PYMNTS

OCTOBER 20, 2016

According to an investigation by the CFPB, Wells Fargo employees not only made fake deposit accounts but also submitted 565,443 unauthorized credit card account applications on behalf of unknowing customers. It’s estimated that 14,000 of those accounts accrued $403,145 in fees.

Identity Theft 67

Identity Theft Deposit Account CFPB Accounts 67

PYMNTS

DECEMBER 13, 2016

According to an investigation by the CFPB, Wells Fargo employees not only made fake deposit accounts but also submitted 565,443 unauthorized credit card account applications on behalf of unknowing customers. It’s estimated that 14,000 of those accounts accrued $403,145 in fees.

Deposit Account 71

Deposit Account CFPB Credit Cards Accounts 71

PYMNTS

OCTOBER 13, 2016

According to an investigation by the CFPB, Wells Fargo employees not only made fake deposit accounts but also submitted 565,443 unauthorized credit card account applications on behalf of unknowing customers. It’s estimated that 14,000 of those accounts accrued $403,145 in fees.

Federal Reserve 68

Federal Reserve Deposit Account CFPB Credit Cards 68

PYMNTS

SEPTEMBER 13, 2016

But one analyst is arguing that the unethical customer conduct that bank has been charged with — opening 1,534,280 unauthorized deposit accounts, allowing it to accrue a total of $2 million in fees — wasn’t even worth the damage to the financial institution’s reputation. However, Forbes pointed out, the settlement is just 3.3

Accounts 49

Accounts Deposit Account Federal Reserve Credit Cards 49

PYMNTS

OCTOBER 31, 2016

According to an investigation by the CFPB, Wells Fargo employees not only made fake deposit accounts but also submitted 565,443 unauthorized credit card account applications on behalf of unknowing customers. It’s estimated that 14,000 of those accounts accrued $403,145 in fees.

Accounts 59

Accounts Federal Reserve Deposit Account CFPB 59

PYMNTS

JULY 15, 2016

It’s as quiet as a hot summer night, as the prepaid industry awaits the final ruling from the CFPB. That sets up one of the biggest areas of contention from the standpoint of the prepaid card industry: the majority of users perceive and use prepaid cards no differently than a standard demand deposit account. So far, so good.

CFPB 40

CFPB Push-to-Card Rules Deposit Account 40

PYMNTS

NOVEMBER 14, 2016

According to an investigation by the CFPB, Wells Fargo employees not only made fake deposit accounts but also submitted 565,443 unauthorized credit card account applications on behalf of unknowing customers. It’s estimated that 14,000 of those accounts accrued $403,145 in fees.

Deposit Account 60

Deposit Account CFPB Push-to-Card Accounts 60

PYMNTS

DECEMBER 14, 2016

According to an investigation by the CFPB, Wells Fargo employees not only made fake deposit accounts but also submitted 565,443 unauthorized credit card account applications on behalf of unknowing customers. It’s estimated that 14,000 of those accounts accrued $403,145 in fees.

Deposit Account 53

Deposit Account CFPB Credit Cards Governance 53

Fintech Labs Insights

MARCH 4, 2019

Self Lender’s bank partners, put aside the total of all the monthly payments into an FDIC deposit account. Notes: Estimate made by CFPB for number of credit invisible (26 million) and those that had an incalculable credit score due to lack of info (19 million).

Origination 12

Origination Credit Union Push-to-Card Debit Card 12

FICO

OCTOBER 4, 2021

Data & Analytics: Define a broad range of input sources available for collections specific decisioning including collections activity data, account performance from initial entry to a past due state, collections transactional data, and relevant alternative data sources.

Facilitators 52

Facilitators Risk Direct Deposit Deposit Account 52

FICO

JANUARY 26, 2022

Data & Analytics: Define a broad range of input sources available for collections specific decisioning including collections activity data, account performance from initial entry to a past due state, collections transactional data, and relevant alternative data sources. More Digital Communication.

Posting 52

Posting Consumer Financial Protection Bureau (CFPB) CFPB Governance 52

FICO

JANUARY 26, 2022

The UltraFICO™ Score empowers consumers to leverage their checking and savings account data to enhance their score. When the UltraFICO™ Score uses this demand deposit account (DDA) data, it’s current as of the day prior to the score pull. . Read full post : FICO Fact: How Current Is The Data In My FICO Score?

Credit Cards 52

Credit Cards Demand Deposit Account (DDA) Credit Risk Consumer 52