CFPB warns Huntington and OSU on relationship
The consumer watchdogs have waved their finger at the Huntington-OSU relationship currently in place. The pricy relationship is about $125 million, where Huntington ATMs were placed on campus and Huntington would get access to a database of people connected to the university. The Consumer Financial Protection Bureau had an issue with the lack of transparency in the deal that was made in 2012. The bureau sent a letter to the school as well as Huntington questioning why the contracts were not available online. “We wanted to alert you that this failure to be transparent may pose potential consumer protection risks,” the letter read, according to Columbus Business First. The CFPB also warned other schools who have financial partners and had not disclosed their contracts online.
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