Digital Bank Chime Fined $3.25 Million For Delays In Returning Customer Funds [Forbes]
The Bancorp, Inc. (TBBK)
Last the bancorp, inc. earnings: 4/30 04:05 pm
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Source: Forbes
Chime partners with traditional banks to offer banking products like checking and savings accounts. Chime, the , was fined $3.25 million by the Consumer Financial Protection Bureau (CFPB) for long delays in getting customers their refunds after their accounts were closed, sometimes involuntarily. Chime doesn't have a bank charter–it partners with Bancorp Bank and Stride Bank to offer banking products like checking accounts, savings accounts, a secured credit card and . But the CFPB, a federal agency, has fined multiple fintechs over the years for violations of consumer protection laws. The 12-year-old San Francisco-based Chime needs to pay at least $1.3 million to compensate affected customers, in addition to a fine of $3.25 million to the CFPB's victims relief fund, according to a . Chime took longer than 90 days to issue refund checks in “thousands of instances,” according to the that Chime has entered into with the CFPB. (As is common in such enforcement actions, Chime agreed
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TBBK
News
- IMPORTANT SHAREHOLDER INVESTIGATION: The Schall Law Firm Announces it is Investigating Claims Against The Bancorp, Inc. and Encourages Investors with Losses to Contact the FirmAccesswire
- Lowey Dannenberg, P.C. is Investigating The Bancorp, Inc. (“TBBK” or the “Company”) (NASDAQ:TBBK) for Potential Violations of the Federal Securities Laws and Encourages Investors with more than $50,000 in Losses to Contact the FirmGlobeNewswire
- SHAREHOLDER ACTION ALERT: The Schall Law Firm Announces it is Investigating Claims Against The Bancorp, Inc. and Encourages Investors with Losses to Contact the FirmAccesswire
- SHAREHOLDER ACTION ALERT: The Schall Law Firm Announces it is Investigating Claims Against The Bancorp, Inc. and Encourages Investors with Losses to Contact the FirmAccesswire
- INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against The Bancorp, Inc. and Encourages Investors with Losses to Contact the FirmAccesswire
TBBK
Earnings
- 4/25/24 - In-Line
TBBK
Sec Filings
- 5/17/24 - Form EFFECT
- 5/15/24 - Form 4
- 5/14/24 - Form 10-Q
- TBBK's page on the SEC website