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Violation Tracker Individual Record

Company: RBS Citizens, National Association
Current Parent Company: Citizens Financial Group
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
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Penalty: $7,500,000
Year: 2013
Date: April 29, 2013
Offense Group: financial offenses
Primary Offense: banking violation
Violation Description: The Office of the Comptroller of the Currency announced that it assessed a $5 million civil money penalty against RBS Citizens, N.A., for violations of section 5 of the Federal Trade Commission (FTC) Act, and ordered the bank to pay approximately $2.5 million in restitution to 265,000 affected customers.
Level of Government: federal
Action Type: agency action
Agency: Office of the Comptroller of the Currency
Civil or Criminal Case: civil
Facility State: Rhode Island
Facility City: Providence
HQ Country of Current Parent: USA
HQ State of Current Parent: Rhode Island
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.