Citibank Ordered to Pay $700 Million Over Credit Card Practices

Citigroup Inc's consumer bank has been ordered to pay $700 million in relief to borrowers for illegal credit card practices, the US Consumer Financial Protection Bureau said. The consumer finance watchdog said on Tuesday that about 7 million customer accounts were affected by Citibank's "deceptive marketing" practices, which included misrepresenting costs and fees and charging customers for services they did not receive. The CFPB, ...