Citigroup to pay $28.8M for deceiving home borrowers
- 7 years ago
Citigroup is forced to pay up $28.8 million in fines for neglecting to inform home borrowers about options to avoid foreclosure and relief aid. CitiMortgage will pay approximately $17 million to compensate wronged customers, in addition to a civil penalty of $3 million. The CitiFinancial Services unit will also refund approximately $4.4 million to costumers, and pay a penalty of $4.4 million. The firm must now freeze all foreclosure-related activity related to the runaround.