Streams

Citibank Agrees to Delay Charging Checking Fees

Monday, February 01, 2010

Citigroup Inc. has agreed to allow "free checking" at Citibank to remain free, at least for another year. This comes after a settlement reached with New York Attorney General Andrew Cuomo.

Citibank had planned to start charging monthly fees unless customers maintained a minimum balance. The fees would have affected more than one million customers, but Cuomo says the bank didn't give them enough notice.

"They can change the terms of the deal, but it has to be after people have a reasonable notice that you're changing the terms, especially when they're fundamental terms," Cuomo says.

In a statement, Citibank says it's pleased to have resolved Cuomo's concerns. A spokesman declined to disclose the financial effect of the settlement.

Tags:

More in:

News, weather, Radiolab, Brian Lehrer and more.
Get the best of WNYC in your inbox, every morning.

Leave a Comment

Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.

Sponsored

Latest Newscast

 

 

Support

WNYC is supported by the Charles H. Revson Foundation: Because a great city needs an informed and engaged public

Feeds

Supported by