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Agency Files Suit Against Citizens Bank Over Credit Card Disputes

The Consumer Financial Protection Bureau is suing Citizens Bank. They are charging the bank with violating the federal Truth in Lending Act and other consumer protection laws by failing to respond responsibly to consumer credit card disputes.

The suit claims the bank did not do its due diligence in terms of investigating and resolving consumers’ billing error notices and claims of unauthorized use in a reasonable manner. Instead, the suit claims that the bank automatically denied all claims of misappropriation.

The suit also claims that the bank also failed to fully refund finance charges and fees when consumers’ disputes or fraud claims were found to be valid. The bank is also accused of failing to send consumers required acknowledgement letters and denial notices in response to billing error notices.

Citizens is also being accused of not providing credit counseling referrals to consumers who called the bank’s toll-free number for that purpose.

The bank issued a statement in response to the suit stating their intent to fight the claims.

“Citizens will vigorously challenge the CFPB’s action, which is legally unwarranted and includes demands far out of line with actual customer impact.”

The complaint has been filed in U.S. District Court in Rhode Island. The federal agency is seeking an injunction and civil penalties.

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About the Author: Aisha K. Staggers is a writer, lecturer, political analyst and literary agent. She appears weekly for “Staggers’ State of Things” on the Dr. Vibe Show. Her work has been published by Paper Magazine, AfroPunk, The Spool, GREY Journal, MTV News, HuffPost, Blavity, Atlanta Blackstar, For Harriet, New York Review of Books and a host of other first-run publications and syndicated outlets. Find her on Twitter @AishaStaggers. For more of her work, check out her page here!

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