Consumer Bureau Action Tracker

CFPB – U.S. Bank National Association




U.S. Bank National Association


Add-On Products, Enforcement, Credit Cards

In September 2014, in conjunction with the Office of the Comptroller of the Currency, the CFPB ordered the bank to pay “$47.9 million to more than 420,000 consumer accounts” that “were unfairly billed for identity theft protection products marketed by the bank and sold by its vendor.” The CFPB assessed the U.S. Bank National Association an additional “$5 million civil money penalty,” and mandated the bank association had to pay another $4 million to the U.S. Treasury.

  • The restitution ordered against the Cincinnati, Ohio-based organization was set to “benefit consumers who enrolled in and paid for identity theft protection products between February 2003 and August 2012, but did not receive the full benefit of the products.” An investigation by the OCC found that the “bank’s practices violated Section 5 of the Federal Trade Commission Act, 15 U.S.C. 45[a][1], which prohibits unfair acts or practices.” [Press Release, “OCC Assesses Penalty Against U.S. Bank National Association; Orders Restitution for Unfair Billing Practices”, Office of the Comptroller of the Currency, 09/26/14]


Inactive or Resolved

2014-CFPB-0013 9/25/2014 9/25/2014

CFPB Orders U.S. Bank to Pay $48 Million Refund to Consumers Illegally Billed for Services Not Received

  • Consumer Financial Protection Bureau (CFPB)
  • Administrative filing
  • None
  • Bank
  • $52,900,000
  • 420,000



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