Citibank

Citibank (South Dakota), N.A. fails to properly disclose on its credit card billing statements that the periodic rate used to compute finance charges is a variable, not fixed, rate in violation of the Truth In Lending Act ("TILA").  By failing to comply with the disclosure requirements of TILA, Citibank also breaches its cardholder agreements which incorporate the provisions of TILA.  In a case pending in New York, the Court stated that Citibank's "disclosure was not sufficient."  TILA requires that monthly statements for credit cards with variable rates disclose on the face of each monthly statement "the fact that the periodic rate may vary."  A prominent national non-profit consumer organization has indicated it will server as one of our representative plaintiffs.

If you are a California Citibank credit cardholder who has a variable rate, please contact us.