Posts tagged as:

Citigroup

Citigroup Says Bah Humbug

December 17, 2009

Despite accepting taxpayer’s bailout money, Citigroup refuses to show sympathy to consumers.
A local parking attendant bought a television on credit with Citigroup back in 2007. At the time of purchase, the receipt mentioned a deferred interest promotional offer, with no further explanation on the receipt or from the salesperson.
The consumer made monthly payments well in [...]

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Credit Card Companies Make it Hurt Before New Laws

December 10, 2009

Despite the new credit card laws go into effect in February, credit card companies are putting the financial hurt on customers.
According to a report from Safe Credit Card Project:

99.7% of bank cards allowed card issuers to boost rates on outstanding balances.
90% of bank cards increased their penalty rates.
Interest rates jumped an average of 20% from [...]

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Citibank offers $5,000 loan to defendant in Citibank collection lawsuit

April 7, 2009

Allen Harkleroad is an angry debtor who blogs about his experience dealing with debt collectors. One of his creditors, Citibank, sued him on a defaulted credit card debt. After they started the lawsuit, though, Citibank offered to loan Allen another $5,000.
It is obvious why they need a bailout; the monkeys in charge of consumer lending [...]

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Wachovia goes under, bought up by Citigroup

September 29, 2008

In a deal brokered by the feds, Citigroup has agreed to acquire the majority of Wachovia, the latest bank to fail. From CNN:
Citigroup will acquire the banking operations of Wachovia for $2.2 billion in an all-stock deal, following much speculation over the weekend about the fate of the nation’s fourth-largest bank.
Citigroup buys Wachovia bank assets [...]

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More on the HELOC freeze from SmartMoney.com

April 24, 2008

More on the HELOC freeze from SmartMoney.com (with a shout out to yours truly).

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The repeal of the Glass-Steagall Act in 1999 by a Republican Congress was a gift to Wall Street

April 22, 2008

Last week, Ben Popken at Consumerist suggested that the repeal of the Glass-Steagall Act in 1999 by a Republican Congress was a gift to Wall Street that encouraged banks to issue the sketchy mortgages that, failing spectacularly across the country, have dragged the economy into the toilet.

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Citibank’s HELOC freeze is causing more than just a few bounced checks

April 8, 2008

From the comments, it looks like Citibank’s HELOC freeze is causing more than just a few bounced checks. Reader Barbara Clark says Citibank reported the loan as suspended on her credit report, turning it into a major negative account and trashing her credit.

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Citibank freezes home equity lines of credit nationwide

April 7, 2008

I just spoke with a homeowner who bounced a check to her tree service because Citibank suspended her home equity line of credit before notifying her. When she finally received a notice from Citibank in the mail, it suggests that (PDF link) Citibank is apparently suspending home equity lines of credit nationwide due to [...]

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