The bank will pay over $15 million in restitution and fines to settle claims that it neglected stop-payment requests and reopened deposit accounts without customers' consent.
Citi wants to attract credit card customers who use its card for staples such as groceries and gas — a pivot from its past of marketing to the social butterflies who would use its cards on dining and entertainment.
The agencies are weighing a plan to reduce the scope of residential real estate transactions requiring an appraisal, but appraisers have warned that the proposal could have consequences.
The Office of the Comptroller of the Currency advanced the ball last year by collecting public feedback on modernizing the law, but all three federal bank regulators will have to reach consensus on a formal proposal.
In her New Year’s message, CFPB Director Kathy Kraninger called on the agency to ensure that consumers are treated fairly and that “the marketplace is innovating.”
Bob Mahoney, CEO of Belmont Savings, called Jack Barnes after People's United agreed to buy a Connecticut bank. The banks announced their own merger agreement five months later.
