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Citibank to Refund $335 Million for Overcharged Interest Rates

The Bureau of Consumer Financial Protection has reached a settlement with Citibank for overcharging customers with high interest rates. The bank will refund $335 million to 1.75 million cardholders, an average refund of $191. The Bureau says Citibank failed to reevaluate these accounts to see if customers qualified for lower annual percentage rates. This caused

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