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Citizens Financial Group CEO says it won't be sold

6:14 PM Tue, Nov 03, 2009 |
News staff    Email

PROVIDENCE, R.I. (AP) - The head of Rhode Island-based Citizens Financial Group says it won't be sold by its parent company, the Royal Bank of Scotland, as a condition of the British government pouring billions of dollars into the firm.

Chief Executive Officer Ellen Alemany says RBS's announcement Tuesday that Citizens is not among the assets it will sell affirms that the banking firm in Providence is "a valued part of the RBS Group."

Citizens Financial operates nearly 1,500 branches, as Citizens Bank in the Northeast and as Charter One in the Midwest. It has about 23,000 employees.

RBS says it's selling other assets, including branch networks in Great Britain as part of a deal in which the British government gives it 25.5 billion pounds, about $41.8 billion, on top of an earlier bailout.

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Comments

appleman said:

Doesn't matter if you get sold or not. You're going to be paying millions and millions to the people you overcharged with you overdraft fees.



dman said:

appleman why should Citizens be responsible if you can't balance a checkbook!



aaron said:

Dman! You must work for unCitizens Bank!! I don't have and would never have Citizens as my Bank. They will pay for screwing their customers out of their hard earned money. Anyone with half a brain would realize it's just "legal"
stealing. But it's not ethical. No one would complain if it was done fairly and at a fair price for an overdraft;say$5.00 with a max number of overdrafts of 5 checks/debits. $39.00 is stealing from your customers. And by putting a larger check in front of smaller ones even though it might have comne in last; this bank is doing nothing but steal from its customers. the larger check causing the smaller ones to overdraw their account. If people bounce a check(and not because the bank put the larger check first on purpose to cause the overdrafts) then they should pay a fair overdraft fee not a loanshark fee!!!!



$Man$ said:

You won't bounce checks if you get overdraft protection. Been a Citizens customer for about 18 years & never had a problem.



tired of paying property taxes said:

bank of america charges $6.00 to cash one of their checks drawn on their bank if you don't have an account with them. i personally think that should be against the law, but they are pigs who the us bailed out. oh by the way, Citizens bank does not do that.




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