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Citi refunding $50m b/c of debt collection

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printosaur
New Contributor

Citi refunding $50m b/c of debt collection

Citi and 2 law firms providing $50 million total in refunds and foregone debt for cardholders because of illegal debt sales and debt collection practices:

http://goo.gl/CBFlI1

But most of compensation already done under NJ state court order

 

 

Message 1 of 4
3 REPLIES 3
Anonymous
Not applicable

CFPB to Citi - Forgive $34 Million in Debt

Message 2 of 4
Anonymous
Not applicable

Re: CFPB to Citi - Forgive $34 Million in Debt

How so? It sounds like they were acting irresponsibly and got busted for it.

Message 3 of 4
lindsaydruart
Established Contributor

Re: CFPB to Citi - Forgive $34 Million in Debt

Mixed feelings also because, they have the right to collect what is owed within the law, however, the customers do actually owe so.....it's one of those two wrongs don't make it right but because of that, previous customers get off scot free I guess.

Gardening since 12/15/2019. Goal 12/15/2021
FICO 8 as of 12/16/2019 - EQ 602 EX 656 TU 628
Message 4 of 4
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