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.

Read on.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s