CFPB, OCC fine U.S. Bank $36M over frozen accounts during pandemic

Tens of thousands of consumers who were frozen out of their prepaid U.S. Bank accounts during the height of the Covid-19 pandemic may be entitled to compensation thanks to a pair of enforcement actions totaling $36 million in penalties and redress. The Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency ordered the nation’s fifth-largest bank to pay nearly $21 million and $15 million, respectively.