Citizens Financial Group, Inc.
Approved Evidence
Citizens Bank paid $9 million penalty over unlawful credit-card dispute handling
CFPB sued Citizens Bank over failures to properly investigate and resolve billing-error and unauthorized-use claims, refund related fees and finance charges, provide required notices, and disclose credit-counseling information. A federal court entered a stipulated final judgment requiring a $9 million civil penalty and injunctive relief. Source: https://www.consumerfinance.gov/enforcement/actions/citizens-bank/
Citizens Bank paid $18.5 million for failing to credit customers' full deposit amounts
CFPB, FDIC and OCC took action against Citizens Bank after finding it failed to credit consumers the full amounts of deposits when deposit slips differed from the money actually transferred. The CFPB order required about $11 million in refunds and a $7.5 million penalty. Source: https://www.consumerfinance.gov/archive/newsroom/cfpb-orders-citizens-bank-to-pay-18-5-million-for-failing-to-credit-full-deposit-amounts/