RBS Citizens Financial Group, Inc. ( N/K/A) Citizens Financial Group, Inc.), RBS Citizens, N.A. ( N/K/A Citizens Bank, N.A.), and Citizens Bank of Pennsylvania

2015 Community Banks / Credit Unions

CFPB Consumer Financial Violation

Penalty

$18.5 million

Outcome

RBS Citizens Financial Group, Inc. ( N/K/A) Citizens Financial Group, Inc.), RBS Citizens, N.A. ( N/K/A Citizens Bank, N.A.), and Citizens Bank of Pennsylvania was subject to a $18,500,000 enforcement action by the Consumer Financial Protection Bureau (CFPB).

Details

RBS Citizens Financial Group, Inc. ( N/K/A) Citizens Financial Group, Inc.), RBS Citizens, N.A. ( N/K/A Citizens Bank, N.A.), and Citizens Bank of Pennsylvania — $18,500,000 CFPB Enforcement

Outcome: RBS Citizens Financial Group, Inc. ( N/K/A) Citizens Financial Group, Inc.), RBS Citizens, N.A. ( N/K/A Citizens Bank, N.A.), and Citizens Bank of Pennsylvania was subject to a $18,500,000 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 — RBS Citizens Financial Group, Inc. ( N/K/A) Citizens Financial Group, Inc.), RBS Citizens, N.A. ( N/K/A Citizens Bank, N.A.), and Citizens Bank of Pennsylvania

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