Consumer Protection News:
Unfair and Deceptive Practices

The OCC took the lead among the federal bank regulatory agencies in developing an approach to address unfair and deceptive marketing practices. These practices are often an element in predatory lending. The OCC has taken a number of enforcement actions against banks that were found to have engaged in abusive practices and, in one landmark case, the OCC required a bank to pay over $300 million in restitution to its customers.

Actions the OCC has taken against banks engaged in abusive practices

12/04/2008 OCC revises the settlement agreement dated April 24, 2008 with Wachovia and directs the Bank to reimburse consumers directly.	Release 2008-143 Amended Agreement
04/24/2008 OCC directs Wachovia to make restitution to consumers harmed by the Bank's relationship with telemarketers and third party processors.	Release 2008-48 Formal Agreement
11/04/2005 OCC Takes Action Against Bank and Subsidiary for Lending Practices	Release 2005-110 Action
02/28/05 OCC issues a cease and desist order and $5 million civil money penalty for mortgage fraud against Chicago Title Insurance Company	Release 2005-21 Consent Order
11/13/2003 OCC Takes Action Against Texas Bank Engaged in Abusive Lending	Release 2003-88 Consent Order
08/01/2003 OCC Requires First Consumers National Bank to Refund Customer Fees	Release 2003-60 Formal Agreement

01/21/2003 OCC Concludes Case Against First National Bank in Brookings Involving Payday Lending, Unsafe Merchant Processing, and Deceptive Marketing of Credit Cards

Release 2003-03 Consent Order

6/28/2000 Providian to Cease Unfair Practices, Pay Consumers Minimum of $300 Million Under Settlement with OCC and San Francisco District Attorney	News Release 2000-49	WORD  ASCII
	Statement	WORD
	Consent Order	PDF
	Stipulation	PDF
	Fact Sheet	WORD  ASCII

First National Bank of Marin (PDF 368KB), Las Vegas, Nevada, 5/24/2005, EA 2004-45

Household Bank (SB), National Association of Las Vegas (PDF), Nevada, 3/25/2003, EA 2003-17

First National Bank of Ft. Pierre (PDF), South Dakota, 7/18/2002, EA 2002-61

Speeches on Unfair and Deceptive practices

06/15/04 Acting Comptroller Julie Williams calls on federal and state regulators to form new partnerships to combat abusive and predatory lending practices	Release 2004-46	Speech
03/22/2002 OCC Chief Counsel Julie L. Williams Urges Banks to be Vigilant In Avoiding Unfair and Deceptive Marketing Practices	News Release 2002-30	WORD  ASCII
	Speech	WORD  ASCII