March 9, 2020 / 9:05 PM / 19 days ago

BRIEF-Fifth Third Bancorp Rejects Charges In Consumer Financial Protection Bureau's Civil Lawsuit

March 9 (Reuters) - Fifth Third Bancorp:

* FIFTH THIRD BANCORP REJECTS CHARGES IN CONSUMER FINANCIAL PROTECTION BUREAU’S CIVIL LAWSUIT

* FIFTH THIRD BANCORP SAYS CO’S COMPENSATION AND EMPLOYEE INCENTIVE STRUCTURE DOES NOT REWARD RETAIL EMPLOYEES FOR OPENING UNAUTHORIZED ACCOUNTS

* FIFTH THIRD BANCORP SAYS CO’S CONTROLS ARE DESIGNED TO PREVENT AND DETECT UNAUTHORIZED ACCOUNT OPENINGS

* FIFTH THIRD BANCORP SAYS CFPB HAS NOT INFORMED US OF ANY UNAUTHORIZED ACCOUNTS BEYOND FEWER THAN 1,100 ACCOUNTS THAT BANK ITSELF IDENTIFIED

* FIFTH THIRD BANCORP SAYS ACCOUNTS INVOLVED LESS THAN $30,000 IN IMPROPER CUSTOMER CHARGES THAT ULTIMATELY WAIVED OR REIMBURSED TO CUSTOMERS YEARS AGO

* FIFTH THIRD BANCORP SAYS BANK IS CONFIDENT THAT IT HAS TREATED ITS CUSTOMERS FAIRLY AND WILL PRESS FOR AN EARLY TRIAL Source: (bit.ly/38GlIQN) Further company coverage:

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