×
-0.000719518576661337 -0.000523286237571848 0.00026164311878611 0.000915750915751012 0.00026164311878611 -0.000130821559392869 -0.000654107796964903 -0.000654107796964903
Stockreport

Citigroup to refund $335 million of credit card interest charges [Reuters]

CITIGROUP (C)  More Company Research Source: Reuters
Last citigroup earnings: 7/13 07:59 am Check Earnings Report
US:NYSE Investor Relations: citigroup.com/citi/investor/pres.htm
PDF Citigroup to refund $335 million of credit card interest charges | Reuters Reuters Staff 2 Min Read NEW YORK (Reuters) - Citigroup Inc ( C.N ) said on Friday that it had failed to properly reduce interest charges on some 1.75 million credit card accounts since 2011, prompting a $335 million refund to customers later this year. The refund, which will average $190 per account, stems from the bank’s discovery that it had not used a proper method for reducing interest charges for cardholders who resumed timely payments after having had to pay penalty rates for lapses. The errors amounted to about 10 percent of the interest reductions cardholders were due, the bank said. It estimated that the other 90 percent of rate savings were properly credited to accounts. The cost of the reimbursements has already been factored in to Citigroup’s 2017 results. Under a federal law known as the CARD Act, banks have been required since 2011 to cut back on penalty interest rates after cardholders resume [Read more]

IMPACT SNAPSHOT EVENT TIME: C
Last Price
Price Change
Price Change %
Volume Shares
Max Up
Max Down
Volume Ratio
%
Performance comparison Updated
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST
PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST
PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
LAST PRICE
VWAP
High:
MAX UP
High:
Low:
MAX DOWN
Low:
%
POST NEWS RANGE
%
PRICE CHANGE

PRICE CHANGE PERCENTAGE


S&P 500 (SPX)

%

VOLUME RATIO
%

VOLUME (SHARES)
TICKS

AVG SHARES PER TRADE

Don't Miss Out On The Next BIG Stock Move
EVENT DAY
Event Day Chart will not be displayed beyond 90-day period of the event
PERFORMANCE SINCE EVENT
TIME AND VELOCITY ANALYSIS
Opt-in for
C alerts
from News Quantified
Opt-in for
C alerts

from News Quantified
Opt-in for
C alerts

from News Quantified