9 years ago
Citi to Refund $700 Million for Deceptive Card Practices
Nine million credit card customers will receive refund checks from Citigroup after U.S. regulators forced the bank to repay $700 million and fined it $70 million for illegal and deceptive practices. The order, coming from the Consumer Financial Protection Bureau, is the latest multimillion dollar settlement against the largest credit card issuers for their role in selling "add-on" products to customers, such as credit score monitoring or "rush" processing of payments.
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