Tag Archives: CITI

Citibank Must Pay $700M Over Illegal Marketing, Collection Practices

by Ashlee Kieler, Consumerist

Citibank sign in window

In all, the [Consumer Financial Protection Bureau] estimates seven million consumer accounts were affected by Citibank’s deceptive marketing, billing, and administration of debt protection and credit monitoring add-on products. … In addition to consumer relief, Citibank must pay a $35 million penalty to the CFPB’s Civil Penalty Fund, as well as end its unfair billing practices and cease engaging in the deceptive marketing of add-on products. … The CFPB contends Citibank and its subsidiaries relied on illegal billing practices, ultimately affecting nearly 2.2 million customer accounts … Read More ›