Citizens Bank to pay $9M penalty for unlawful credit card servicing

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CITIZENS BANK will pay $9 million to settle a suit filed in 2020 by the CFPB. PHOTO COURTESY OF CITIZENS FINANCIAL GROUP
PROVIDENCE – Without admitting fault, Citizens Bank on Tuesday agreed to pay $9 million to settle allegations of failing to properly manage and respond to customers’ credit card disputes and fraud claims. The Consumer Financial Protection Bureau filed suit in January 2020 alleging Citizens violated the Truth in Lending Act and Regulation Z. The CFPB…

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