Citizens Financial defending a depositor’s lawsuit

In February of 2007, an intruder somehow got the login credentials of a Citizens Financial online bank customer and managed to transfer $26,500 from a line of credit to a bank in Austria. When the account holder discovered the breach, they contacted Citizens Financial for return of the money. Citizens Financial could have recovered the funds much easier than the account holder but refused and told the account holder to recover from the Austrian bank. Of course that was a stone wall.

Then, as if nothing had happened, the account holder started getting billed for payment on the line of credit. When they didn’t pay, they were reported as delinquent payers and were threatened with foreclosure.

Now the account holder is suing the bank. Good for them.

The source is here and background information is here