The Newsroom

Investigations  /  05.28.2020

Investigation of Fifth Third Bancorp

You Have Legal Options

Fifth Third Bancorp (FITB) Sued By the Consumer Financial Protection Bureau

On March 2, 2020, Fifth Third disclosed in its annual report for 2019 that the U.S. Consumer Financial Protection Bureau (“CFPB”) “notified Fifth Third that it intends to file an enforcement action in relation to alleged unauthorized account openings.” Then, on March 9, 2020, the CFPB announced that it filed a lawsuit against Fifth Third in federal court alleging that for several years and until at least 2016, “Fifth Third without consumer’s knowledge or consent: opened deposit and credit-card accounts in consumers’ names; transferred funds from consumers’ existing accounts to new, improperly opened accounts; enrolled consumers in unauthorized online-banking services; and activated unauthorized lines of credit on consumers’ accounts.” The CFPB further alleged that Fifth Third knew of the wrongdoing since 2008 but failed to take sufficient steps to stop the conduct and remediate harmed consumers. On this news, Fifth Third’s stock price fell 13% over the next three trading days to close at $15.90 per share.

  • If you would like more information about your rights and potential remedies please send us a message. 

  • Please Note: Neither the submission to nor the receipt of information by Robbins LLP or one of its attorneys through this website constitutes an agreement by our firm to represent the individual and does not create an attorney-client relationship. Please do not send confidential or sensitive information through this website. This information should be communicated through a direct contact with an individual at the firm.


How can we help you?

CONTACT US TODAY | 1 800 350 6003 or [email protected]

Tell us your concerns