Citizens Bank Sues SoFi Over 30 Mortgage Hires and Trade Secrets

SoFi Technologies faces a lawsuit from Citizens Bank over the alleged poaching of 30 mortgage staff and misuse of trade secrets. The complaint alleges racketeering, interference with employment contracts, and improper use of confidential customer and pricing information. If the court restricts SoFi's operations or imposes higher compliance costs, its mortgage unit could be impacted. The lawsuit doesn't change the company's narrative of disciplined risk management and expansion of fee-based businesses.