CFPB fines CitiFinancial Servicing and CitiMortgage $29 million

The Consumer Financial Protection Bureau hit CitiFinancial Servicing andCitiMortgage with enforcement actions over how both companies handled borrower foreclosures.

CitiMortgage must pay an estimated $17 million to compensate wronged consumers, and pay a civil penalty of $3 million. CitiFinancial Services must pay approximately $4.4 million to consumers, and pay a civil penalty of $4.4 million. In total, both banks will pay $28.8 million.

Read on.

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