RBS Profits From Customers' Math Errors, Suit Claims

Law360, New York (May 7, 2012, 1:24 PM EDT) -- RBS Citizens Financial Group Inc. took advantage of customers whose math blunders led them to deposit more money than they realized, pocketing the extra cash and failing to notify clients of their mistakes, according to a proposed class action filed Thursday in Illinois.

Brought by Illinois chiropractic center Todd L. Bowers Inc., the complaint targets business practices at nearly 1,500 bank branches operated across the Midwest and Northeast by RBS Citizens, a $130 billion subsidiary of Royal Bank of Scotland Group PLC.

The plaintiff claims it...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.