Last October, Citigroup agreed to return a total of $16 million to nearly 30,000 customers after an investigation by the state of New York found the company overcharged some customers advisory fees on their investment accounts. While that redress seems pretty hefty, it wasn’t enough, with the financial institution now agreeing to pay an additional $4.5 million to another 15,000 account holders. [More]
Experian, Equifax and TransUnion – the three largest companies to collect and disseminate credit information for millions of Americans – must undergo an overhaul of credit reporting practices as part of an agreement with the New York Attorney General’s Office. [More]
Overcharging customers $0.50 might not seem like a huge deal, but when the lower price was circulated in an advertisement, well, that constitutes false advertising. Such was the case for Walmart stores in New York recently. [More]
Even under the best of circumstances, choosing to take out a reverse mortgage is a difficult and often costly decision for many senior citizens and their families. But when you throw in a number of half-truths and marketing materials designed to mislead consumers into thinking they are taking part in a government-run program, well, that’s just wrong. And the state of New York won’t stand for it as one company recent found out. [More]
Airbnb won one round in a battle against New York State Attorney General Eric Schneiderman yesterday, when a judge ruled that the company doesn’t have to hand over thousands of customer records. But the AG’s office says it’s already planning a new subpoena.
In a battle that has been going on since last October, when New York State Attorney General Eric Schneiderman issued a subpoena seeking data about thousands of renters, Airbnb has pulled thousands of NYC listings. This, after Schneiderman filed an affidavit yesterday in support of his subpoena. [More]