Citibank Refunds $700 Million Credit Card Holders

Citibank is set to pay almost $700 million in refunds to about 8.8 million of its credit card holders due to deceptive marketing, billing and a hosts of other illegal practices said federal regulators on Tuesday. The bank will also be fined $70 million by the Consumer Financial Protection Bureau and the Office of the Comptroller of Currency, whose duty is to regulate national banks. “We continue to uncover illegal credit card add-on practices that are costing unknowing customers...

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