The bank had numerous warnings that there could be severe regulatory consequences related to deceptively advertised add-on products. It is paying the price for failing to do more in response.
The Consumer Financial Protection Bureau said it did not issue an additional penalty because Citibank self-reported that it failed to reduce interest charges for 1.75 million credit card customers.
The Consumer Financial Protection Bureau's structure is an infringement on the authority of the executive branch, a New York federal judge said Thursday.
Marc Dann, a former Ohio attorney general, has a plan to publicly maintain the CFPB's consumer complaint database if acting Director Mick Mulvaney shuts it down.