The Consumer Financial Protection Bureau has ordered Santander Bank, N.A. to pay a $10 million fine for allegedly using deceptive marketing practices for its overdraft services, in violation of the Dodd-Frank Act’s prohibition of unfair, deceptive or abusive acts or practices (UDAAP). The bureau also determined that Santander’s telemarketing vendor signed certain bank customers up for the overdraft service without their consent. Read on to learn more.
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