U.S. Bancorp ordered to pay $3.2M in auto loan refunds

theflyonthewall.com

Following an announcement from the Consumer Financial Protection Bureau, U.S. Bancorp's U.S. Bank and Dealers' Financial Services were ordered to return about $6.5M to servicemembers for failing to properly disclose an allotment fee charged to participants, as well as the timing of the allotment payments. U.S. Bank has agreed to pay at least $3.2M and DFS has agreed to pay $3.3M for violating the Truth in Lending Act and federal laws.

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