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Violation Tracker Individual Record

Company: U.S. Bank National Association
Current Parent Company: U.S. Bancorp
Penalty: $51,900,000
Year: 2014
Date: September 24, 2014
Offense Group: financial offenses
Primary Offense: banking violation
Violation Description: The Office of the Comptroller of the Currency assessed a $4 million civil money penalty against U.S. Bank National Association, Cincinnati, Ohio, and ordered restitution of $47.9 million to more than 420,000 consumer accounts. 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. The $4 million civil money penalty will be paid to the U.S. Treasury.
Level of Government: federal
Action Type: agency action
Agency: Office of the Comptroller of the Currency
Civil or Criminal Case: civil
Facility State: Ohio
Facility City: Cincinnati
HQ Country of Current Parent: USA
HQ State of Current Parent: Minnesota
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.