Please Join Us In Welcoming Your Worst Company In America 2012 Sweet 16!

Please Join Us In Welcoming Your Worst Company In America 2012 Sweet 16!

The floor of the Worst Company In America BattleDome is stained with the blood of the vanquished. But only one company can earn the privilege of placing the WCIA Golden Poo in its trophy case, so the violence must continue. [More]

Worst Company In America Round One: Wells Fargo Vs. Citi

Worst Company In America Round One: Wells Fargo Vs. Citi

Welcome to Day 2 of corporate carnage in the Worst Company In America Octagonal Steel Cage! Starting things off for today is another pair of bloodthirsty bankers out to prove they are just as astoundingly inept as any other business in the bracket. [More]

Here It Is, Your Lineup For Worst Company In America 2012!

Here It Is, Your Lineup For Worst Company In America 2012!

Welcome to Consumerist’s 7th Annual Worst Company In America tournament, where the businesses you nominated face off for a title that none of them will publicly admit to wanting — but which all of them try their hardest to earn. So it’s time to fill in the brackets and start another office pool. That is, unless you work at one of the 32 companies competing in the tournament. [More]

How Much Have The Big Banks Been Penalized Over Mortgage Mess And Where Is All That Cash Going?

How Much Have The Big Banks Been Penalized Over Mortgage Mess And Where Is All That Cash Going?

The last few years have seen numerous settlements between the nation’s biggest mortgage lenders and various federal and state authorities. And while we hear numbers like “a total of $25 billion,” exactly which banks are responsible for the biggest chunks of these settlements? [More]

CFPB Now Taking Complaints About Checking, Savings Accounts

CFPB Now Taking Complaints About Checking, Savings Accounts

Seven months after launching its credit card complaint portal, the Consumer Financial Protection Bureau has started taking complaints from checking and savings account customers — and actually expects banks to respond. [More]

How The Different Credit Card Issuers & Networks Handle Chargebacks

Whenever someone has a dispute with a merchant over a credit card charge, we always suggest they attempt to issue a chargeback through their credit provider. But not all card issuers and credit card networks handle chargebacks in the exact same way. [More]

Helpful Stranger Delivers Your Mail, Curses Out Your Bank

Helpful Stranger Delivers Your Mail, Curses Out Your Bank

It’s just plain heart-warming when a stranger does something nice for you. When Efrem’s box of new checks from Citibank went astray, the person who did receive them brought them by, with a helpful note about Efrem’s choice of financial institutions. “Citibank sucks,” the Good Samaritan wrote. “I would not trust [these] MFers with my money.” [More]

Citigroup Settles Mortgage Fraud Charges For $158 Million, Admits Fault

The U.S. Department of Justice nailed Citigroup on mortgage fraud charges, getting the bank to agree to pay out a $158 million settlement while admitting it tricked a federal insurance program into backing bad loans. When borrowers defaulted, taxpayers ended up footing the bill. [More]

Citibank Closes My Credit Card Due To Security Breach, Doesn't Tell Me Until I Sign In Online

It’s great that Citibank went ahead and closed Sylvia’s account after it was breached, thus saving her from thievery and other unpleasant security concerns. One thing that would’ve been even better, though, would be to let Sylvia know they’d gone ahead and done that. [More]

Citibank May Have Double-Charged Customers Using Its Bill-Pay App

Whoopsadaisy! Citigroup has accidentally been charging many customers more than what they owe for months, with some of them not even realizing it was going on until the bank sent out a notification. Cit’s bill-pay app for iPads was the culprit in many cases, charging customers twice what they owed for bills or mortgage payments. [More]

$25 Billion Mortgage Settlement Is Just The First Step Toward Cleaning Up Mortgage Mess

There are a lot of good things about today’s $25 billion settlement between the five largest mortgage servicers, the Dept. of Justice and the attorneys general of 49 states. But in spite of the huge price tag on the deal — which could grow even larger if other lenders sign on — it’s only the beginning of cleaning up the aftermath of housing market collapse. [More]

DOJ, 49 States Reach $25 Billion Settlement With Five Largest Lenders Over Robosigning

More than a year after several of the nation’s largest mortgage lenders temporarily suspended foreclosures after it was revealed that they had been using untrained, unqualified “robosigners” to process foreclosure documents, the U.S. Justice Dept. and the attorneys general of 49 states have announced a $25 billion settlement that will result in mortgage reductions to some homeowners. [More]

Almost All States Sign On To Massive Mortgage Settlement

Last night was the deadline for the attorneys general of each state to sign onto a massive settlement with the nation’s five largest mortgage lenders, and more than 40 of the states opted to join in the pot-sharing. [More]

Mainland China Will Finally Be Granted The Honor Of Citigroup's Credit Card Presence

Take that, other Western banks — Citigroup will be the first one to issue credit cards under its own brand in mainland China after the China Regulatory Commission granted their approval. It’s coup for Citi, and now they can brag about it to all their credit card company frenemies. [More]

Senator Asks Citi To Stop Reporting Frequent Flier Miles As Taxable Income

Senator Asks Citi To Stop Reporting Frequent Flier Miles As Taxable Income

As we mentioned last week, a number of Citi customers around the country have been scratching their heads wondering why they received 1099 tax forms from the bank over frequent flier miles, even though IRS policy explicitly states that the agency as no interest in going after freebie miles as taxable income. Now the chair of the Senate Banking Subcommittee on Financial Institutions and Consumer Protection has fired off a missive to Citi asking the CEO to not be such a pain in the rear-end to its customers. [More]

Citi Says Those Free Rewards Miles You Received Are Taxable

Citi Says Those Free Rewards Miles You Received Are Taxable

If you received a bunch of miles from Citi for signing up for one of the bank’s credit cards or rewards-earning accounts, be on the lookout for a 1099-Misc tax form coming in the mail, as Citi has decided that these miles have a taxable value. [More]

Big Banks Pinky-Swear To Overhaul Lending & Foreclosure Practices

Big Banks Pinky-Swear To Overhaul Lending & Foreclosure Practices

Nearly a half-decade after the U.S. housing market collapsed like something that collapses really badly, the country’s five biggest mortgage providers — Bank of America, Chase, Wells Fargo, Citi and Ally — are oh-so-close to reaching a settlement with the states that could include overhauls to how they operate when it comes to the whole lending/servicing/foreclosing process. [More]

SEC To Be Slightly Less Wimpy About Letting Violators Get Away Without Admitting Guilt

SEC To Be Slightly Less Wimpy About Letting Violators Get Away Without Admitting Guilt

The Securities and Exchange Commission has been taking a lot of heat recently after a federal judge refused to sign off on its $285 million settlement with Citigroup because, as is usual in these types of deals, the bank would neither admit its guilt nor profess innocence, and no evidence was ever entered into the record. But now the SEC says it won’t be letting rulebreakers get off so easily — well, at least not all the time. [More]