Citibank customers take note: Citibank To Pay $4.5M To Settle CFTC Deleted Files Claims

From Law360:

Law360 (September 28, 2020, 7:15 PM EDT) — Citibank agreed Monday to pay a $4.5 million penalty to settle claims from the U.S. Commodity Futures Trading Commission that the bank bungled maintenance of its audio preservation system, deleting files that were the subject of a December 2017 subpoena.The CFTC announced that Citibank NA, Citigroup Energy Inc. and Citigroup Global Markets Inc. agreed to the administrative proceeding settlement for allegedly violating a commission regulation that requires Citi to supervise its commodity interest accounts.A “design flaw” in Citi’s audio recording and preservation system — one that had been the subject of several memos warning senior management — deleted the…

Continue reading Citibank To Pay $4.5M To Settle CFTC Deleted Files Claims on Law360

Or take your claim to FairShake, the consumer advocacy service.


Read More:

FairShake is aggregating links to consumer news stories across the web. We claim no rights to the snippets featured.

Latest news

Take action against Airbnb: Airbnb is rolling out ‘new anti-party technology’ in North America

From The Verge: Airbnb is testing new “anti-party technology” in the US and Canada as it attempts to enforce a...

Take action against Airbnb: Airbnb Rolling Out New Screening Tools To Stop Parties

From News On 6: Airbnb says it will use new methods to spot and block people who try to use...

Top Sprint story from Bloomberg Law: T-Mobile’s Sprint Takeover Boosted Mobile Phone Bills, Suit Says

From Bloomberg Law: T-Mobile US Inc.’s 2020 acquisition of Sprint Corp.reduced competition and led to higher prices for all US...

FOX 10 News Phoenix on Airbnb: ‘Party Airbnb,’ Serenity Scottsdale, causing uproar in community

From FOX 10 News Phoenix: SCOTTSDALE, Ariz. - So-called "party Airbnbs" are popping up in more neighborhoods, including in Scottsdale,...

PayPal Gets Albright To Ax Management Tech Patent Row, says Law360

From Law360: By Jasmin Jackson (August 16, 2022, 8:29 PM EDT) -- U.S. District Judge Alan Albright has tossed a...

Latest Chase Bank customer news: Michael Mina scraps plans for massive food hall in S.F.

From San Francisco Chronicle: The Chase Center and Thrive City plaza have lost an anchor tenant: a food hall from...

You might also likeRELATED
Recommended to you