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Tag Archives: citigroup

Watch Out Mexico, Here It Comes

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Consumer debt is expected to robustly rise in Mexico through 2013, according to Citigroup’s Mexican Banamex. Banamex is Mexico’s second largest banking company and is expecting heavy growth in consumer demand for mortgages, credit cards, and payroll loans. Banamex, which supplies around 12% of Citigroup’s annual net profit and is Mexico’s second-biggest bank, grew its credit portfolio by 14% on ... Read More »

    To Catch A Financial Predator

    Yesterday it was announced in Illinois that Edward Lynn Moskop was sentenced to the maximum statutory penalties of 240 months in prison for mail fraud and 120 months for money laundering. This 360 month (30 year sentence) sentence is to be served concurrently followed by three years supervised release after. The sentence follows Moskop’s guilty plea to the two count ... Read More »

      FTC v. Citigroup

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      The links for the FTC case v. Citigroupcan be found here. Read More »

        Class Action Filed Against Citigroup for Selling Credit Protection and Payment Protection Products

        A class action lawsuit was recently filed against Citigroup for credit protection coverage sold along with their credit products. The service is also known as credit protect, credit protector, payment protector, PaymentAid, PaymentAidPlus, payment protection, and credit protection. The suit was filed by Golomb & Honik, P.C., 1515 Market Street, Suite 1100, Philadelphia, PA 19102, (215) 985-9177. The suit alleges ... Read More »

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

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          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 merged The Associates’ consumer finance ... Read More »

            Citigroup to Say Goodbye to 39,500 More Workers

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            Kerthunk! That’s the sound of the other shoe dropping on Citigroup. I thought I was ahead of the game when just last week I wrote Citibank to Fire 10,000 Workers And Raise Your Interest Rates. Well at least I got the raise your rates part right. Seems I was off by about 38,000 more Citigroup and Citibank employees that won’t ... Read More »

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