
The Federal Deposit Insurance Corporation announced a settlement with Citizens Bank of Pennsylvania, Philadelphia, Pennsylvania, for unfair and deceptive practices in violation of Section 5 of the Federal Trade Commission Act. Under the settlement, CBPA agreed to an Order for Restitution and Order to Pay Civil Money Penalty. The Order required CBPA to pay a civil money penalty of $3 million and provide restitution of approximately $5.8 million to consumers and businesses who held more than 475,000 accounts affected by the violations. For more info visit https://www.fdic.gov/news/news/press/2015/pr15066.html