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Citizens Bank, N.A.

On January 30, 2020, the Bureau filed a lawsuit against Citizens Bank, N.A. (Citizens), alleging violations of the Truth in Lending Act (TILA) and its implementing Regulation Z, including TILA provisions passed under the Fair Credit Billing Act (FCBA) and Credit Card Accountability Responsibility and Disclosure Act (CARD Act), as well as violations of the Consumer Financial Protection Act of 2010 (CFPA) due to its violations of TILA and Regulation Z. Specifically, the Bureau alleged that Citizens failed to: (1) reasonably investigate and appropriately resolve billing error notices and claims of unauthorized use by automatically denying such claims for failure to return a fraud affidavit; (2) credit consumers’ accounts for fees and finance charges when unauthorized use and billing errors occurred; (3) provide consumers with required acknowledgment and denial notices regarding billing error notices; and (4) disclose required credit counseling information to consumers when consumers called the toll-free number designated for such purpose. On May 23, 2023, the Bureau filed a proposed stipulated final judgment and order, which the court entered the same day. The order requires Citizens to pay a $9 million civil money penalty. It also imposes injunctive relief designed to prevent Citizens from violating the law in the future.

Related documents


Stipulated Final Judgment and Order

Press release

Consumer Financial Protection Bureau Announces Action Against Citizens Bank, N.A.

CFPB Action to Require Citizens Bank to Pay $9 Million Penalty for Unlawful Credit Card Servicing