CFPB Enters into Consent Orders with Citibank Subsidiaries Over Mortgage Servicing Practices
Consumer Financial Services Law
FEBRUARY 7, 2017
The CFPB recently entered into consent orders with several Citibank subsidiaries attacking their mortgage servicing practices during the early days of the Mortgage Servicing Rules despite the CFPB’s assurances that early examinations would focus on efforts to comply rather than the technical aspects of compliance. The consent orders require CitiMortgage to pay $17 million to affected consumers and a $3 million civil penalty and require CitiFinancial Services to pay $4.4 million to affected consu
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