Citizens Financial Group (CFG) Comments on CFPB Settlement

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Go back to Citizens Financial Group (CFG) Comments on CFPB Settlement

Citizens Financial Group Comments on CFPB Settlement

May 23, 2023 9:54 AM EDT

PROVIDENCE, R.I.--(BUSINESS WIRE)-- Citizens Financial Group, Inc. [NYSE: CFG] today announced a settlement with the Consumer Financial Protection Bureau resolving a complaint related to certain billing errors and related issues that impacted a very small subset of Citizens credit card customers nearly eight years ago.

In 2015, Citizens self-identified operational errors that may have impacted approximately 2%, or about 25,000, of Citizens approximately 1.2 million credit card customers. Citizens contacted the CFPB to report the issues while voluntarily beginning remediation efforts. These efforts were all completed shortly after the issues were discovered and the remediation exceeded... More