Citigroup to return $4.5 million more in fee overcharges

Citigroup Global Markets Inc (CGMI), a unit of Citigroup Inc, has agreed with the New York attorney general to return $4.5 million in account management fees charged on some 15,000 frozen accounts.

As a result of the agreement, a total of more than $20 million will be refunded to Citi customers for overcharges in an investigation initiated by New York Attorney General Eric Schneiderman.

In October, CGMI agreed return some $16 million to more than 31,000 customers who paid higher advisory fees than they had negotiated.

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