Citibank Pays Up To $10.7M In Home Equity Class Action Deal

Law360, San Francisco (March 15, 2013, 8:41 PM EDT) -- A California federal judge on Friday gave final approval to a settlement worth up to $10.7 million between Citibank and a class of 150,000 customers who accused the bank of wrongfully suspending or decreasing the value of their home equity lines of credit based on faulty valuations.

Under the deal, Citibank will restore between $317 million and $654 million in home equity lines of credit, worth a projected cash value of $3.17 million to $9.45 million. U.S. District Court Judge Maxine Chesney also approved $1.2 million...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

In re Citibank HELOC Reduction Litigation


Case Number

3:09-cv-00350

Court

California Northern

Nature of Suit

Real Property: Other

Judge

Maxine M. Chesney

Date Filed

January 25, 2009

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.