Citi Credit Card Customers May Benefit from Class Action Lawsuit

If you had a credit card account with Citibank between May 5, 2002 and May 24, 2010, and your interest rate was increased as a result of a default or delinquency, you could get a payment from a class action settlement.

A proposed class action settlement has been reached in a lawsuit brought against Citibank involving increases to the interest rate on Citibank credit cards due to delinquency or default. (Note: the name of the case is Hoffman v. Citibank (South Dakota), N.A., Civil Action Case No. SACV 06-571 AJG [MLGx]).

Plaintiff Laura Hoffman filed a lawsuit in California against Citibank, alleging that it improperly raised interest rates due to delinquency or default without providing prior notice. Citibank said that cardholders were given notice in their credit card agreements and denied all allegations of wrongdoing and liability.

According to the notice from the Honorable Andrew J. Guilford, United States District Court Judge, the proposed settlement reportedly provides that Citibank will establish a settlement fund of $10 million. The court is scheduled to hold a class action settlement hearing on December 13 to decide whether the settlement should be approved.

Citibank settlement class members may receive a check for the lesser of $18 or an equal share of the settlement fund after payment of settlement costs.

These costs include attorneys’ fees and payment to the plaintiff. Any amounts left over will be paid to charity.

All Citibank credit card customers who had their interest rate increased as a result of a default or delinquency during this eight-year period may be eligible to take part in the settlement. To be entitled to a payment from the settlement fund, you must mail in a claim form by February 11, 2011.

Claim forms are available at http://www.casenosacv06571.com or by writing

to: Hoffman Claim Form Request, PO Box 44007, Jacksonville, FL 32231-4007.

You may download a copy of the Notice of Proposed Class Action Settlement and Hearing at:

http://www.casenosacv06571.com/docs/notice.pdf

Further details of the case can be found here:

http://www.judicialview.com/Court-Cases/ADR/Citibank-Credit-Card-Class-Action-Waiver-Conscionability-Considered/Opt-Out-Provision-May-Enable-Arbitration-Provisions/4/5135

LowCards.com ( http://www.lowcards.com ) simplifies the confusion of shopping for credit cards. It is a free, independent website that helps consumers easily compare credit cards in a variety of categories such as lowest rates, rewards, rebates, balance transfers and lowest introductory rates. It also gives an unbiased ranking and review for each card. The LowCards.com Complete Credit Card Index ( http://www.lowcards.com/CreditCardIndex.aspx ) is the most objective and comprehensive resource on the Internet which allows consumers to compare rates for over 1000 credit cards offered in this country.

Created by Hampton & Associates, the company has been analyzing the credit card industry and supplying objective websites on various consumer expenses for ten years.

Similar Posts:

Share

12 Comments on "Citi Credit Card Customers May Benefit from Class Action Lawsuit"

  1. Rhonda Cheney | January 26, 2012 at 12:55 pm |

    I received a check to cash on this issue. I am trying to verify which credit card that I had years ago this lawsuit covered. AND figure out if the check is valid and not a fruad. Any help?

  2. Linda Wagstff | July 15, 2014 at 9:51 am |

    I have had a Citi card for many years. How do I find out if I qualify for a refund through this legal action. Please address my Email. Thank you.

  3. I had a citibank credit card 2002, and my interest rate was raised to 24% due to delinquency. I am interested in receiving a copy of the Class Action Settlement Court Determination; as a judgment against me is coming up for the ten-year renewal. The assignee who bought the debt continues to charge me 24% interest.

  4. JUDITH A. MEISTER | March 1, 2017 at 5:41 pm |

    I WAS SENT A LETTER FROM CITI TELLING ME TO GO TO http://www.Citi.com/Refundinquiry AND SUBMIT
    A CLAIM. I WAS GIVEN A REFERENCE NUMBER. I HAVE LOOKED OVER THE ENTIRE PAGE AND AM UNABLE TO FIND A PLACE TO ENTER THE COMPLAINT. PLEASE HELP ME WITH THIS!

  5. I am having the same problem. Unable to find such website to submit my claim. Please Help.

  6. I am having the same problem. Unable to find where to enter the reference number

  7. I am also having the problem as well. What are we able to do about this?????

  8. I am having the same problem. no such web site.or place to to submit reference number I have never inrolled
    in Citi Identy Monitor.

Comments are closed.