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Violation Tracker Individual Record

Company: Citibank, N.A.
Current Parent Company: Citigroup
Penalty: $335,000,000
Year: 2018
Date: June 29, 2018
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: credit card violation
Mega-Scandal: Credit Card Issuer Abuses
Violation Description: The Bureau concluded that Citibank violated the Truth in Lending Act by failing to reevaluate and reduce the annual percentage rates (APRs) for approximately 1.75 million consumer credit card accounts consistent with regulatory requirements, and by failing to have reasonable written policies and procedures to conduct the APR reevaluations consistent with regulation.
Level of Government: federal
Action Type: agency action
Agency: Consumer Financial Protection Bureau
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.