Citigroup Settles Predatory Lending Lawsuit

TheTip.org

Username:
Password:

Not a member?
Signup!

Polls

Impeach George Bush

Citigroup Settles Predatory Lending Lawsuit

Source: TheTip, 2002-09-25

Candidate: Big Business

Citigroup Settles Lending Lawsuit
Alleged Predatory Practices Could Lead to Refunds for Victims
Oakland Tribune
Sep. 20 , 2002
By Marc Albert
Victims of alleged predatory lending practices may receive partial refunds under a $240 million settlement announced Thursday. In what would be the largest consumer protection settlement ever, Citigroup Inc., parent company of CitiCorp Inc., Citibank and CitiFinancial Credit Co., agreed to pay $215 million to resolve a nine-count Federal Trade Commission complaint accusing Associates First Capital Corp., a firm Citigroup acquired in November 2000, of bilking consumers with unfair lending practices.

An additional $25 million was offered by Citigroup to settle a California class action suit accusing the financial serv-

ices behemoth of deception and fraud in mortgage refinances and "loan flipping."

The settlements must first be approved by federal courts in Georgia, where the FTC filed its case, and by federal courts in California where a separate private suit is pending.
Add a comment to this Message in our Forums.
While you're at it, check out our forums too!

User Originated Comments:

From: pkahler@ipa.net
2004-02-01 00:00:00
i had two loans with associates. and towards the
end of paying the last one off they sold my
account to another co. well, i had made 4 payments
(2 double) that did show in their records and not
the the records of the new owner of account. it
took 2 months for this new place to find my papers
that were in so called storage and another 7 or 8
months for me to get them to figure everything
out. and then 3 more months for them to send me
the "lean release" to my pickup. it was a total
head ache for me but i got it fixed! you might
think that a business of this kind would know
these kinds of things.
just go figure!!!

From: doubledowndarrin@yahoo.com
1999-11-30 00:00:00
in process of citi banks fore closure,need help
they have over charged and over charged me and
will not anser any of my questions! they owe me
money! and now they are going to take my house
along with my money .! need help yesturday!!!i
need a attorney fast who hates shiti bank oops i
mean ciyi bank..in sacramento ca
doubledowndarrin@yahoo.com

From: Quoted from recent posts:
1999-11-30 00:00:00
red's post - "i have a loan on my home with citi.
and it all began when they told me to refi. with
them i could get rates of 10 to 12 percent and
when the loan was finalized the rated was 15.9
this is unreal this compnay is getting rich by
stealing our homes and our
lives."

pamela's post - "i lost a house
because of citigroup and the -ssociates. i hope
they are put completely out of business. i also
had to file bankrupcy behind the whole event. i
was ripped off totally."

From: Diane Pgh, PA
1999-11-30 00:00:00

people are losing their homes across the
u.s...

hello, hello - people are losing
their homes across the country
u.s..

that doesn't even address what's
happening around the world due to the actions of a
usurped country, the once united, states of
america.

From:
1999-11-30 00:00:00

Send this article to:

Your Email:

