Consumer Alert: State AG sues Citibank
New York State Attorney General Letitia James is taking Citibank to court.
She says the bank did a lousy job of protecting your money and when thieves stole it, Citibank did nothing to help.
News10NBC’s Consumer Investigative Reporter Deanna Dewberry combed through the lawsuit, which includes some heartbreaking stories.
One victim, called “Consumer A”, was victimized when a cyber criminal stole more than $40,000 from her online savings account. According to the lawsuit, when she reported it, Citi customer service agents told her to go to a bank branch. When she did, the manager allegedly told her he couldn’t do anything to help her. And when she submitted a fraud claim, Citi denied it.
The attorney general says the victims are online and mobile banking customers.
The Electronic Funds Transfer Act is designed to protect consumers when fraud or mistakes occur electronically. But James says Citibank provided shoddy cybersecurity, then broke the federal law by systemically denying fraud claims, costing New Yorkers millions of dollars.
In a statement, a spokesperson for Citi says it works extremely hard to prevent threats and help customers who are victims of fraud.
Consumers were feeling more confident in January: in fact, more confident than they have since December of 2021.
The Conference Board, a business research group, released the numbers Tuesday showing confidence has risen for three consecutive months.
Not only are consumers feeling better about current conditions, but also future economic conditions as well.
iPhone users, have you turned on theft protection yet?
It’s a new feature that could protect more than your phone. It could protect your bank account.
When this new feature is activated, if a thief steals your phone, he’ll need more than your passcode to access your money.
He’ll need FaceID or touch ID as well.
You will first need to make sure you’ve downloaded Apple’s newest update, 17.3. Then, you’ll need to go to settings and turn on stolen device protection.