in

Citi To Pay $770 Million Over Illegal Credit Card Practices | Forbes

Photo Credit: bruceg101 https://www.flickr.com/photos/62697772@N02/8161979832

Citibank has agreed to pay a total of $770 million for deceptive marketing and billing practices regarding credit cards. Unlike the deal with JPMorganChase, where most of the money went to the government in fines, $700 million of the Citibank deal will go to consumers who were impacted, and $70 million will be paid in fines.

“Affected customers will automatically receive a statement credit or check and those no longer with Citi who are eligible will be mailed a check,” Citi said.

Click the link below for the full story.

Source: Citi To Pay $700 Million To Consumers Over Illegal Credit Card Practices – Forbes

What do you think?

0 points
Upvote Downvote

Written by Newsfeed

Valuable news and information from across the web is presented in Newsfeed. Wherever possible, BankScoop attributes linked materials to their sources. If you would like to contribute articles, graphics, tools, or comments, please contact us at admin@bankscoop.com.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…

0

Credit Card Fees Survey: Only 1 has NO fees

Wells Fargo Is the Earth’s Most Valuable Bank | Yahoo Finance