FDIC fines bank $1.8 million for UDAP violations in collecting commercial debt
By EsqSocial Corporation 12/05/21
The FDIC’s settlement with Umpqua Bank announced yesterday is notable because the bank’s collection practices found to be unfair and deceptive involved commercial equipment financing offered by the bank’s wholly-owned subsidiary. The stipulated Order to Pay Civil Money Penalty requires the bank to pay a $1.8 million CMP....
By: Ballard Spahr LLP