Citibank, N.A., Department Stores National Bank, and CitiFinancial Servicing, LLC
Enforcement, Debt Collection
The CFPB “ordered Citibank to pay $5 million back to customers and $3 million in penalties over its debt sales and collection practices.” The complaint alleged that Citibank sold “credit-card debt with inflated interest rates” and that they failed to “[forward] consumer payments promptly to debt buyers.” Citibank and two law firms it used for compliance were ordered to “refund $11 million to consumers and forgo collecting about $34 million from about 7,000 consumers.”
Inactive or Resolved
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