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An alarming number of people are complaining about their Citi credit card accounts [View all]
CNN Business
By Matt Egan, CNN Business
Updated 4:11 PM EDT, Wed June 24, 2020
An alarming number of credit card borrowers hurt by the coronavirus recession are complaining that Citibank is treating them unfairly.
Citi (C) accounted for nearly 37% of pandemic-related complaints to regulators about credit cards between March 16 and May 20, according to an analysis by Consumer Reports.
That was four times as much as the next-closest bank, the analysis of Consumer Financial Protection Bureau complaints database found.
Borrowers complained about several aspects -- from inflexible late fees and interest charges, to refusals to provide assistance for those with financial hardships.
"Citibank's practices are particularly egregious during a time of severe hardship when so many families have been pushed beyond the brink financially," Syed Ejaz, policy analyst at Consumer Reports, said in a statement.
Citi (C) accounted for nearly 37% of pandemic-related complaints to regulators about credit cards between March 16 and May 20, according to an analysis by Consumer Reports.
That was four times as much as the next-closest bank, the analysis of Consumer Financial Protection Bureau complaints database found.
Borrowers complained about several aspects -- from inflexible late fees and interest charges, to refusals to provide assistance for those with financial hardships.
"Citibank's practices are particularly egregious during a time of severe hardship when so many families have been pushed beyond the brink financially," Syed Ejaz, policy analyst at Consumer Reports, said in a statement.
Read more: https://amp.cnn.com/cnn/2020/06/24/business/citi-credit-card-complaints-cfpb/index.html
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