Rhinebeck Bancorp settles with NY DFS over dealer markup claims; no further earnings impact

Rhinebeck Bancorp, Inc.

Bank settled with NYS DFS over claims of statistical differences in dealer markup on indirect auto loans.
Bank denies allegations but agreed to settle to avoid costly litigation.
Settlement fully reserved; no further impact on earnings; average refund $133.
DFS did not find evidence of intentional discrimination; bank asserts dealers, not banks, set markup.

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