General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsI was recently notified that I was part of a class action suit against Citi Bank
City held my mortgage, and at one point I had to purchase home owners insurance from them.
The suit says Citi was in collusion with the insurance companies and received huge kick backs as part of their "partnerships". They grossly overcharged us and Citi reaped the rewards.
The time period outlined in the paperwork is from 2007 - 2014.
I'm thinking this was just another way the Mortgage companies raped people prior to, during, and after the housing crash.
Citi sold my mortgage to another company in 2011. They made tons off me and countless others, and sold me to another company when they were done abusing me.
badtoworse
(5,957 posts)CatWoman
(79,283 posts)Citi and the insurance companies charged at least 200 percent over the market rate.
I wasn't aware of it then. I only became ware of this after obtaining insurance with USAA.
badtoworse
(5,957 posts)Good luck with the suit.
elleng
(130,126 posts)Hope you and other class members prevail!
CatWoman
(79,283 posts)they made nearly 1B, but the payout is only 13 percent of what they made.
http://www.reuters.com/article/2014/02/06/us-citi-insurance-settlement-idUSBREA1508Z20140206
2banon
(7,321 posts)criminal. fucking criminal. I commend you for maintaining a soft tone.. if it were me my rage would be out of control.
elleng
(130,126 posts)and you'll be getting something from them.
itsrobert
(14,157 posts)I told them that they can't change the terms of my mortgage and they said they can. I told them to show it to me in writing. They said that producing the documents would cost me money. I said, you want me to get more insurance, than you need to provide the papers to me.
Stay tough. Many don't.
CatWoman
(79,283 posts)the hard way, but i'm learning
elleng
(130,126 posts)and important.
CatWoman
(79,283 posts)elleng
(130,126 posts)out of their control, and most don't stand up to it. Nothing stupid about it, its normal.