Firm that Makes Personal Loans to Pay $20 Million After Deceptive Claims [BNN Bloomberg (Canada)]
Citigroup, Inc. (C)
Last citigroup, inc. earnings: 4/15 08:00 am
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Source: BNN Bloomberg
deceived customers into taking on additional products and withheld interest from them. OneMain will pay $10 million to refund customers and $10 million to the Consumer Financial Protection Bureau's relief fund, according to a statement from the agency. “OneMain pressured its employees to load up its loans with extra charges through false promises of easy cancellation with full refunds,” CFPB Director Rohit Chopra said. “We are ordering OneMain to refund borrowers it cheated and to clean up its business practices.” Representatives for Evansville, Indiana-based OneMain said while it didn't agree with the CFPB's conclusions, it was pleased to resolve the matter relating to its refunding practices for some optional products. “Our policies strictly prohibit packing optional products into loans, and if we find out an employee has violated these policies we take disciplinary action, including termination,” a spokesman said in an emailed statement. OneMain has agreed to issue intere
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Earnings
- 4/12/24 - Beat
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Sec Filings
- 4/23/24 - Form 424B2
- 4/23/24 - Form 424B2
- 4/23/24 - Form FWP
- C's page on the SEC website