Law Firm Investigates Citigroup’s Failure to Lower Interest Rates

SEATTLE—-Attorney Advertising. On February 23, 2018, Citigroup Inc. announced that it failed to properly reduce interest charges for over 1.75 million credit card accounts. These higher interest rates were applied to existing balances, increasing those balances at a faster rate than normal. That means your credit score could have been negatively affected—30 percent of your credit score is based on your credit card balances.

Keller Rohrback L.L.P. wants you to get fully compensated for any harm caused by Citigroup’s unlawful actions. Although Citigroup has said it will refund an average of $190 per account, this remedy falls short. A lower credit score may have resulted in you being denied a car loan, a cell phone contract or approval for an apartment, among other things. Consumer protection laws in many states insure that when consumers are harmed by the unlawful actions of financial institutes, they are permitted to recover thrice the amount of their harm.

“Citigroup’s promise of a refund is simply too little too late, and fails to consider a number of ways that their behavior has harmed consumers,” said Michael Meredith, an attorney at Keller Rohrback.

If you received an unlawful higher interest rate from Citigroup, and want to hear more about your rights as a cardholder, please contact attorneys Matthew Preusch or Michael Meredith at consumer@kellerrohrback.com or call 800-776-6044.

About Keller Rohrback L.L.P.

Keller Rohrback, with offices in Seattle, Phoenix, New York, Santa Barbara, Ronan, and Oakland, serves as lead and co-lead counsel in a variety of consumer protection lawsuits throughout the country and is proud to offer its expertise to clients nationwide. Our attorneys have obtained judgments and settlements on behalf of clients in excess of $23.25 billion.

Attorney Advertising. Prior results do not guarantee a similar outcome. Not licensed to practice law in all states. Please refer to www.krcomplexlit.com for details.