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The Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB) said the bank had a faulty fraud detection program that improperly froze the prepaid card accounts of thousands of people seeking jobless benefits in 2020 and 2021.
Consumer Financial Protection Bureau CFPB Director Rohit Chopra protested outsized power of small bank and credit union core service providers at Community Bank Advisory Council and Credit Union Advisory Council joint meeting.
Rohit Chopra was confirmed yesterday by the U.S. Senate to become the Director of the Consumer Financial Protection Bureau. Chopra previously served as the Bureau’s assistant director and was its first student loan ombudsman.