U.S. regulator fines U.S. Bancorp $37.5 million for opening sham accounts

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(Reuters) – U.S. Bancorp was fined $37.5 million on Thursday by a U.S. regulator for illegally accessing customers’ credit reports and opening checking accounts, savings accounts, credit cards and credit lines without customers’ permission.

The U.S. Consumer Financial Protection Bureau also said the Minneapolis-based bank pressured and incentivized employees to sell multiple products and services to customers, in part by imposing sales goals.