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Federal Reserve Section 5 Consent Order

Goodwin

Federal Reserve Board Settles With Kentucky Bank for $4.75 Million

Goodwin on

On July 26, 2018, the Federal Reserve Board (FRB) announced a multi-million dollar settlement with a Kentucky bank over allegations of unlawful banking practices in violation of Section 5 of the Federal Trade Commission Act. ...more

Ballard Spahr LLP

Federal Reserve Announces Consent Order Related to Bank’s Use of Discount Points

Ballard Spahr LLP on

On November 28, 2017, the Federal Reserve Board announced a Consent Order with Peoples Bank (Peoples) in Lawrence, Kansas. The Order charges Peoples with violating Section 5 of the Federal Trade Commission Act (FTCA) by...more

Manatt, Phelps & Phillips, LLP

Deceptive Marketing Practices Cost Bank $5M

A state-chartered bank based in Missouri must pay $5 million pursuant to a Consent Order with the Board of Governors of the Federal Reserve System resulting from charges of deceptive marketing practices....more

Goodwin

Federal Reserve Enters Consent Order With Kansas Bank Over Deceptive Mortgage Origination Practices

Goodwin on

On November 28, the Federal Reserve announced that it had entered into a consent order with a Kansas state bank, resolving allegations that the bank engaged in deceptive residential mortgage lending practices in violation of...more

Ballard Spahr LLP

Fed issues consent order for bank’s alleged deceptive practices involving balance transfer credit cards

Ballard Spahr LLP on

The Federal Reserve Board announced that it had issued a Consent Order against Mid America Bank and Trust Company (Bank) for alleged deceptive marketing practices in violation of section 5 of the FTC Act related to balance...more

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