Consumer Law

Citigroup Says Bah Humbug

By Randall Ryder

Despite accepting taxpayer’s bailout money, Citigroup refuses to show sympathy to consumers.

A local parking attendant bought a television on credit with Citigroup back in 2007. At the time of purchase, the receipt mentioned a deferred interest promotional offer, with no further explanation on the receipt or from the salesperson.

The consumer made monthly payments well in excess of the minimum payment, in order to pay off the loan in full before the 18-month interest free period ended. The consumer’s last payment was $11 short of paying off the entire loan.

Because the consumer did not pay off the loan, he was subject “Penalty Pricing,” interest dating back to date he purchased the TV in the amount of $887. Citigroup is also charging him 30% interest on that debt.

The Minnesota Attorney General’s office contacted Citigroup and got nowhere, receiving a letter from Citigroup that said “we expect the same from all our clients no matter where they come from . . . .”

Heartless behavior from a company that should be thanking taxpayers, not screwing them.

$11 mistake earns 0.0% sympathy from Citigroup | StarTribune

(photo: PrincessFrogLips)

Full post as published by Caveat Emptor on December 17, 2009 (boomark / email).