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Fifth Third Bank Accused of Setting up Accounts without Consumer Consent

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Fifth Third Bank Accused of Setting up Accounts without Consumer Consent


Cincinnati-based Fifth Third Bank has been accused in a federal lawsuit of encouraging employees to set up accounts and credit cards without customer consent.

The federal Bureau of Consumer Financial Protection sued Fifth Third, alleging violations of the Consumer Financial Protection Act, Truth in Lending Act and the Truth in Savings Act.

The federal agency says Fifth Third’s abusive behavior happened from 2008 until 2016 as part of a long-running “cross-sell” strategy. Instead of having “reasonable sales goals,” federal officials said Fifth Third effectively goaded employees to break rules, while the bank turned a blind eye.

The accusations are similar to those levied against Wells Fargo, which last month agreed to pay $3 billion to settle claims its employees created millions of fake accounts to meet sales goals.

Maginnis Law’s consumer law attorneys are committed to helping individuals and groups like you who have been wronged by big corporations, banks, creditors, and collection agencies. Our consumer protection lawyers file lawsuits against these finance companies, debt collectors, creditors, and collection agencies to protect you from their unlawful business practices. Without obtaining lawyers who will fight for you, you may never get justice.

If you or someone you know has been wronged by a big corporation, bank or collection agency, we want to hear from you. Feel free to give us a call at 919.526.0450 or email us at info@maginnislaw.com. You can also subscribe to our mailing list to learn about the rights you have under consumer protection law against large corporations or take our consumer rights survey to see if we are investigating a situation that might apply to you.

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