Citibank, N.A.; Department Stores National Bank; and Citicorp Credit Services, Inc. (USA)

2015 Community Banks / Credit Unions

CFPB Consumer Financial Violation

Penalty

$700 million

Outcome

Citibank, N.A.; Department Stores National Bank; and Citicorp Credit Services, Inc. (USA) was subject to a $700,000,000 enforcement action by the Consumer Financial Protection Bureau (CFPB).

Details

Citibank, N.A.; Department Stores National Bank; and Citicorp Credit Services, Inc. (USA) — $700,000,000 CFPB Enforcement

Outcome: Citibank, N.A.; Department Stores National Bank; and Citicorp Credit Services, Inc. (USA) was subject to a $700,000,000 enforcement action by the Consumer Financial Protection Bureau (CFPB).

Action Type: enforcement-action

How Crucible Prevents This

Crucible's continuous compliance monitoring would have flagged the regulatory gaps that led to this CFPB enforcement action — through automated regulatory adherence checks, BSA/AML monitoring, consumer protection compliance tracking, and corrective action plan enforcement — preventing the violations before they triggered federal action.

Source: CFPB Enforcement Actions — Citibank, N.A.; Department Stores National Bank; and Citicorp Credit Services, Inc. (USA)

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