Citi ordered to pay $770 million over credit card practices
Source: Reuters
Citigroup Inc's consumer bank has been ordered to pay $700 million in relief to borrowers for illegal credit card practices, the U.S. Consumer Financial Protection Bureau said.
The CFPB, set up under the 2010 Dodd-Frank Act aimed at reforming Wall Street, has been cracking down in recent years on credit card companies offering payment protection, credit score tracking and other add-on products.
Citi will also pay civil penalties of $35 million each to the consumer finance watchdog and the Office of the Comptroller of the Currency.
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The CFPB said that about 7 million customer accounts were affected by Citibank's "deceptive marketing" practices, which included misrepresenting costs and fees and charging customers for services they did not receive.
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Read more: http://www.reuters.com/article/2015/07/21/us-usa-banks-creditcard-idUSKCN0PV1PJ20150721
Personal Finance | Tue Jul 21, 2015 3:38pm EDT
BY RICHA NAIDU
= new reply since forum marked as read
They'll be handling Costco's accounts too and everyone will need a Citibank VISA card if they don't have the $$$ on hand to pay cash at the hundred dollar store!
Fuck you Citibank. Never liked you and now you've moved into the ranks of yet another crooked company that more and more people will want absolutely nothing to do with if they have a brain in their skull! 
on you Citibank!
