Tags: US | Citigroup | Settlement

Citigroup Settles Checking Account Fees Case in New York

Monday, 01 Feb 2010 03:10 PM

Citigroup has agreed to suspend plans to charge fees on certain kinds of checking accounts as part of a settlement reached with the New York Attorney General's office.

The fees would have affected more than 1 million customers.

Attorney General Andrew Cuomo says Citi failed to provide adequate disclosures and offer a free checking program long enough before implementing the fees.

The fees, which would've cost customers between $100 and $120 a year, were supposed to go into effect Monday. That's when Cuomo's office announced the settlement with Citi.

A Citigroup spokesman was not immediately available to comment.

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Economy
Citigroup has agreed to suspend plans to charge fees on certain kinds of checking accounts as part of a settlement reached with the New York Attorney General's office.The fees would have affected more than 1 million customers.Attorney General Andrew Cuomo says Citi failed...
US,Citigroup,Settlement
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2010-10-01
Monday, 01 Feb 2010 03:10 PM
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