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A custodial bank settled CFPB charges for (i) applying for lines of credit and opening deposit accounts on behalf of customers without their consent, (ii) obtaining consumer reports with personal information without justification, and (iii) pressuring employees into selling products to customers to meet predetermined sales goals.

The Federal Reserve Board amended regulations to “lower reserve requirement ratios on transaction accounts maintained at depository institutions to zero percent.” The FRB also proposed amendments to (i) create a new single "interest on reserve balances" rate and (ii) simplify the formula for payment of interest on balances.