Citi Sued Over 'Misleading' Credit Protection Plan

Law360, New York (October 5, 2010, 2:42 PM EDT) -- Holders of Citigroup Inc. credit cards have filed a putative class action alleging that the banking giant reaps millions in profits from its payment protection plans by misleading customers about the terms of the contract.

In a putative class action filed Monday in the U.S. District Court for the Eastern District of Wisconsin, the plaintiffs allege that Citi's payment protection plan is a “maze of limitations, exclusions and restrictions” that customers are often charged for without their knowledge, until the charges show up on their credit...
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