J.P. Morgan Chase Fined $4.6 Million By CFPB Over Checking Account Screening

By Steve Goldstein Markets MarketWatch Pulse

J.P. Morgan Chase & Co. was fined $4.6 millionby the Consumer Financial Protection Bureau for failures related to information it provides for checking account screening reports. Chase failed to have adequate processes for accurately reporting checking account information, kept consumers in the dark about the results of their disputes and kept consumers in the dark about key aspects of their checking account application denials, the CFPB said.

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