CFPB Orders VyStar Credit Union to Compensate Consumers After Online Banking Failure
The CFPB has taken action against VyStar Credit Union for consumer harm caused by a poorly executed rollout of a new online banking system in May 2022, which left members unable to access their accounts and incurred fees, resulting in a $1.5 million penalty and an order for VyStar to refund affected consumers and improve its banking system processes. [10/31/24]