Citi mortgage units fined $28.8 million

Senate grills Treasury pick on foreclosure record

Senate grills Treasury pick on foreclosure record

The Consumer Financial Protection Bureau ordered CitiFinancial Servicing and CitiMortgage to pay $ 28.8 million for giving “the runaround” to cash-strapped homeowners who were facing foreclosure.

“Consumers were kept in the dark about their options or burdened with excessive paperwork,” said CFPB Director Richard Cordray, in a release on Monday. “This action will put money back in consumers’ pockets and make sure borrowers can get help they need.”

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Personal finance news – CNNMoney.com

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