Primerica ripoff Citigroup has been charged with predatory lending to the poor, not only by consumer advocates, but by the Federal Reserve Board, the Federal Trade Commission, and other governmental agencies. Duluth Georgia
The next time somebody brings up Citigroup in
connection with Primerica, check out this
website:
http://www.innercitypress.org/citi.html
Here's a very small sample from that website:
"There's a problem, however. Citigroup has been charged with predatory lending to the poor, not only by consumer advocates, but by the Federal Reserve Board, the Federal Trade Commission, and other governmental agencies. Citigroup's seeming capture of microcredit as-industry does not bode well."
Of course, you can also try entering in the
search term "Citigroup" on Ripoff Report for
more information.
Stuart
North Brunswick, New Jersey
U.S.A.
4 Updates & Rebuttals
Stuart
North Brunswick,New Jersey,
U.S.A.
Rebutting Thomas from Papillon ..Citigroup has tried desperately to deflect the legal and public relations problems by suggesting that all the really bad practices had been the work of Associates First Capital before it became a member of the Citi family.
#5UPDATE EX-employee responds
Mon, February 28, 2005
I would suggest to you, Thomas, that you get YOUR
facts straight.
Here are two links:
(1)http://www.disclosure-us.org/disc-april2001/sharks-ftc-calls-citigroup.htm
(2)http://multinationalmonitor.org/mm2002/02april/april02corp2.html
To save space on this posting, I'm excerpting part of the website from the second link:
"Citigroup has tried desperately to deflect the legal and public relations problems by suggesting that all the really bad practices had been the work of Associates First Capital before it became a member of the Citi family. The corporation feigned shock and dismay that such practices had been going on and urged the Federal District Court in Atlanta to dismiss Citigroup and its consumer finance unit, CitiFinance, from the FTC lawsuit.
Instead of extricating Citigroup and its affiliates from the lawsuit, the dismissal motion dug the hole deeper for the corporation. FTC produced affidavits from a former employee charging that the corporation's consumer lending affiliate CitiFinancial had engaged in unethical lending practices long before Associates First Capital had been acquired. The court refused to sever Citigroup and its consumer credit affiliate, CitiFinancial from the suit.
According to the FTC complaint, the Associates charged its customers prices that were substantially higher than those available to borrowers in the prime market. The FTC said Associates charged as many as eight points on mortgage loans each point equaling 1 percent the amount financed on top of inflated fees."
Before any Primericans falsely charge that I'm
misleading or quoting out of context, I invite
everyone to read up on the two links and more can
be found by doing a Google search on Citigroup
predatory lending (nice try Thomas).
Stuart
North Brunswick,New Jersey,
U.S.A.
Rebutting Thomas from Papillon ..Citigroup has tried desperately to deflect the legal and public relations problems by suggesting that all the really bad practices had been the work of Associates First Capital before it became a member of the Citi family.
#5UPDATE EX-employee responds
Mon, February 28, 2005
I would suggest to you, Thomas, that you get YOUR
facts straight.
Here are two links:
(1)http://www.disclosure-us.org/disc-april2001/sharks-ftc-calls-citigroup.htm
(2)http://multinationalmonitor.org/mm2002/02april/april02corp2.html
To save space on this posting, I'm excerpting part of the website from the second link:
"Citigroup has tried desperately to deflect the legal and public relations problems by suggesting that all the really bad practices had been the work of Associates First Capital before it became a member of the Citi family. The corporation feigned shock and dismay that such practices had been going on and urged the Federal District Court in Atlanta to dismiss Citigroup and its consumer finance unit, CitiFinance, from the FTC lawsuit.
Instead of extricating Citigroup and its affiliates from the lawsuit, the dismissal motion dug the hole deeper for the corporation. FTC produced affidavits from a former employee charging that the corporation's consumer lending affiliate CitiFinancial had engaged in unethical lending practices long before Associates First Capital had been acquired. The court refused to sever Citigroup and its consumer credit affiliate, CitiFinancial from the suit.
According to the FTC complaint, the Associates charged its customers prices that were substantially higher than those available to borrowers in the prime market. The FTC said Associates charged as many as eight points on mortgage loans each point equaling 1 percent the amount financed on top of inflated fees."
Before any Primericans falsely charge that I'm
misleading or quoting out of context, I invite
everyone to read up on the two links and more can
be found by doing a Google search on Citigroup
predatory lending (nice try Thomas).
Stuart
North Brunswick,New Jersey,
U.S.A.
Rebutting Thomas from Papillon ..Citigroup has tried desperately to deflect the legal and public relations problems by suggesting that all the really bad practices had been the work of Associates First Capital before it became a member of the Citi family.
#5UPDATE EX-employee responds
Mon, February 28, 2005
I would suggest to you, Thomas, that you get YOUR
facts straight.
Here are two links:
(1)http://www.disclosure-us.org/disc-april2001/sharks-ftc-calls-citigroup.htm
(2)http://multinationalmonitor.org/mm2002/02april/april02corp2.html
To save space on this posting, I'm excerpting part of the website from the second link:
"Citigroup has tried desperately to deflect the legal and public relations problems by suggesting that all the really bad practices had been the work of Associates First Capital before it became a member of the Citi family. The corporation feigned shock and dismay that such practices had been going on and urged the Federal District Court in Atlanta to dismiss Citigroup and its consumer finance unit, CitiFinance, from the FTC lawsuit.
Instead of extricating Citigroup and its affiliates from the lawsuit, the dismissal motion dug the hole deeper for the corporation. FTC produced affidavits from a former employee charging that the corporation's consumer lending affiliate CitiFinancial had engaged in unethical lending practices long before Associates First Capital had been acquired. The court refused to sever Citigroup and its consumer credit affiliate, CitiFinancial from the suit.
According to the FTC complaint, the Associates charged its customers prices that were substantially higher than those available to borrowers in the prime market. The FTC said Associates charged as many as eight points on mortgage loans each point equaling 1 percent the amount financed on top of inflated fees."
Before any Primericans falsely charge that I'm
misleading or quoting out of context, I invite
everyone to read up on the two links and more can
be found by doing a Google search on Citigroup
predatory lending (nice try Thomas).
Thomas
Papillion,Nebraska,
U.S.A.
Preditory charges against Primerica, Citigroup
#5UPDATE EX-employee responds
Wed, February 23, 2005
I believe that the preditory company was Beneficial Finance which was acquired by Citigroup and no longer in business. After Citi bought them and cleaned house, the regulatory agencies followed up with action at the remaining company, Citigroup. Citi was NOT the preditry lender, but the buyer of the company that was the guilty party.
Please get facts straight, not just from web sites. Go to the Federal Reserve and find the history about the governmental agency actions, please.