaint following the denial of a request for a 90-day stay.
