Violation Tracker Individual Record

Company: 
RBS Citizens, National Association
Current Parent Company: 
Citizens Financial Group
Penalty: 
$7,500,000
Year: 
2013
Date: 
April 29, 2013
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 Parent: 
USA
HQ State of Parent: 
Rhode Island
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking & securities
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.