Printer Friendly

CITIBANK CHARGED WITH COLLECTING LATE FEES ILLEGALLY FROM PENNSYLVANIA CREDIT CARDHOLDERS

 CITIBANK CHARGED WITH COLLECTING LATE FEES ILLEGALLY
 FROM PENNSYLVANIA CREDIT CARDHOLDERS
 PHILADELPHIA, Dec. 18 /PRNewswire/ -- A class action suit was filed


yesterday in the Philadelphia County Court of Common Pleas against Citibank (South Dakota), a banking subsidiary of Citicorp (NYSE: CCI), charging the bank with violations of Pennsylvania's consumer protection laws.
 The suit alleges that Citibank has repeatedly violated Pennsylvania law prohibiting credit card issuers from collecting late fees for past due or missed monthly payments. The plaintiff in the suit, Loretta Irwin, is a Pennsylvania resident who is represented by Greenfield & Chimicles, a Haverford, Pa., law firm. Irwin was allegedly charged $60 in late fees from August through November because she purportedly failed to pay her monthly Citibank Visa bill on time.
 According to the suit, Citibank (South Dakota) has issued tens of thousands of Visa and Mastercard credit cards to residents of Pennsylvania. Many of these cardholders have been charged monthly late fees ranging from $10 to $15 for monthly payments that were not received by Citibank within the time required. The suit notes that although federal law applies to the interest rates out-of-state banks may charge for credit cards, state law controls whether other fees may be collected by these banks in addition to the interest rates they charge. Pennsylvania law, according to the suit, prohibits late fee charges.
 The suit seeks a refund of all late fees Citibank has collected, treble damages for the company's violations of state law and an order directing Citibank to stop charging and collecting late fees on credit cards issued in the state.
 /delval/
 -0- 12/18/91
 /CONTACT: Nicholas E. Chimicles of Greenfield & Chimicles, 215-642-8500/
 (CCI) CO: Citibank; Citicorp ST: Pennsylvania; South Dakota IN: FIN SU:


CC-JS -- PH032 -- 3618 12/18/91 17:39 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 18, 1991
Words:295
Previous Article:THE TORONTO STOCK EXCHANGE MARKET CLOSING
Next Article:WANG ELECTS JOHN J. CULLINANE TO ITS BOARD OF DIRECTORS
Topics:


Related Articles
STANDARD CREDIT CARD MASTER TRUST 1991-5, 6 RATED
STATEMENT IN RESPONSE TO INQUIRIES RE: CREDIT FOR BRANIFF TICKETS
WESTERN UNION LAUNCHES SECURED MASTERCARD; NEW WESTERN UNION MASTERCARD WILL HELP MILLIONS OF CONSUMERS TO ESTABLISH CREDIT
MELLON BANK INTRODUCES 'INTEREST BACK' CREDIT CARD; FIRST-EVER CARD TO REFUND UP TO 100 PERCENT OF CUSTOMERS' INTEREST
J.D. POWER AND ASSOCIATES REPORTS AT&T UNIVERSAL CARD RANKS BEST IN SATISFACTION
J.D. POWER AND ASSOCIATES REPORTS: REWARDS CARDS TOP THE LIST AMONG CREDIT CARDHOLDERS
Citibank and Sony Team Up to Introduce Co-Branded Entertainment Credit Card.
GAMC issues Mortgage Equity Rewards credit card.
Cardholders say companies colluded to require arbitration.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters