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Citigroup Settles FTC Charges Against the Associates Record-Setting $215 Million for Subprime Lending Victims

September 19, 2002 In the largest consumer protection settlement in FTC history, Citigroup Inc. will pay $215 million to resolve Federal Trade Commission charges that Associates First Capital Corporation and Associates Corporation of North America (The Associates) engaged in systematic and widespread deceptive and abusive lending practices. Citigroup acquired The Associates in November 2000, and …

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