Enforcement actions

Nothing like revelations of a client’s Ponzi scheme that lead to your bank paying $4 million in anti-money-laundering fines. That’s what happened at Gibraltar Private Bank & Trust, but its CEO argues its compliance overhaul has given the bank a competitive advantage in cosmopolitan New York and South Florida.

Bank undercounted fake accounts and says it also opened more than 500,000 bill-pay accounts; CFPB director provides “no further insights” on his future.

Wells Fargo said Thursday that employees opened 3.5 million potentially unauthorized consumer accounts over a nearly eight-year period, a 67% increase from its earlier estimate.

Wells Fargo said Thursday that employees opened 3.5 million potentially unauthorized consumer accounts over a nearly eight-year period, a 67% increase from its earlier estimate.

A credit service provider agreed to exit the industry on Wednesday after a yearlong lawsuit with the Consumer Financial Protection Bureau.

Powell downplayed fears about subprime auto lending, saying he aims to improve Santander Consumer's compliance culture, beef up customer services and expand its relationship with Chrysler Capital.

The Boston company — a division of the Spanish banking giant Banco Santander — announced that the Federal Reserve has terminated a 2014 written agreement barring it from declaring dividends without central bank approval.

American Express charged higher interest rates and annual fees to cardholders in Puerto Rico, the U.S. Virgin Islands and other U.S. territories than in the U.S., the CFPB said Wednesday.

Regulators reached a $183.5 million deal Thursday to get debt relief to 41,000 students of the bankrupt Corinthian Colleges.

There are outstanding questions about whether Elizabeth Duke, who has been on Wells Fargo's board since January 2015, is the right person to lead a culture change at a large bank mired in scandals and investigations.