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The CFPB, FDIC and Office of the Comptroller of the Currency have ordered Citizens Bank, N.A., Citizens Financial Group, Inc. and Citizens Bank of Pennsylvania to pay tens of millions of dollars in restitution and penalties for pocketing money from customers whose deposit slip totals didn’t match the amounts deposited by the institution. The move marks the first action the CFPB has ever taken in regard to deposit processing practices.

Tina Orem

Credit Union Times

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