Lest you trust them too much

Republicans (and some Libertarians) in my experience are frequently too trusting of corporations. While I agree that a large majority of them are trying to make an honest buck, there are always exceptions. California Dept. of Justice - Office of the Attorney General found that Citibank was knowingly stealing money from its customers. That is, if you had a balance of $200 and accidentally overpaid so that your balance was $-200 (assume you paid it twice). Citibank thought a good way to handle this would be to wipe out your account so it's back to zero. Depriving you of a $200 credit. Worse yet, an employee noted the problem and they simply buried the problem.

They've agree to pay $14MM to the aggrieved parties. Personally I think they should be fined ten times that amount for such disgusting behavior. Who knows what hardship these thefts caused? How many people were living hand to mouth and lost out on money they couldn't afford to lose?

Screw you Citibank.

Comments

Jeff the Baptist said…
What really bugs me is that credit card companies often sit on credits or carry them over to the next month's balance. Which is stealing the interest on that money. Not acceptable.

It isn't that I like corporations, it is that I find the alternative of government expansion to be far more distasteful. Corporations that try to do the impossible go bankrupt, governments just increase taxes and throw more money at the problem.
3:35 PM
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