Violation Tracker Individual Record

Company: 
Citibank N.A.
Current Parent Company: 
Citigroup
Penalty: 
$733,800,000
Year: 
2015
Date: 
July 21, 2015
Primary Offense: 
consumer protection violation
Secondary Offense: 
credit card violation
Violation Description: 

The Consumer Financial Protection Bureau ordered Citibank, N.A. and its subsidiaries to provide an estimated $700 million in relief to eligible consumers harmed by allegedly illegal practices related to credit card add-on products and services. Roughly 7 million consumer accounts were said to be affected by Citibank's deceptive marketing, billing, and administration of debt protection and credit monitoring add-on products. The agency also said a Citibank subsidiary deceptively charged expedited payment fees to nearly 1.8 million consumer accounts during collection calls. Citibank and its subsidiaries will pay $35 million in civil money penalties to the CFPB.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Consumer Financial Protection Bureau
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
New York
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking & securities
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.