Citizens Bank Agrees To Refund $1.4 Million To Customers
PITTSBURGH (KDKA) – Some 75,000 customers could be due about $1.4 million dollars due to a settlement by Citizens Bank of Pennsylvania.
The Federal Deposit Insurance Corp announced the agreement that says Citizens bank will also pay a $5 million civil penalty to settle allegations that it deceptively marketed its overdraft and checking rewards programs.
The settlement covers a four-year period from January 2008 to November 2011.
The FDIC says customers eligible for the refunds don’t have to take any action.
Citizens’ parent company, RBS Citizens based in Rhode Island, reached a similar settlement announced today with the Office of the Comptroller of the Currency covering 265,000 affected customers in other states.