Complaint Review: Primerica - Duluth Georgia

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).

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).

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).

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.