Citi To Pay $770M In Credit Card Settlement With Feds

Law360, New York (July 21, 2015, 11:58 AM EDT) -- Citigroup Inc. on Tuesday agreed to pay $770 million in consumer relief and civil penalties in settlements over deceptive credit card add-on products and problems with debt collection on its credit cards with the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency.

Citibank will pay $700 million in relief directly to affected consumers, as well as $70 million in civil penalties to the CFPB and the Office of the Comptroller of the Currency. (Credit: AP) The settlement will see Citibank N.A.,...
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