Citigroup Inc., one of the world’s largest credit-card issuers, said it will refund $335 million to U.S. customers whose annual percentage rate should have been lower. The lender determined that a method it was using to calculate APRs didn’t properly reflect the full benefit customers should have received for good behavior, such as paying on time, the New York-based bank said Friday in a securities filing that disclosed the issue and the total cost.
Citi To Refund $335 Million After Finding Credit Card Rates Too High
Contributed, Bangor Daily News
Fri, 02/23/2018 - 3:25pm
Sections: u.s.
Topics: Maine Penobscot County Bangor
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