CFPB slaps JPMorgan Chase with $4.6M penalty over checking account problems

The Consumer Financial Protection Bureau hit JPMorgan Chase with a $4.6 million penalty for failures related to information it provides for checking account screening reports. CFPB Director Richard Cordray explained the bureau is imposing the penalty “because Chase did not have the required processes to report this information accurately, and kept consumers in the dark about reporting disputes and application denials.”