Des Moines, IA – A major credit card company has reached a settlement to resolve a claim it overcharged interest.
Iowa Attorney General Tom Miller announced Citibank will pay around 14-hundred Iowa customers refunds totaling 216-thousand dollars. Iowa and four other states alleged Citibank failed to properly reevaluate and reduce the annual percentage rate for certain consumer credit card accounts consistent with federal law from February 2011 to August 2017.
The attorney general will be distributing refunds and those eligible do not need to take any action to receive their refunds Those who have questions can call toll free: 855-914-4657. Four other states are also getting refunds with the total payout by Citibank of four-point-two million dollars.