(WmHerbert)

Citigroup Is Suddenly Without Its CEO And COO, After Both Abruptly Resign

With no specific reasons given, Citigroup CEO Vikram Pandit and Chief Operating Officer John Havens both resigned their positions this morning. [More]

(Someone named Meg)

Data Shows Bank Of America Is Also Bad At Dealing With Credit Card Complaints

Earlier this year, the Consumer Financial Protection Bureau launched a complaint portal for people with credit card-related issues. Banks and card companies are not obliged to provide a happy ending to the complainant, but they are obliged to reply in a timely manner. And even with the bar lowered that much, Bank of America still manages to disappoint. [More]

Study Says 800K Homeowners Should've Avoided Foreclosure But Big Banks Messed It All Up

Study Says 800K Homeowners Should've Avoided Foreclosure But Big Banks Messed It All Up

Getting a mortgage modification has been hard enough for homeowners, what with disorganized big banks not having enough well-trained people on staff to deal with the necessary ins and outs of the process. But a new study says that things should’ve been easier under the Home Affordable Modification Program and resulted in 800,000 fewer foreclosures than we ended up with. [More]

Which Credit Card Applications Are Trying To Hide The Least Info From You?

Which Credit Card Applications Are Trying To Hide The Least Info From You?

Between interest rates, rewards, balance transfers and fees, there are lots of places for banks to hide information that might drive a potential credit card customer away. But a new study looked at the country’s top 10 credit card issuers to determine which companies are hiding the least from consumers. And you might be surprised at who came out on top. [More]

Citi Has Some Very Strange Ideas On How I Plan To Spend My Extra Cash Points

Citi Has Some Very Strange Ideas On How I Plan To Spend My Extra Cash Points

Is there no limit to what banking rewards programs will cover these days? Flights, hotel rooms, rental cars, electronics, women. Wait — what? [More]

Woman Forcibly Removed From Home, In Spite Of Restraining Order Against Citibank

Woman Forcibly Removed From Home, In Spite Of Restraining Order Against Citibank

A woman in El Paso has been fighting foreclosure for several months, saying she was making payments and that Citibank was crediting them to an escrow account without telling her or explaining why. A federal court recently issued a temporary restraining order preventing the bank from foreclosing while the case is litigated, but that didn’t stop county constables from forcibly removing her from her home last week. [More]

Citi Decides Customers Want $5.95 Security Service, Check Off Box In Advance For Them

Citi Decides Customers Want $5.95 Security Service, Check Off Box In Advance For Them

If there is anything Americans love, it’s when big banks make decisions for them. For example, some Citi customers recently looked at their credit card bills and noticed that the bank had already checked off the opt-in box for some sort of security service called “Watch-Guard Preferred” at the low, low price of $5.95/month. [More]

Citi Shareholders Sue Bank's Directors For Paying Executives Too Much

Citi Shareholders Sue Bank's Directors For Paying Executives Too Much

Earlier this week, the shareholders of Citigroup said “hell no!” to the notion of paying company CEO Vikram Pandit $15 million. Today, they took their anger a step further and filed a lawsuit in federal court, saying Citi execs should not be rewarded for doing a so-so job. [More]

Worst Company In America Sweet 16: Bank Of America Vs. Citi

Worst Company In America Sweet 16: Bank Of America Vs. Citi

A perennial Golden Poo favorite slips into a red, white and blue unitard and struts into the WCIA Rollerball arena to the strains of Hulk Hogan’s “Real American,” thinking this is the year they win it all… Well, not if a scrappy underdog from New York City has anything to say about it. [More]

Which Worst Company Contenders Force Customers Into Mandatory Arbitration?

Which Worst Company Contenders Force Customers Into Mandatory Arbitration?

As we sifted through the mountain of nominations for this year’s Worst Company In America tournament, we noticed a trend of readers who cited companies’ mandatory binding arbitration clauses as a reason for nominating. And while it’s businesses like AT&T and Sony that have made all the headlines for effectively banning class action lawsuits, there are a lot of other WCIA contenders who are forcing customers into signing away their rights. [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]

$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]

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]