On February 5, 2015, the New York Department of Financial Services (“NYDFS”) announced a settlement with a national bank over allegations that the bank improperly secured its retail credit card with an interest in the borrower’s home, and that certain mortgage loan files contained falsified or altered income documents. Under the terms of the settlement, the bank will pay approximately $2 million in restitution to cardholders, issue a 2% reduction on borrowers’ interest rates, and release any security or liens associated with the card that the bank has on cardholders’ homes. The bank may also review borrowers whose income documents were allegedly altered or falsified for loan modifications.