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California: Citibank Stole $14 Million from its Customers

http://www.consumeraffairs.com/news0..._citibank.html

Quote:

California Attorney General Edmund G. Brown Jr. today announced that he has reached a settlement with Citibank after a three-year investigation into the company?s use of an illegal ?account sweeping? program.

Nationally, the company took more than $14 million from its customers, including $1.6 million from California residents, through the use of a computer program that wrongfully swept positive account balances from credit-card customer accounts into Citibank?s general fund, Brown said.

?The company knowingly stole from its customers, mostly poor people and the recently deceased, when it designed and implemented the sweeps,? Brown said. ?When a whistleblower uncovered the scam and brought it to his superiors, they buried the information and continued the illegal practice.?

Between 1992 and 2003, Citibank employed a computerized ?credit sweep? process to automatically remove positive or credit balances from credit-card customer accounts.

:2 cents::2 cents::2 cents:

That's fucking SICK....

No big Fucking........surprise

Quote:

Originally Posted by BradM (Post 14674893)

That's fucking SICK....

:2 cents:

now why isnt anyone fucking arrested? some junkie steals a tv he gets 5 yrs.

14 million? that's it? what the fuck for? I wonder what the real amount and bg story is..

Those crooks need to serve serious time

Quote:

Originally Posted by fatfoo (Post 14675627)

http://www.acf-fr.org/i/08-01-17_money8.jpg

:1orglaugh:1orglaugh:1orglaugh:1orglaugh

Sound like the crew from office space

Credit Cards are shaving!

What's next? Are Google & Yahoo going to start blind linking and auto-installing?