See my research, posts, and articles on Citibank, including banking services, credit cards, and loan options. Click the link to explore key insights and updates!
Quick Answer: Midland Credit Management (MCM) is one of the largest debt buyers in the United States, headquartered in San Diego, CA, and owned by publicly traded Encore Capital Group. They purchase old credit card, auto, and consumer loan accounts from banks — often years after default — for pennies on the dollar, then attempt …
Since January 2025, the CFPB has terminated over 20 consent orders against banks and lenders—including a $60 million Toyota settlement and a Citibank discrimination case. With the agency potentially months from shutdown, here’s what consumers need to know.
Steve and Damon discuss what to do immediately after losing your job. They cover smart financial moves like stopping unsecured debt payments, using credit…
Steve Rhode and Damon Day challenge the guilt around debt, exploring whether it’s more moral to sacrifice your future to repay creditors or protect your family’s financial stability.
Quick Answer: This CFPB complaint against Citibank involved a consumer claiming a Best Buy credit card was fraudulently opened, resulting in frozen bank accounts due to garnishment. Citibank responded timely and closed the complaint with explanation, though the consumer’s dispute status remains unavailable.Date Received: 2019-01-30T00:00:00.000Product: Credit card debtIssue: Attempts to collect debt not owedConsumer Consent …
Quick Answer: Citibank can help through debt settlement programs but may hurt consumers when payment processing errors occur, as shown by one case where a settled $510 debt continued reporting as delinquent for three years. The consumer faced delays of 30-60 days for resolution during a time-sensitive home purchase process.Date Received: 2018-09-04T00:00:00Product: Credit card debtIssue: …
Quick Answer: This Citibank CFPB complaint demonstrates how card compromise incidents can lead to billing errors and collection harassment over small amounts. The consumer faced persistent calls over a $3 disputed balance after Citibank failed to properly close a compromised account, showing how technical errors can escalate into major customer service problems.Date Received: 2018-08-30T00:00:00Product: Credit …
Quick Answer: This Citibank complaint illustrates how debt collectors may unlawfully pursue discharged bankruptcy debts, as collectors cannot legally collect on $5,900 credit card debt eliminated in Chapter 7 bankruptcy. Consumers facing similar situations should demand debt validation and report violations to the CFPB when collectors threaten legal action on discharged debts.Date Received: 2018-08-15T00:00:00Product: Credit …
Quick Answer: Citibank CFPB complaints reveal typical banking issues rather than systemic problems, with this 2018 fraud case showing the bank provided a timely response that closed the complaint with explanation. Individual complaints don’t necessarily indicate widespread institutional failures, as even well-regarded companies receive consumer grievances.Date Received: 2018-08-17T00:00:00Product: Debt settlementIssue: Fraud or scamConsumer Consent Provided …
Quick Answer: A CFPB complaint shows Citibank’s collections department repeatedly called a senior citizen about debt not owed due to a charge mistakenly placed on the wrong Sears card. The case demonstrates how billing errors can escalate to harassment and credit bureau threats when companies fail to properly investigate recorded sales calls.Date Received: 2018-05-31T00:00:00Product: Credit …
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