Overcast 41°
Tag:

Annual Percentage Rate

Business
Citigroup Will Refund 1.75 Million Credit-Card Customers $335M Citigroup Will Refund 1.75 Million Credit-Card Customers $335M
Citigroup Will Refund 1.75 Million Credit-Card Customers $335M One of the world's largest credit-card issuers said it will issue a whopping total of $335 million in refunds to U.S. customers whose annual percentage rate should have been lower. New York-based Citigroup said a method that it utilized to calculate annual percentage rates did not properly reflect the full benefit customers should have received for good behavior, including paying on time. Approximately 1.75 million credit card accounts were affected since 2011. Refunds will be about $190 per customer. Will you be getting cash back? You'll have to wait to find out. Citigroup said it's now …

SHARE

by Joe Lombardi