WASHINGTON (Reuters) – The U.S. Office of the Comptroller of the Currency assessed a $15 million civil money penalty against U.S. Bank for violations of law relating to its administration of a prepaid card program to distribute public unemployment insurance benefit payments, the OCC said on Tuesday.
The OCC said its penalty is separate from, but coordinated with, the Consumer Financial Protection Bureau, which issued an enforcement order on Tuesday against the bank. The CFPB said it ordered the bank to pay to pay $5.7 million to consumers harmed by its actions and a a $15 million civil money penalty.
(Reporting by Paul Grant; Editing by Doina Chiacu)
