U.S. consumer agency hits Citi with $6.5 million in fines over education lending

Reuters News
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Posted: Nov 21, 2017 3:37 PM

WASHINGTON (Reuters) - The U.S. Consumer Financial Protection Bureau said on Friday it had ordered Citibank to pay $6.5 million for alleged student loan servicing failures it said had harmed borrowers.

The agency said it ordered Citibank to end the illegal loan practices and pay $3.75 million in redress to consumers and a $2.75 million civil penalty.

(Reporting by Tim AhmannEditing by Sandra Maler)