The Office of the Comptroller of the Currency on Monday said that it reached a settlement with T Bank of Dallas that directs the bank to pay $5.1 million to more than 60,000 consumers adversely affected by its relationship with a third-party processor and several telemarketers. T Bank also agreed to pay a $100,000 civil money penalty to the Treasury Department.

The OCC said T Bank engaged in unsafe and unsound practices during its relationship with the third party, including the use of remotely created checks by telemarketers and payment processors that allegedly withdrew money from customers' accounts without their knowledge or promised them services they did not receive.

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