Citizens Bank paid $18.5 million for failing to credit customers' full deposit amounts
Company: Citizens Financial Group, Inc.
Summary
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/