CFPB Sues Citizens Bank Over Unresolved Credit Card Errors

  • Written by Sylvan Lane of The Hill

The Consumer Financial Protection Bureau (CFPB) on Thursday filed a lawsuit against Citizens Bank, alleging it routinely failed to investigate and resolve billing errors and unauthorized credit card charges reported by customers.

In a complaint filed in the U.S. District Court for Rhode Island, the CFPB accused Citizens Bank of violating a slew of federal consumer protection laws between 2010 and 2016.

The bureau claims Citizens Bank automatically rejected certain claims without due process, failed to compensate customers who were charged fees on erroneous or unauthorized transactions, and neglected to update some customers on the status of their complaints.

The CFPB also accused Citizens Bank of failing to offer credit counseling referrals to customers who called a designated phone line for that purpose.

Click here for rest of article...

To continue reading,
please provide your name and email.
We never spam your inbox