Related News

12-22-2007	Biofuels Could Kill More People Than the Iraq War
9-24-2007	Is Health Care the same as Health Insurance?
11-23-2006	Outsourcing Phase II: Senior Management
6-30-2005	The New York Times
2-10-2005	Universal HealthCare
2-6-2005	Metaphors
1-26-2005	Last but not Least
10-26-2004	KERRY WINS!
10-3-2004	Drug ReImportation Laws Vetoed
8-30-2004	Why We Persevere
6-4-2004	The Employment Game
5-25-2004	Nepotism is Never a Good Idea
2-29-2004	Bush stands there like Alfred E. Neuman, saying, "What, me worry?"
2-29-2004	The MAD MBA
2-27-2004	Where have all the flowers gone? Gone to Iraq, everyone...
2-12-2004	Where Has All the $$$ Gone?
1-27-2004	CBS - SuperBowl Sunday no Freedom of Speech
1-23-2004	Men in Suits
1-22-2004	CBS Gags Your Freedom of Speech
1-21-2004	Privatizing Social Security
1-9-2004	Class Warfare
1-9-2004	Take Back America
12-15-2003	The Capitalist Threat
12-12-2003	Merry Christmas - Ralphs, Vons, Albertsons.
11-25-2003	Carlyle Group Expanding
11-13-2003	Cynics, it's a great time to be alive
11-6-2003	In Case You Missed It
11-3-2003	The Worlds Largest Skimming Operation
10-21-2003	Why Has Our Discourse Fallen Apart? For One Thing, Millionaires Run Your Press Corps
10-17-2003	The Next Banker's Scandal
9-1-2003	G8 Gives Go-Ahead for Iran/North Korea Threats
8-31-2003	Investigate? Why Bother
8-24-2003	What God Told Al Franken
8-1-2003	Iraqi Governing Council
7-24-2003	Operation Oily Immunity
6-19-2003	Bush's Clairvoyance on the Economy
6-9-2003	Don't say no one warned you.
6-6-2003	Don't Say No One Warned You
5-30-2003	Iran, the New Iraq - Propaganda a Prelude to War
5-22-2003	Touchdown, KBR/Cheney Gets the Oil
4-30-2003	FCC - Stop William Powell from letting Major Media Companies Own ALL of the Media
4-28-2003	FCC to Rule on Media Consolidation
4-28-2003	Bankers, Advisers and Traders caught in Biggest Investment Scam EVER
4-23-2003	Lying to the Public - Bush and Nike
4-23-2003	The Crook List
4-22-2003	Who's going to OPEC
4-16-2003	Selling Weapons
4-12-2003	Maxxam / Pacific Lumber Fraud
4-10-2003	America the Jobless and Penniless
4-9-2003	Fox to Acquire Hughes / DirectTV
4-4-2003	60% of 750 People think that Bush is Doing a Great Job
3-21-2003	What Liberal Media?
3-19-2003	Blaming Bush
3-13-2003	Boycott Exxon, Mobil, Shell
3-4-2003	One Hundred Thousand
1-30-2003	DOW DOWN
1-3-2003	Predatory Lending
12-30-2002	Greenspan - Economic Woes and Real Money
12-20-2002	1.4 Billion to Cover The Biggest Conflict of Interest EVER?
11-1-2002	Edison Threatens Legal Action Against Corona using California State Money

Donate some Clicks!

This RingSurf The Political Science and Politics Webring Net Ring
owned by TheTIP.

[ Skip Next | Next | Random Site | List Sites |Previous ]

This site is a member of WebRing. To browse visit here.

NEWS | ACTION | RESULTS | POLLS | MEMBERS | SEARCH

FAIR USE NOTICE This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Thetip.org assumes no responsibility for any errors or omissions in these materials. Thetip.org makes no commitment to update the information contained herein. Further, Thetip.org cannot edit, control, review for truth or accuracy, or screen for defamation or obscenity any content provided to the Website by a third party through postings, uploaded files, or any other form of communication, nor can Thetip.org ensure prompt removal of defamatory, obscene, inappropriate or unlawful content after transmission. Any such third party postings, files or other communications do not necessarily represent the opinions, beliefs, or positions of Thetip.org.

Thetip.org makes no, and expressly disclaims any, representations or warranties, express or implied, regarding the Website, including, without limitation, any implied warranties of merchantability or fitness for a particular purpose. Thetip.org makes no, and expressly disclaims any, warranties, express or implied, regarding the correctness, accuracy, completeness, timeliness, and reliability of the text, graphics, links to other sites and any other items accessed from or via this Website or the Internet, or that the services will be uninterrupted, error-free or free of viruses or other harmful components. Under no circumstances shall Thetip.org, its affiliates, or any of their respective partners, officers, directors, employees, agents or representatives be liable for any damages, whether direct, indirect, special or consequential damages for lost revenues, lost profits, or otherwise, arising from or in connection with this Website, the materials contained herein, or the Internet generally.