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U.S. Bancorp
U.S. Bank to pay penalties, refunds for services sold but not provided
U.S. Bank to pay penalties, refunds for services sold but not provided

Federal regulators have ordered U.S. Bancorp to pay $57 million in restitution and penalties for charging customers for identity-protection and credit-monitoring services they never received. The Consumer Financial Protection Bureau said Thursday that the company’s U.S. Bank subsidiary would refund $48 million to more than 420,000 customers. Affected consumers who are still U.S. Bank customers will receive a credit to their accounts and those who are not will receive checks in the mail, according to the bureau. It said consumers are not required to take any action to receive their refunds. The Minneapolis-based bank also was ordered to pay a civil penalty of $5 million to the...

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