On June 6, the CFPB filed suit against third-party payment processor and two of its executives for allegedly enabling unauthorized and other illegal withdrawals from consumer banking accounts by their clients. The CFPB alleges the processor turned a blind eye to warning signs of its clients' fraud, such as high rates of returned payments, insufficient funds, and invalid or closed accounts, and processed electronic funds transfers from consumer bank accounts on behalf of clients that were breaking the law.

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