Citizens Bank halting most foreclosures
2:18 PM Wed, Feb 18, 2009 | Permalink
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Citizens Bank is temporarily halting most foreclosures, the Providence-based company said in a statement today. "Citizens Financial Group has placed a temporary moratorium on Citizens-owned mortgages on owner-occupied residences of the customer and on mortgage loans serviced by CFG for which understandings with investors have been reached," bank spokeswoman Amie A. Picard said in an e-mail message to The Providence Journal. "The moratorium will be in effect until March 12, 2009." Citizens, one of the state's ten-largest employers, is the second-largest bank in New England. In 1988, it was acquired by the Royal Bank of Scotland, which has been battered by the global financial crisis and is now partially owned by the British government. For more about Citizens Bank, read past Providence Journal coverage here: 
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